QUESTION

should an ira be incorprated in a living trust

Asked on Feb 05th, 2013 on Elder Law - New Jersey
More details to this question:
N/A
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
That's very difficult to answer based ont he information you have provided.  If the living trust is revocable, the trust provides no asset protection for you from creditors or from estate taxes, if any.  It will require that the IRA be used before you would qualify for Medicaid so it does not provide any asset protection for Medicaid purposes.   
Answered on Feb 06th, 2013 at 4:02 PM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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