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Originally Posted by LisaJ
Thank you for this post!!! Hubby and I are currently researching long term care and trying to decide what to do. Does anyone have any advice on putting your assets in a trust? I'm told if your assets are in a trust they can't touch your assets??? Not sure how reliable this information is and would love to hear other opinions.
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Thar's a very good question. To protect assets from Medicaid I think you have to completely give up control, i.e. non-revocable trust. This is different from a Living Trust, which does little more than avoid probate.
I have meticulously defined beneficiaries on financial assets which trumps a Will. My homes are the only major asset hanging free and I keep hoping for legislation to allow Beneficiary Deeds in my states. I'll keep hoping, maybe some day.