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.
A Franklin Ohio Irrevocable Diversionary Inter Vivos Medical Trust is a legal document that allows individuals to protect their assets and plan for future medical expenses in the state of Ohio. This trust is designed to ensure that the assets put into the trust are used solely for medical purposes and that any remaining assets are distributed according to the individual's wishes. Keywords: Franklin Ohio, Irrevocable Diversionary Inter Vivos Medical Trust, legal document, assets, medical expenses, protect, future, Ohio. There are two main types of Franklin Ohio Irrevocable Diversionary Inter Vivos Medical Trusts: 1. Medicaid Planning Trust: This type of trust is specifically created to meet the eligibility criteria for Medicaid benefits. By transferring assets into this trust, individuals can potentially qualify for Medicaid coverage while safeguarding their assets for medical expenses. The trust allows individuals to receive necessary medical care while protecting their assets from being taken by Medicaid for repayment. Keywords: Medicaid Planning Trust, eligibility criteria, Medicaid benefits, transferring assets, qualify, medical care, safeguard, repayment. 2. Special Needs Trust: This type of trust is established for the benefit of individuals with disabilities or special needs. It allows funds to be held in trust, ensuring that the beneficiary can still receive government benefits like Medicaid or Supplemental Security Income (SSI) while also accessing additional funds for medical expenses not covered by those benefits. By placing assets in this trust, individuals with special needs can ensure their medical needs are met without jeopardizing their eligibility for government assistance. Keywords: Special Needs Trust, disabilities, special needs, government benefits, Medicaid, Supplemental Security Income, additional funds, medical expenses, eligibility. In conclusion, a Franklin Ohio Irrevocable Diversionary Inter Vivos Medical Trust is a powerful legal instrument that provides individuals with the opportunity to protect their assets, plan for medical expenses, and potentially qualify for Medicaid benefits. By establishing either a Medicaid Planning Trust or a Special Needs Trust, individuals can ensure their medical needs are met while preserving their financial well-being and eligibility for government assistance programs.A Franklin Ohio Irrevocable Diversionary Inter Vivos Medical Trust is a legal document that allows individuals to protect their assets and plan for future medical expenses in the state of Ohio. This trust is designed to ensure that the assets put into the trust are used solely for medical purposes and that any remaining assets are distributed according to the individual's wishes. Keywords: Franklin Ohio, Irrevocable Diversionary Inter Vivos Medical Trust, legal document, assets, medical expenses, protect, future, Ohio. There are two main types of Franklin Ohio Irrevocable Diversionary Inter Vivos Medical Trusts: 1. Medicaid Planning Trust: This type of trust is specifically created to meet the eligibility criteria for Medicaid benefits. By transferring assets into this trust, individuals can potentially qualify for Medicaid coverage while safeguarding their assets for medical expenses. The trust allows individuals to receive necessary medical care while protecting their assets from being taken by Medicaid for repayment. Keywords: Medicaid Planning Trust, eligibility criteria, Medicaid benefits, transferring assets, qualify, medical care, safeguard, repayment. 2. Special Needs Trust: This type of trust is established for the benefit of individuals with disabilities or special needs. It allows funds to be held in trust, ensuring that the beneficiary can still receive government benefits like Medicaid or Supplemental Security Income (SSI) while also accessing additional funds for medical expenses not covered by those benefits. By placing assets in this trust, individuals with special needs can ensure their medical needs are met without jeopardizing their eligibility for government assistance. Keywords: Special Needs Trust, disabilities, special needs, government benefits, Medicaid, Supplemental Security Income, additional funds, medical expenses, eligibility. In conclusion, a Franklin Ohio Irrevocable Diversionary Inter Vivos Medical Trust is a powerful legal instrument that provides individuals with the opportunity to protect their assets, plan for medical expenses, and potentially qualify for Medicaid benefits. By establishing either a Medicaid Planning Trust or a Special Needs Trust, individuals can ensure their medical needs are met while preserving their financial well-being and eligibility for government assistance programs.
