QUESTION
What is at the going rate for legal costs to set up an irrevocable trust on a house and help in getting VA benefit towards assisted living?
Asked on Feb 28th, 2018 on Estate Planning - Utah
More details to this question:
My mother-in-law is going into assisted living. Her deceased husband was a veteran of WWII and we have been told she qualifies for a VA benefit towards her assisted living cost at a facility. We have been told, that since her daughter is on the warranty deed of her home that will be sold, it would save taxes if the house were first put into an irrevocable trust prior to selling. The attorney will do this as well as doing what is necessary to get the VA benefit and charges for all of these services $4500. Is this a reasonable price for all of these services? The company is Utah Senior Planning in conjunction with Sandberg law.
1 ANSWER
Family Law Attorney serving Salt Lake City, UT
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David R. Hartwig, Esq.
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I only have experience with the trust issues, not with the VA benefits.
My first question is why are you putting the house into a trust? In what way are you saving taxes on the sale when compared to the expense of setting up a trust? I just don't see creating a trust to simply sell the house. Is there something else going on?
You may want to review the entire project with another counsel.
Answered on Mar 01st, 2018 at 8:29 AM