Medicaid Trust Planning

If you’re considering a Medicaid Trust as part of your long-term care planning, it's essential to follow a strategic process to ensure the protection of your assets and eligibility for Medicaid. Here's a helpful checklist:

1. Assess Your Assets

   Begin by evaluating your assets, including your home, bank accounts, retirement savings, and investments. A Medicaid Trust is typically used to protect these assets from being spent down, so understanding what you own is the first step.

   
   

2. Consult an Elder Law or Estate Planning Attorney

   Medicaid Trusts are complex, and structuring one correctly is crucial. Our experienced attorneys will ensure that the trust is set up in compliance with state-specific Medicaid rules, the five-year look-back period, and other requirements

   
   

3. Determine the Right Type of Trust

   There are different ways to structure a Medicaid Trust, including options that allow for continued use of your home or receiving income from trust assets.
   

4. Plan for the Look-Back Period

   Because Medicaid has a five-year look-back period, any asset transferred into the trust within this window could result in a penalty period of ineligibility for Medicaid benefits. Planning ahead and setting up the trust early is essential to avoid delays in care.
   

5. Understand the Impact on Your Living Situation

   Medicaid Trusts often allow you to continue living in your home, if you need to move into a nursing home or another skilled care facility, other provisions must be made.  

   
   

Comprehensive Medicaid Planning: Beyond the Trust

While a Medicaid Trust is a cornerstone of asset protection, effective Medicaid planning often involves a broader strategy.