Proper estate planning can help you accomplish multiple different goals within your estate and elder law plan but only when you are clear about what this looks like and have a comprehensive plan crafted by a knowledgeable Massachusetts estate planning lawyer.
Being under the impression that just because your house is in a trust it is fully protected from a MassHealth lien or estate recovery issue is inaccurate. Working directly with an elder lawyer will increase your level of confidence in your overall planning strategy and give you clarity on what to expect.
Only a house that is placed inside an irrevocable trust that is designed by an experienced attorney for the purposes of protecting the property can receive that protection from a MassHealth lien and estate recovery.
A realty trust or a revocable trust are some of the most popular types of trusts created by people for their homes. The purposes of these trusts are to reduce estate taxes and to simplify the estate administration process by minimizing probate. While these are valuable estate planning tools for their own purposes, they do not protect your house from estate recovery or from a MassHealth lien.
If you have a revocable or realty trust, you’ll need to revisit your estate planning strategies with the support of a Massachusetts estate planning lawyer today to learn more about how to create an irrevocable trust that helps you achieve these additional goals. Planning for your future and the possibility of relying on MassHealth for medical care is important. The details matter so retain and experienced Massachusetts estate planning lawyer to assist you.
