if we have set up a medicaid trust and some of the contents include mutual funds, can we purchase additional shares of the mutual funds that are in the trust?

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if we have set up a medicaid trust and some of the contents include mutual funds, can we purchase additional shares of the mutual funds that are in the trust?

The Trust is irrevocable.

Asked on March 10, 2013 under Estate Planning, New York

Answers:

Catherine Blackburn / Blackburn Law Firm

Answered 8 years ago | Contributor

I assume you are asking about a special needs trust created to preserve a disabled person's eligibility for Medicaid.  Those trusts have very specific requirements that vary from state to state and are often under court supervision.  I suggest you ask the lawyer who set up the trust in the first place if you can make this transaction.


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