[WSBAPT] Medicare Trust

[Marcus Fry]

Your client was told incorrectly.  Not uncommon.  Laypeople think there is only one type of trust and that their RLT protects from all kinds of creditors.  Resources held in a RLT are not exempt from being counted in Washington State for Medicaid.  See WAC 182-516-0115.

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.
P.O. Box 1689
Yakima, Washington  98907
Telephone:  (509) 248-7220
Facsimile:  (509) 575-1883

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of michael westseattleattorney.com
Sent: Tuesday, July 27, 2021 8:25 AM
To: WSBA Probate & Trust Listserve
Subject: Re: [WSBAPT] Medicare Trust

Correction - drafter used words : " .. protects in case you or a family member needs to apply for state financial assistance"

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________________________________
From: michael westseattleattorney.com <michael at westseattleattorney.com>
Sent: Tuesday, July 27, 2021 8:11 AM
To: WSBA Probate & Trust Listserve <wsbapt at lists.wsbarppt.com>
Subject: Medicare Trust

PC brought in a RLT from 2005 and said drafter told her that it protected her assets from Medicaid in case she went into a nursing home.  This was news to me. It is my understanding that the assets are considered to be in your estate when qualifying for meicaid. Yes, No?  Thanks

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