Clients throughout Baton Rouge come to our law firm to find out if a trust can be used to purchase a house for its beneficiary. And while a trust can be used for this purpose, several things must first be considered.
If the trust is funded with the beneficiary’s settlement proceeds then the house is subject to estate recovery. An alternative would be for the Medicaid recipient to purchase the house individually, but there are disadvantages to the beneficiary purchasing the house.
Which alternative is the best will depend on the age of the recipient and what other government benefits the recipient is receiving. For further information on how to purchase a house for a special needs trust beneficiary, please don’t hesitate to reach out to our Certified Elder Law Attorney and Certified Estate Planning Specialist at Losavio & DeJean, LLC, The Louisiana Elder Law Firm.
Dedicated Disability Law Attorneys
Our attorneys are here to assist if you need legal guidance regarding special needs planning for you or a loved one. Our legal team has 40+ years of experience and extensive specialized knowledge of various governed programs, and we will gladly take the time to help you determine which benefits you are entitled to. When you choose our firm to represent you, you can expect us to provide compassionate and empathetic legal counsel tailored to your unique needs.
Call our attorneys today at (800) 835-5864 to request your complimentary consultation.