How They Work and What Happens When You Combine Them By GREG DAUGHERTY Updated December 20, 2022 Reviewed by DORETHA CLEMON Fact checked by SUZANNE KVILHAUG A reverse mortgage allows you to access a portion of your home equity while you are still living there.

If you put that house in an irrevocable trust, you might be able to avoid paying estate taxes when you die and get Medicaid benefits more easily if you ever have to live in a nursing home.