Medicaid
Navigate Medicaid's impact on estate planning and learn how strategic planning can protect assets while maintaining eligibility.
How does Medicaid affect estate planning and asset protection?
Medicaid planning is crucial for those looking to qualify for benefits while preserving assets for heirs. Medicaid has strict asset and income limits, which can affect eligibility. Through strategic use of tools like trusts, individuals may protect their assets while still qualifying for Medicaid. These trusts are often irrevocable, which means the assets placed within are no longer owned by the individual, thus not counted against Medicaid eligibility limits. This planning often involves complex legal structures, underscoring the importance of understanding the implications on your estate planning goals.
