Irrevocable Medicaid Trusts

The Irrevocable Medicaid Trust is one possible solution available to clients seeking to implement a strategy that seeks to insulate some or all of that person’s assets from having to be committed toward long-term nursing home care costs, while retaining only an income interest in the trust. These asset-protection strategies are more fully discussed in our Elder Law Planning section.

By transferring assets into an Irrevocable Medicaid Trust, the assets in the trust will be protected from having to be used to pay for nursing home care. The challenge for the grantor, i.e., the person who places his or her money/assets into an irrevocable trust, is that he or she must surrender dominion and control over the assets and typically stay out of a nursing home for five years.

Some considerations:

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