Can a trust be used to reduce the size of assets?
Yes. There are a few kinds of trust that can be used for Pension benefit asset protection planning. However, you must work with an attorney who has knowledge of Federal trust law, State trust law, tax law, VA rules and Medicaid law. For example, even the issue of determining who is to become trustee of the trust takes a very complex legal analysis, and making a wrong determination will disqualify the veteran for the VA pension benefit or/and possible future Medicaid eligibility. You really need to talk to a trust lawyer who practices this area of law in your state.
