Greetings, Puffertail, and welcome. You asked: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.To be effective, you must make an irrevocable gift of the assets to the trust, and you must have absolutely no control over those assets. That means you cannot be the trustee. Further, for you to qualify for Medicaid, any assets transferred to the trust must have been there for 60 months or more. Otherwise you or your family must pay the bill until the value of those assets has been used up.If you wish to go the trust route simply to qualify for Medicare (a very poor move for most IMHO), then see a lawyer skilled in elder care and trust issues.Regards..Pixy
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