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Author: puffertail Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19257  
Subject: Gift Trust Date: 10/5/2001 9:38 PM
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Does anyone know if this is legitimate? If you turn your stock portfolio over to a gift trust. The portfolio generates income that you receive. You are the trustee but the income goes to someone else who then writes out a check to you for the income. Because the portfolio and income is not attached to you, you would qualify 100% for Medicaid long term care. The house would also be out of your name and in the name of your heirs.
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