Medicaid ComplIAnt Trusts
One of the most reliable ways to protect your assets and provide for the cost of nursing home care is to create a Medicaid-compliant trust. In many ways, this is an invaluable tool for Medicaid planning, allowing earlier qualification for Medicaid benefits. Additionally, the assets placed in a Medicaid trust can provide for needed care more quickly, all without causing a disqualification from Medicaid benefits. With our extensive training and years of experience, we can help you determine whether a Medicaid trust is the best approach for your situation and, if appropriate, help you establish a Medicaid trust that meets your needs.
Other Medicaid Techniques
In most situations, the Medicaid trust is only applicable when planned out well in advance. However, there are some cases in which our clients did not have the opportunity to plan, so short-term solutions are more appropriate, particularly when our clients are in “crisis” mode. We can help you in a wide range of Medicaid planning matters, no matter the timing.
Because transferring assets can negatively impact your qualification for Medicaid, you may need to “spend down” your assets. The Medicaid rules and regulations pertaining to disposing of assets are complex. Our team can help you with spend-down planning in a way that will minimize your loss of resources and ensure that you qualify for Medicaid as quickly as possible.
When a crisis arises that requires you or a loved one to enter a long-term health care facility without adequate preparation time, quick and aggressive intervention is necessary. We can help you get everything in place efficiently, so you qualify for the assistance you need as quickly as possible.
Although not always feasible, we like to work as far in advance as possible to protect our clients’ finances in the face of any potential crisis. With a thorough, well-conceived estate plan, such as a Medicaid compliant trust, our team can help you prepare for the unexpected.