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Author: jasmada One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19257  
Subject: Re: Nursing Homes likelihood Date: 2/24/2000 12:51 AM
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Re: Non Revocable Living Trust

This is commonly referred to as an Irrevocable Living Trust.

I am not an attorney. I repeat I am not an attorney.

This means that you relinquish control of your "things" to a trustee. Do you understand "relinquish" ? Generally happens when someone wants to use welfare so they fake poverty by giving up their things in this form of a trust. I had advised a client who did this with his "trusted" son, problem, son was sued in a big time legal matter and his wife left him, the court saw that he had substantial assets....oooopppps That is my dads trust he says so he can get welfare when he needs long term care....court says thats fine but its in your name.....we'll take that to settle the suit and the wife ....thanks so much..have a nice day. No dad is really poor, really poor and now he can actually, legitimately go on medicaid because he is poor. And the worst part, his attorney got 1800 dollars to draft that crap. Get an irrevocable today and ten years from now when you need care and the law changes and your attorney is dead, in jail or in bermuda what are you going to do....sue him ? sue the state for ripping you off when you were trying to rip them off first...? Better think twice about this one. No on second thought you can have a policy that is so much less complicated. Oh and one more thing I forgot to mention look back period.....oooopppppsssss!
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