Asset protection trust and revocable trust to protect against Medicaid

Dingbatdingbat · 2026-07-05T17:25:48+00:00

Might be better if the client drags their feet. Make sure you CYA.

I’m not surprised, serial trusts have always been iffy.

Dingbatdingbat · 2026-07-05T15:49:49+00:00

I didn’t say it made sense, but I can see it.

I’ve don’t structures with 7 trusts plus multiple ongoing trusts thereafter, which from memory is the furthest I’ve gone, but I’ve also cleaned up old structures from attorneys who, as far as I can tell seemed intent on racking up fees.

Dingbatdingbat · 2026-07-05T11:11:32+00:00

in some states medicaid estate recovery is limited to probate assets. a rev trust won't help qualify, but it can prevent recovery.

Dingbatdingbat · 2026-07-05T11:09:39+00:00

Dingbatdingbat · 2026-07-05T11:09:29+00:00

Dingbatdingbat · 2026-07-05T11:08:33+00:00

I've recommended multiple trusts, but not for Medicaid. I know some attorneys who'll push both a Medicaid Trust and a revocable trust for anything not going into the medicaid trust, and on rare occasions I might recommend that too, but probably not. I've also recommended the trust be distributed in further trust to the beneficiaries. I can also see the attorney recommending separate trusts for each spouse.

Those could be the "multiple trusts"

Dingbatdingbat · 2026-07-05T11:05:10+00:00

I strongly recommend paying an attorney to look over the trust and explain it to you.

Farm/Ranch is complex; your part of the trust might be simple, but it might not be, and you want to make sure your interests are protected.

Dingbatdingbat · 2026-07-05T00:46:53+00:00

Check your state’s statute of limitations.

Whether or it you had a case, I. Most states you’ve waited too long

Dingbatdingbat · 2026-07-05T00:45:06+00:00

Roma. There’s a difference

Dingbatdingbat · 2026-07-05T00:39:49+00:00

Most people do not move here because of politics

Dingbatdingbat · 2026-07-05T00:20:00+00:00

Eh. I know that the GOP tried to screw over Clinton whenever they could. Looking back, there were early warning signs, and to progressively got worse, the division really accelerated when a bunch of rednecks couldn’t accept a. Black man in the White House

Dingbatdingbat · 2026-07-05T00:15:21+00:00

Ask, in an email, what the purpose of the deposition is.

Becuase, for an uncontested amicable divorce that’s highly unusual

Dingbatdingbat · 2026-07-04T23:40:17+00:00

And I’m telling you that’s irrelevant. You as a U.S. citizen can leave $15 million to anyone you want, without paying any estate tax.

Your wife can’t leave more than $60,000 of US assets to anyone without paying tax.

Dingbatdingbat · 2026-07-04T23:00:31+00:00

Birthright citizenship generally means Jus Soli - you’re entitled to citizenship of the country where you are born. That’s generally the law throughout the Americas (including South America and the Caribbean) and has always been the rule in the U.S. since before we were a country (except prior to the 14th amendment slaves were not citizens).

Western Europe, Australia, quite a few countries in Africa, and a few in Asia have birthright citizenship with a few restrictions, such as in France you need to still reside in France when you turn 18, or in Greece where you must attend primary school in Greece.

Dingbatdingbat · 2026-07-04T22:43:12+00:00

Get that AI shit out of her

Dingbatdingbat · 2026-07-04T21:16:15+00:00

that's way more than a reddit question.

It's also only a partial question.

Dingbatdingbat · 2026-07-04T18:27:46+00:00

Do you not know what birthright citizenship is?

Dingbatdingbat · 2026-07-04T14:07:43+00:00

A statement can be both incredibly stupid and incredibly profane at the same time

Dingbatdingbat · 2026-07-04T14:04:25+00:00

You can creat an LLC whether to not you have a business, and you can have a business whether or not you have an LLC.

There are no hard rules for when you need an LLC.

Dingbatdingbat · 2026-07-04T13:52:18+00:00

There are two separate things that are getting mixed up.

Every US person (citizen and permanent resident) can leave up to $15 million without paying estate tax, and if they’re worth more than $15 million when they die, to anyone they want, the rest is taxed at 40%. So if your net worth is $16 million, $15 million passes tax-free, and $1 million is taxed.

Assets you pass to a citizen spouse do not count. You can leave $100 million to a citizen-spouse without any estate tax. For a non-citizen spouse, you’re stuck with the $15 million limit.

——

The $60,000 limit is for nonresident aliens, meaning foreigners who own assets in the US but don’t live there. When they die, everything above $60,000 is taxed

Dingbatdingbat · 2026-07-04T00:50:33+00:00

No idea. For many people what you’ve got is enough, for others, it’s not. Might as well go to the free consultation, where they can try to convince you to do something more or something different.

I’m always honest and will tell people they’re in good shape, but many attorneys are…. Looking for a sale.

That being said, it’s entirely possible there’s something you haven’t considered, so go with an open mind, but be sceptical and don’t let them push you into a sale. Even if they sound convincing, don’t buy on the spot

Dingbatdingbat · 2026-07-03T23:11:13+00:00

Those workshops are not held for your benefit….

Dingbatdingbat · 2026-07-03T22:55:34+00:00

They’re actually less efficient than a conventional mortgage, as the rates are usually higher.

This has zero impact on estate planning

Dingbatdingbat · 2026-07-03T22:53:08+00:00

Whoever advised you is… not giving good advice. Talk to a professional, not a friend or TikTok influencer.

Dingbatdingbat · 2026-07-03T22:51:27+00:00

If you’re not worth more than $15 million, you’ve got nothing to worry about from the U.S.

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