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Forum
-> Household Management
-> Finances
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amother
OP
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 Thu, Jan 04 2024, 10:58 am
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I'm trying to understand how it works. have aging parents in Israel who have everything in their name , and their assets are mostly in US accounts. I understand its better to have everything in a trust but where do we start?
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amother
Canary
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Thu, Jan 04 2024, 11:03 am
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Contact a trust and estates attorney in the state where you live who also, practices international law
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amother
OP
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Thu, Jan 04 2024, 1:34 pm
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I'm asking for advise from others who have helped parents with this?
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bellaball
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Thu, Jan 04 2024, 2:50 pm
Every state is different.
Are you referring to NY?
My husband is an attorney, you can PM me if you wish.
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amother
Bluebell
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Thu, Jan 04 2024, 3:10 pm
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I’m looking into it now. You can have a revocable or irrevocable trust. The revocable trust will avoid probate. The irrevocable trust will ready the account for Medicaid. There are consequences for moving the money into a trust, so you should speak to a trust & estate lawyer to get the details. It’s worth a consultation.
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