Irrevocable Trust

The cost of long term care is astonishingly expensive. Before MassHealth will begin to pay for this care, assets held by the patient must be exhausted. This can be heartbreaking for the patient: an entire lifetime of work can be spent in the matter of a few years. What was once a lasting legacy is now a pittance.

An irrevocable trust separates the patient from their assets. So long as certain requirements, including a stringent look-back period, are met, assets can preserved for future generations. An irrevocable trust is not for everyone. Under Massachusetts Law, the individual cannot have any access to the assets. Further, timing is everything. If the trust is settled too late, it may not be effective in preserving the Settlor's assets.

While an  Irrevocable Trust is not right for most clients, for those who are concerned about preserving assets or have a strong likelihood of needing long-term care, an Irrevocable Trust is a option worth consideration. If you would like more information or would like to schedule a consultation, enter your information below. 

Legal disclaimer: the information provided on this site is for informational purposes only. An estate plan must be tailored to a client's individual needs. This page is not meant to provide legal advice and no attorney-client privilege exists until an engagement letter is signed. Always consult qualified legal counsel prior to executing any legal documents.