The best candidates for Medicaid Trusts are individuals who are healthy enough today that long-term care is not an immediate concern, but who want peace of mind that their family will be protected if care becomes necessary down the road.
Medicaid trusts are not the right tool for every family.
Because they are irrevocable trusts, they involve giving up direct control over the assets you transfer, and they must be drafted with precision to satisfy both state and federal rules.
If you would like to discuss whether a Medicaid Asset Protection Trust fits your situation, the Gregory Law Firm offers confidential consultations to review your assets, your goals, and the planning strategies available under your state’s rules.
This article is for general informational purposes only and does not constitute legal advice. Medicaid rules vary by state and change frequently. Please contact us to schedule an online appointment to discuss this and other estate planning ideas and to create your custom estate plan.