Can a trust be a valuable Medicaid planning tool?
In the case of a married couple with liquid assets less than $160,000 and a house, a revocable living trust can dramatically increase the amount that the community spouse can retain as the nursing home spouse qualifies for ALTCS. A qualified Medicaid planning attorney has to explain how this favorable outcome is obtained. An irrevocable trust which is designed to return all its income to the people making the trust can result in assets passing free of an ALTCS estate recovery claim. Such a trust can also preserve some important tax benefits for the transferees of the property.
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