Proceeds from home sale in name of trust
I have a home in a trust, my sister and I are trustees. When the home is sold are the proceeds considered personal assets with regards to medicare benefits?
Thank you
Asked on 9/18/06, 6:13 pm
1 Answer from Attorneys
Frank J. Pyle
Probate Attorney Throughout Florida
Re: Proceeds from home sale in name of trust
Depends on the terms of the Trust, who is/are the beneficiaries?, beneficiaries of income and/or corpus?,etc. And by the way, I guess you are talking about someone qualifying for MEDICAID, not Medicare. Medicare coverage exists or doesn't exist apart from income and assets. Although the answer to your question is probably yes, you need to contact an attorney very familiar with MEDICAID.
Answered on 9/18/06, 7:11 pm
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