I am speaking with the mother of a co-worker about Medicaid planning. She is an other wise healthy 82 yo with assets of approximately $130K including a PSIP thru former employer that distributes once/year (currently value appx 90K). She would like to preserve as much as possible for her children. Two options I see irrevocable trust continuing to pay out on same schedule or wait and do a gift/loan at crisis time. Two questions: 1) is one better than the other at this stage and 2) other options.
Thank you in advance for reply.