Testamentary trusts are trusts created under a will. The Medicaid rules provide a special ‘safe harbor’ for testamentary trusts created by a deceased spouse for the benefit of a surviving spouse. Unlike a trust created during life for a spouse, the assets of these trusts are treated as available to the Medicaid applicant only to […]
Testamentary Trusts Read More »
Medicaid rules provide for three ‘safe harbor’ trusts that are notable exceptions to the general trust rules. 1 The first, referred to as a ‘(d)(4) (A)’ or ‘pay-back’ trust, must be created by a parent, grandparent, guardian or court for the benefit of a disabled individual under age 65. It may be funded with the disabled
Safe Harbor Trusts Read More »
As an elder law and disability law center, we serve the following localities: Albany County including Albany; Dutchess County including Fishkill, Poughkeepsie, and Rhinebeck; New York City including all boroughs of New York; Orange County including Goshen, Middletown, Warwick, Florida, and Tuxedo; Rockland County including Monsey, New City, and Nyack; Saratoga County including Ballston Spa, Clifton Park, and Saratoga Springs; and Westchester County including White Plains and Yonkers.
Copyright © 2022 – Ranni Law Firm
This web site is for general information use only and does not provide legal advice. As each legal situation is unique, legal advice can only be given based on the particulars of each case and the law as it might apply to them. Disability and Elder Law often involve complex issues and challenges that requires informed decision-making. Many times this is in collaboration with spouses, partners, children or other professionals. For this reason and others, this information is solely to provide broad guidance. Our team of attorneys, Medicaid experts and support staff are available to answer questions about your personal circumstances.
