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Creating a Trust May be in Your Best Interest

A Last Will and Testament addresses how a person wishes his or her assets to be distributed upon their death. A Will sets forth detailed information regarding the distribution of any real property, vehicles, boats, tangible and intangible belongings, and often life insurance, among others. In addition, it may also designate certain assets to charitable […]

Selling a Home in an Irrevocable Trust and Purchasing a Different Property

An irrevocable trust can be created to preserve assets in the event that a person requires long-term care through the Medicaid program, which is a primary payer of skilled nursing facility costs. In order to be eligible for the Medicaid program, an applicant must meet specific income and asset requirements. In most instances, individuals will […]

Mortgaging A Property In A Trust

Many individuals wonder if they can obtain a mortgage on real property that is owned by a Medicaid trust. Unfortunately, a bank will not likely offer a mortgage or home equity line of credit for property that is in an irrevocable trust. However, in New York State, a Medicaid trust that is irrevocable can be […]

Blodnick Fazio & Associates
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Garden City, New York 11530
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