17-Aug-22
Self-Settled Income-Only Trusts, Medicaid and the Power to Adjust
Take-Away: An income-only self-settled trust enables a settlor to qualify for Medicaid eligibility. The danger is that if the settlor retains other rights in and to the corpus, that then makes the trust’s assets ‘countable’ for Medicaid eligibility. In addition, giving the trustee the ‘power to adjust’ under the Michigan Uniform Principal and Income Act […]
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