For medicaid purposes, I was advised to establish an Income Trust. The DPA states I can create any number of Inter Vivos trusts. My question is: is an income trust an inter vivos trust?
Answer
Yes. You have to establish the qualified income trust to qualify for Medicaid, and the inter vivos trust clause will work. Its really a bank account, or a legal fiction, that permits qualification. Inter Vivos means "during life."
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