IRREVOCABLE INCOME-ONLY TRUST - IIOT
A living trust frequently used for Medicaid planning, which safeguards the assets of an individuals from being sold to pay for nursing home and other long-term care expenses, so that the assets can be inherited by the beneficiaries. Although the assets have certain restrictions, the grantor retains the right to any income yielded by the trust assets and use it as well.
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Controlling Interest
High enough ownership percentage to impose changes or have legal control in a company. A single shareholder or a group of shareholder owns more tha ...
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