Legal Question in Elder Law in Massachusetts

Can my IRA's be put in a trust in addition to my home and bank accounts? If so how do I access the monthly income I need to live on.


Asked on 3/19/16, 12:34 pm

1 Answer from Attorneys

No. If your concern is probate you can make individuals your beneficiary or a Trust. However, the IRA accounts themselves cannot be assigned to a Trust. Likewise, if you take withdrawals from an IRA and are concerned about creditors other than Medicaid then open a separate account for those funds as well as for your Social Security Payments.

If you want to discuss this matter further, please feel free to call me without obligation.

Read more
Answered on 3/20/16, 9:03 am


Related Questions & Answers

More Elder Law questions and answers in Massachusetts