Medicaid Planning
Helping you qualify for Medicaid benefits while protecting your assets through comprehensive planning and legal strategies.
Advances in medical care have provided longer live spans across the spectrum. It is not uncommon for clients to live happy healthy lives into their late 80s and beyond. However, there are some cases where a longer life comes with additional medical needs that can be extremely expensive. The cost of long-term care is one of them.
With the use of a Medicaid Asset Protection Trust, we can help our clients try to preserve assets, most commonly a home, from being attached as a countable asset should someone need Medicaid to cover home care or residing at a nursing home.
Each family has a different set of facts and circumstances which need to be addressed in developing this type of planning. We encourage you to set up a consultation to speak with us to discuss how we can best help you plan for the future.
What We Do...
" ... not simply moving a home into a Trust."
A Medicaid Asset Protection Trust is not simply moving a home into a Trust. There are other factors that must be taken into consideration, and we work with our clients to make sure that they understand these issues. We encourage our clients to work with their accountants to make sure they understand the tax ramifications of moving a house into this type of trust and how it may affect future capital gains taxes. We advise our clients to speak with their insurance carrier to make sure transferring the home into a trust will not change their insurance premiums too much. We also advise clients who may have a mortgage on the property about the potential ramifications of transferring the property into a trust.