Living Trusts- Legal Planning for Seniors

A senior’s income and assets must fall below certain limits to qualify for long-term care Medicaid. “Income cap” states allow applicants to use a Miller Trust to help them meet income eligibility guidelines.

A living trust is a popular financial tool that can be used for Medicaid planning, estate planning and tax planning purposes. However, a trust may not be the best the best approach, depending on a person’s long-term goals and unique financial situation.

There are many types of trusts that can help protect your assets from Medicaid. Here's a brief overview of the things you need to know when setting up a trust for Medicaid planning purposes.

It is crucial to engage in proper legal planning with family members while they are still of sound mind. An elder law attorney outlines competency criteria that must be met in order to obtain valid legal documents before a crisis strikes.