If before my mom’s alzheimers got bad she put 2 CD’s in trust for my sister and but she now goes to a nursing home, do the CD’s become theirs?

Get Legal Help Today

 Secured with SHA-256 Encryption

If before my mom’s alzheimers got bad she put 2 CD’s in trust for my sister and but she now goes to a nursing home, do the CD’s become theirs?

What if we cash them before she has to go?

Asked on November 16, 2013 under Estate Planning, Pennsylvania

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

There are many facets of estate planning and too many questions here that are unanswered to give you the "perfect" response.  Basically if an Irrevocable Trust was created and it it were properly funded and managed for 5 years before she entered in to the nursing home they would be exempt from medicaid attachment.  But what your Mom actually did with the CD's and the instrument used to create the trust will need to be looked at by an attorney before you cash out anything.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption