How do you fix a problem within an irrevocable trust that was created by another attorney? There are a number of issues that can be created by language deficiencies or outright planning mistakes within an irrevocable trust that would render assets available for Medicaid purposes. Join Howard Krooks as he discusses various problematic scenarios that could occur in an irrevocable trust, and how to fix them.
- Credit shelter trust with spouse as beneficiary
- Third Party Trust for the benefit of Medicaid Applicant
- Irrevocable trust with no trust protector and unfavorable provisions
- Mismanagement on the part of the Trustee
- Mandatory income to the grantor—is this a problem?