What is a Medicaid Income Trust?

What is a Medicaid Income Trust?

A Medicaid income trust is also known as an irrevocable qualified income trust. When a person is trying to qualify for Medicaid, if their income is above the income limit, we use that qualified income trust to make you eligible. It’s just a vehicle or tool that...
What is a Restated Trust Agreement?

What is a Restated Trust Agreement?

A restated trust agreement is an amendment. Typically, it’s an amended and restated trust. Oftentimes, it’s used if you’ve had three, or four, or five amendments, you don’t want all those documents hanging around. You want to make sure...

Personal Representative Standard of Care

A Personal Representative is a fiduciary who shall observe the standards of care applicable to trustees. A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distribution requirements, and other circumstances of the...