This form may be used to establish an Irrevocable Reversionary Living Trust, with the United States as Grantor; to provide secondary payment for medical benefits to the beneficiary named in the form.
The Louisiana Irrevocable Diversionary Inter Vivos Medical Trust is a legal instrument designed to secure and manage medical expenses for individuals in Louisiana. This type of trust is established during a person's lifetime and cannot be altered or revoked once executed. It serves as a valuable tool for individuals who want to maintain control over their healthcare and ensure the availability of funds for medical needs. Keywords: Louisiana, Irrevocable Diversionary Inter Vivos Medical Trust, healthcare, medical expenses, legal instrument, lifetime, revoke, control, funds, needs. Different types of Louisiana Irrevocable Diversionary Inter Vivos Medical Trust: 1. Special Needs Trust: This type of medical trust is designed specifically for individuals who have special needs or disabilities. It allows them to protect their eligibility for government assistance programs while providing funds for medical expenses not covered by such programs. 2. Charitable Lead Trust: A charitable lead trust is a variation of the Louisiana Irrevocable Diversionary Inter Vivos Medical Trust that allows individuals to transfer assets to a trust, with the income generated from those assets going to a charitable organization during their lifetime. After the individual's passing, the remaining assets are distributed to beneficiaries. 3. Medicaid Planning Trust: This type of medical trust is established to assist individuals in qualifying for Medicaid benefits while protecting their assets. By placing their assets in an irrevocable trust, individuals can meet the eligibility requirements for Medicaid coverage while still having access to necessary medical care. 4. Retirement Medical Trust: A retirement medical trust is set up to provide individuals with a dedicated fund for medical expenses during their retirement years. By establishing this type of trust, individuals can ensure they have the necessary funds to cover healthcare costs not covered by insurance or other retirement benefits. 5. Family Irrevocable Diversionary Inter Vivos Trust: This type of medical trust is created to benefit the entire family. It allows for the management of medical expenses and ensures that all family members have access to necessary healthcare. This trust can provide peace of mind knowing that medical needs will be taken care of for all family members. These various types of Louisiana Irrevocable Diversionary Inter Vivos Medical Trusts offer individuals options to secure their future medical needs, protect their assets, and ensure they have the necessary funds for proper healthcare in different circumstances.
