Medicaid Trust Assessment
Is a Medicaid Trust Assessment right for you?
The Medicaid Trust Assessment is your opportunity to receive researched answers and professional guidance regarding your irrevocable trust to determine whether the trust assets would be considered available (or countable) in the state where the Medicaid applicant or prospective applicant lives.
Who is this service for?
Medicaid Trust Assessment is perfect for families who are considering applying for Medicaid long-term care benefits in the future and who already have used different financial tools to manage their estate. It’s a service for people who have very specific questions about the impact of the trusts they already have in place on their Medicaid Eligibility.
How we help?
We give you detailed information on whether the trusts already in place affect the applicant’s Medicaid eligibility and whether you might be subject to a penalty period. Our discussion can include ways to mitigate any penalties or risks associated with having a trust when it comes to Medicaid benefits.
What to expect?
Families often use estate planning tools and techniques, such as trusts and wills, to make the management of their estate easier for their heirs and to save money on taxes. Unfortunately, these same tools can become an unintended barrier for long term care Medicaid benefits. When assets such as properties and financial securities are transferred to a trust, the Medicaid authorities may consider this a “gift,” which is prohibited in the five years prior to applying for Medicaid.
Others hope that a so-called Medicaid trust can help them save thousands by protecting money from the reach of the Medicaid authorities or the Medicaid recovery programs. The truth is that Medicaid trusts are incredibly complex and challenging to do right.
This unique service also provides you with clarity on whether the Medicaid authorities could penalize the applicant for transferring funds into the trust within the lookback period. Our discussion can include ways to mitigate any penalties or risks associated with having a trust when it comes to Medicaid benefits.
We also include concisely written follow-up material so that the information discussed during the consultation will be available for your future reference.
How to get started?
Fill out the contact form below and one of our benefits associates will be in touch soon to arrange for a free initial consultation.