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Trusts, Wills, Estate Planning

As Senior professionals, we often see homeowners who have wills which transfer personal property, and think that is enough for the home owned. A trust with a designated Executor will dictate how to take care of real estate and other owned financial instruments. A will gives direction as to what personal property goes where.

Sometimes, we see that there is a trust, but it has not been "funded". E.g., A homeowner has a trust written up, but never moves title of the home into the name of the trust, so the homeowner retains ownership at time of death, thus creating a probate issue.

The easiest way to avoid probate is to make sure a fully funded trust is in place. This means that assets are turned over to the trust and the trust will hold them, remaining "alive" after the owner has passed on.

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Have a funded trust?  Is it written properly to sell the home?

Please let our title company attorneys review it to make sure it is written correctly for the state of Utah! Sometimes it has not been written quite right, even though an attorney was involved.

Call 801.589.5817 ask for the Senior Division to get information on free Title company trust reviews before listing your home to sell!

If you want to go directly to an attorney who knows how to create Trusts, Wills, and does proper estate planning that is senior friendly, please click the button below to speak with Eric Barnes, Elder law Attorney. There are only a few in the state!

Wills, Trusts, Estate Planning

Medicaid Asset Protection Trusts  &  Veterans Asset Protection Trusts

Medicaid:

Assets need to be transferred to the trust at least 5 years prior to the filing of a Medicaid application.

VA Pension benefits.

There is currently no look-back period for VA pension benefits.

If the VA Pension is a part of your long-term care plan, it is suggested that you create and fund the trust since VA laws change.

To do these trusts properly, click the button below to connect with Eric Barnes, Elder Law Attorney.

Asset Protection Trusts

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