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lady bird trust

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rjsteinert Joined: 14 Nov 2010 Posts: 1 1.00 Dollars($)	Posted: Sun Nov 14, 2010 7:24 am    Post subject: lady bird trust Like 0 Dislike 0 my brother in law is educationally challenged since 3 rd grade and we have documentaion for that and has medical problems. 3rd stage kidney failure, elevated b/p and anemia. he has been denied medicaid because of owning a house and having investments from his mothers death. we contacted a lawyer and they suggested a lady bird trust but my husband and his brother are concerned that he won't be able to pay the taxes out of the trust. is that true? my husband writes all the checks because of my brother in laws learning diabilities. any help with this would be helpful. Thank you for your time. He has been unempl;oyed for about a year and his unemployment is running out and he doesn't qualify for medical help.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Sun Nov 14, 2010 9:45 pm    Post subject: Like 0 Dislike 0 Hi rjsteinert, Though the property is placed in a trust, you and your family members will be liable for paying the property taxes. Your brother-in-law can transfer the property to your husband. Once he becomes liable for the property, he will be paying the taxes. Thanks

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