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Just got back from the fun today of taking over my father's place as trustee in the family trust.  The Dr. signed off on the paperwork, and told us he needs to go to a home now.  Now I've got the fun of making sure that all his assets are covered by the trust before he goes to the home.  Sadly, I think it's going to be about a year at most.

 

My father spent 41 1/2 years in the service, and retired a Major.  He was training as a B-24 radar navigator to firebomb Japan at the end of the war.(Army Air Corp)  During Korea, he was Air Force Reserve, and got called, but then was below the cutoff for bomber crews.  Rest of his service was in the WI Army Guard.  He went out to Ft. Lewis during the Berlin Crisis.  He was, when I was born, my unit's company commander.  As a Guard pilot, he flew both fixed and rotory wing aircraft.  When he was company commander the OH-58A's that were in my unit arrived, I was there to see them leave.  He was also artillery and meteorlogical trained.

 

And for you Marines, he helped build (engineering dept) the Rockwell axels that went on your LAV's. 

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I am sorry about your situation. We had to go through this with first Dad, then Mom about 8-10 years ago. Now I need to talk about economic stuff that you probably do not want to hear. So be it. Mom and Dad had practically no decent wills or living trusts. What they had was not legally worth shit.

 

Make sure your family understands who will be the controlling the distribution of the estate and who gets what and when. If you name a exect-a-tor, (spell check not worth a shit here) (the guy who oversees the liquidation of the estate or trust) be sure all of you understand what he will do for and to you.

 

We had no trust. All the estate was divided unequally and unfairly between the surviving three kids by a Dad's lawyer "friend" who was very dishonest. The estate was $skimmed$ big time. Do not let this happen to you. I know it is hard trying to predict what bad stuff that may or may not happen.

 

So much of our family value just disappeared. Dads guns were worth at least $25,000 and not penny was ever recovered. They just vanished. Lots of other $stuff$ just vanished also. Inventory everything. Nobody will do this for you. Good luck being in charge of your family trust.

 

HB of CJ (old coot) My lawyer told me years ago it would be very difficult to prove the lawyer "friend" took anything. Thus my concern for you.

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I'm not too worried about executor of the trust, as both I and my sister were trustees-in-waiting.  When my father went, I take his place, and when my mother went, my sister takes her place.  We have within the trust, provisions so that if one trustee/or becomes physically or mentally disabled, it causes a succession of trust, and one of us becomes trustee.  This is what just happened.  I am now a trustee along with my mother.  Both my sister and I are also beneficiaries of the trust.  But, we can't divide the trust up while the trustor's are alive, as our duties as trustee are to care for them.

 

But the big thing now is to protect all of my father's assets within the trust so that Medicare/Medicaid/Tri-care can't touch them while he's in the home.

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I do not know if "Obama-Nation Care" does the same thing as our august Oregon Health Care Plan. What happens up here is that if a person goes under the Oregon State Plan. and if you have an estate, then after death any and all medical expenses run up under the Oregon Health Care Plan are seized out of the dead persons estate, if any, including homes, real property, etc.. A nasty provision not understood by most plan subscribers. Just another shitty thought. HB of CJ (old coot) sad.png

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Medicaid does the same.  But once the entire estate is under the trust, those assets are trust property and are not "his" property, so there's no estate for them to raid.

 

I'm working with one of the best trust attourney's in the state, so I'm not too worried about it.  It's just a matter of making sure everythings covered and not open to attack.

 

And thanks all for your prayers!

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Medicaid does the same.  But once the entire estate is under the trust, those assets are trust property and are not "his" property, so there's no estate for them to raid.

 

I'm working with one of the best trust attourney's in the state, so I'm not too worried about it.  It's just a matter of making sure everythings covered and not open to attack.

 

And thanks all for your prayers!

Not many know this, when you sign up for the crap it is in the fine print.

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