My first thought was that my only knowledge of blind trusts being used is in politics, when assets need to be put into a blind trust to temporarily remove control (and I assume potential conflict of interest) from an individual.
Waterpa, if I post a link to an explanation, part of the link might be removed, so I would just google "blind trust" and read the explanation.
Since the definition explains that the beneficiaries have no knowledge or right to be involved in the management of the assets, I can see that it would essentially take it out of your control (if you're thinking of yourself.)
And that might be considered by Medicaid as sequestering assets.
GSA is right; you absolutely need to raise this issue with an attorney before even considering a blind trust.
Ask attorney. Typically trusts are considered an asset unless they follow specific Medicaid guidelines. Things that are used to avoid probate are not always Medicaid compliant and your states laws may differ.
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Waterpa, if I post a link to an explanation, part of the link might be removed, so I would just google "blind trust" and read the explanation.
Since the definition explains that the beneficiaries have no knowledge or right to be involved in the management of the assets, I can see that it would essentially take it out of your control (if you're thinking of yourself.)
And that might be considered by Medicaid as sequestering assets.
GSA is right; you absolutely need to raise this issue with an attorney before even considering a blind trust.
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