Irrevocable vs. Revocable Trusts – Is One Better than the Other? (Part 2)
               Last week I explained that the initial reaction to irrevocable trusts vs. revocable ones is generally negative. People perceive there to be a loss of control or really a loss of the use of the funds transferred to irrevocable trusts. But, is that really true?                No, it isn’t because
Irrevocable vs. Revocable Trusts – Is One Better than the Other? (Part 1)
               When I talk about trusts – and specifically irrevocable ones – many people quickly reply that they don’t like irrevocable trusts because they don’t like the idea that they are losing control of their assets. They much prefer a revocable trust. Each type of trust has its uses but
Assisted Living Medicaid Isn’t Necessarily Forever (Part 2)
               Last week I was telling you about Joe’s dad. He had qualified for Medicaid in an assisted living facility (ALF) and been assigned one of the facility’s 10% of its beds that are set aside for Medicaid residents. Everything was fine until he fell and broke his hip. When
Assisted Living Medicaid Isn’t Necessarily Forever – Part 1
               Dad is in an assisted living facility (ALF) and is close to running out of money. I would like him to stay in that facility rather than moving him to a nursing home. In the past I have discussed the hurdles of getting assisted living Medicaid, which is different