Trusts, like everyone else, pay taxes when they earn income or sell capital assets for a profit. The tax liability, however, can be shifted to – or more properly retained by – the Grantor (the person creating the trust) if the Grantor retains certain powers identified in IRC Sections 671 – 679. Trusts are frequently […]
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People often visit us and ask about using a trust to protect assets in the event they go to a nursing home. They are asking about trusts that don’t count toward Medicaid eligibility and protect their assets. Although the name at the top of the document is unimportant, these are frequently referred to as Medicaid […]
