Which assets do I place in the Family Trust?
You select the assets you want to transfer to the Family Trust. The Family Trust is a safe place to hold family assets. Property such as the family home, summer cottage, bank accounts, life insurance, stocks, bonds and securities can be transferred to the Family Trust.
Your checking account, working bank accounts, retirement accounts, automobiles and social security and pension income remain in your own individual name. You continue to pay your own bills and make your own decisions.
Still Have More Questions?
Contact our experienced Upstate New York elder law attorneys to schedule a free initial consultation.
Our firm focuses our practice on estate planning and Medicaid planning. We are also very experienced in handling elder law, irrevocable trust , revocable trust, basic estate planning(Will, Power of Attorney, Health Care Proxy), Medicaid law , and children with disabilities / supplemental (special) needs trust matters.
The Koldin Law Center handles the entire Medicaid application process for the client with the goal of preserving and protecting some or all of the family life savings from the costs of Nursing Home care.