7 Reasons a RLT is better than a will
In North Carolina, the probate process can take months before assets can be distributed to beneficiaries. (Please see Willett Legal’s article on the Probate Process in North Carolina). Only after administrative costs, taxes, and debts of the estate have been paid and all administrative procedures have been completed may the personal representative distribute the remaining estate assets according to the will.
What is a Medicaid Asset Protection Trust?
A trust, in general terms, is nothing but a set of instructions that a Trustmaker gives to a Trustee who agrees to carry out those instructions. A trust may be revocable or irrevocable. A Medicaid Asset Protection Trust is irrevocable but irrevocability does not mean inflexible.