Millions of Americans require long-term care each year— and this care cost is big. How can you prevent your assets from being used to cover an extended stay in a nursing home or facility? Long-term care insurance is one option, but it can be expensive. This offers a more affordable alternative that will protect your assets.
What is a Medicaid Trust?
The Benefits of Medicaid Trusts
Protect Assets from Spend Down
Adhere to the Law
Is This Right Fit For Me and My Loved Ones?
Close to three-quarters of Americans over the age of 65 will require some form of long-term care assistance at some point. Even though long-term care isn’t on the horizon for you right now, it’s likely that you’ll need it eventually. Why not prepare for the inevitable? Forming this specific trust will simply dissociate you from your assets, enabling you to get the assistance you need as soon as you need it— without losing the assets you hope to pass on to loved ones some day.
While long-term care insurance might sound like a safer bet, it’s a bet that will cost you a lot of money in the long run. Choosing this kind of trust will give you the protection you want without the hefty price tag that’s routinely attached to long-term care insurance.
How Do You Plan For End of Life For a Loved One in Hospice or Palliative Care
Looking for solutions for your loved one? Our free guide can help you in planning and managing legal affairs.
How Does a Medicaid Trust Work?
Apply for Medicaid
Health Care and
Long-Term Care Facility Costs
Distribution of Assets
After your death, your beneficiaries will be awarded all of the assets in your Medicaid trust. They will not be required to reimburse Medicaid or the long-term care facility or at-home care professionals.
What If I Need More Than a Medicaid Trust?
Obtaining the services of an experienced elder care attorney is a step in the right direction. An elder law attorney will help you navigate the challenges related to issues that arise as you and your loved ones grow older. Port Legal specializes in Life Care Planning and Elder Care Planning, ensuring that our clients are properly cared for and their loved ones are protected in the event of their death. Port Legal is a member of Elder Counsel, an organization that focuses on providing quality elder law education. When you’re ready to discuss the many challenges that accompany aging, let’s talk.
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