Asking for my inlaws, my MIL is having health problems including early onset dementia. Things have progressed pretty quickly where it seems she may need to go into a facility.
I know there's a 5 year look back for assets/spending for nursing homes/memory care facilities. My question is, does this include irrevocable trusts? They had an I.T. done less than a year ago and are wondering if that money is safe? They seem to think it can't be touched, but it seems to me even that may be included in a 5 year look back otherwise why wouldn't everyone wait until something happens then get an I.T. done just before a loved one enters a facility?
Any help appreciated.
I know there's a 5 year look back for assets/spending for nursing homes/memory care facilities. My question is, does this include irrevocable trusts? They had an I.T. done less than a year ago and are wondering if that money is safe? They seem to think it can't be touched, but it seems to me even that may be included in a 5 year look back otherwise why wouldn't everyone wait until something happens then get an I.T. done just before a loved one enters a facility?
Any help appreciated.