When you put your house into an irrevocable trust, you can set it up so that you still have access to it. This would allow you to continue living in the house even though you are not technically the owner of it anymore. You can set up the trust to allow you to use the house for ...
If your house is in a trust, will paying off the mortgage affect the successor trustee? Q: Well, I just paid off my house and don’t know what the next steps might be. I did receive a letter from my mortgage lender congratulating me on paying off my loan but I don’t know what ...
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I live in eastern Massachusetts, which has no state tax on Social Security or my pension. My house is paid for. I have an irrevocable trust for my three adult children. I am healthy and have good health insurance, and I’ve built up a “...
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I would like to prepare a will that leaves my house to the three children but puts one-third of the house in a special needs trust to benefit my child with disabilities. Is this even possible? I believe a house (and other assets) can be left to an irrevocable third-party special ...
turn upside down. My friend, who held a good paying job used all of her income in which to live and pay monthly bills.HOWEVER, all of the couples real estate holdings were held in the name of an irrevocable trust. For my friend, this was bad. The irrevocable trust only named my ...
And while there is a five-year look-back rule for Medicaid eligibility, he could also set up a Medicaid Asset Protection Trust, an irrevocable income-only trust, which can protect the assets of the Medi...