Medicaid Asset Protection Trusts
Get Expert Guidance on Medicaid Asset Protection Trusts
Planning for long-term care shouldn't mean sacrificing your life's savings. Medicaid Asset Protection Trusts (MAPTs) are a key strategy to preserve your legacy while qualifying for essential care. Contact us to explore your asset protection options.
What Is a Medicaid Asset Protection Trust?
A MAPT is a specialized, irrevocable trust designed to hold your assets. By transferring assets like your home or savings into the trust, they are no longer considered "countable" by Medicaid after a critical waiting period, known as the five-year look-back.
Securing Your Assets for the Future
The primary goal of a MAPT is to shield your legacy from high long-term care costs. This legal tool ensures your hard-earned assets are preserved for your spouse or beneficiaries, rather than being spent down to meet Medicaid's strict eligibility limits.
The Importance of the 5-Year Look-Back
Timing is essential. Medicaid reviews all asset transfers made within five years of your application. Any assets moved into a MAPT during this "look-back" period can incur penalties. Start your planning early by scheduling a consultation with our experienced team today.
Is a MAPT Right for Your Estate Plan?
This strategy is ideal for those planning well in advance of needing care. A MAPT protects your wealth and provides peace of mind, but it requires careful consideration of its irrevocable nature. Let us help you determine if this trust fits your long-term goals.
Secure Your Legacy Today
Don't wait to protect your family's financial future. Navigating Medicaid rules is complex, but you don't have to do it alone. Contact Krus Tax Law & CPA to build a robust estate plan that secures your assets.