Q: I would like to update my living trust, which was established in California, to be compatible with Texas Law.
I wish to avoid probate and protect new Texas residence and retirement IRA accounts from Medicaid spenddown requirements.
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A: You can hire a Texas attorney to do a restatement of your trust, it will allow you to update it to texas law. However a living trust is not the correct vehicle for medicaid reimbursement protection. You should talk to an estate planning attorney that focuses on planning for medicaid (elder law attorneys), in particularly you should make yourself familiar with the restrictions and "lack of ownership control" that comes with these trusts.
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