When you put your house into a trust, you cease to be the legal owner. Additionally, an irrevocable trust may allow you to stay in your home. Medicaid does not count the principal of this trust, provided that the trustee can't use it to pay the person who established the trust or that person's spouse. By transferring your home to an asset protection trust, you are no longer the owner. A trust strategy eliminates the entire problem. In effect, you’ll be leaving your home to the government to repay Medicaid, instead of to your children or other family members. Can medicaid take your home if it is in a trust? The bad news is that you cannot take back assets that you convey into a Medicaid trust if you never need long-term care. States have turned to managed care as a strategy to control health care expenditures and improve the quality of care in the Medicaid program, with the role of managed care expected to increase with the 2014 Medicaid expansion under the Affordable Care Act (ACA). Can i take back the assets in my medicaid trust?Īssets in the trust would not be counted by the Medicaid program, because a Medicaid trust is an irrevocable trust. Choose to create either an after-death "testamentary" trust or a living "inter woos" trust. To set up a trust account, start by establishing the nature of the trust that you are creating.
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