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BerkeleyCA Asked May 2014

Is it too late to establish a trust fund?

My mother was diagnosed at moderate to severe Alzheimer's last year. She does not have a will. Her condo, car, and bank account are in her name. My brother lives with her now and is taking care of her, but we all know she will need a facility at some point. Can we protect any assets at this point?

Linda22 May 2014
Medicaid will do a 5 year look back at her assets. Her assets can be used for her care and personal needs but gifting money or transferring assets will trigger penalties for her.

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