What is an Irrevocable Trust in New Jersey?
A trust is a legal vehicle which allows the trust to be controlled by a trustee who directs those assets to the trust's beneficiaries. The assets in irrevocable trust are considered “non-countable” in your long-term care plans.
Other assets that are non-countable include:
>Your primary residence and rental properties.
>Personal property including furniture and jewelry
> Home improvements
>Life insurance
>401K and IRA accounts
>Assets you have attempted to sell in good faith
>Pre-paid burial services
Discuss any of your estate planning needs during a consultation, call (732) 785-4453
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