Healthcare Costs

How can a trust protect my assets from nursing home costs?

Certain irrevocable trusts can help protect assets from nursing home expenses by removing them from your ownership before you need long-term care. However, Medicaid has a five-year lookback period, meaning any transfers must occur well in advance of needing care. The trust must be properly structured and cannot allow you to retain control over the assets. Many families combine trust planning with long-term care insurance as part of a comprehensive approach to healthcare cost protection.