For individuals and families concerned about the soaring costs of long-term care, legal planning with a Medicaid Asset Protection Trust (“MAPT”) can present an opportunity to become eligible for home care or nursing home benefits through the federal program Medicaid.
Unless you have the funds to pay out-of-pocket for long-term care at $180,000 per year or more, or have previously purchased long-term care insurance, the MAPT presents an opportunity to qualify for services without spending down life savings to impoverishment. The attorneys at Pierro, Connor & Strauss can customize this Trust both for individuals facing a chronic illness who need long-term care immediately and for people who are currently healthy but want to preserve assets in the event that Medicaid is needed in the future.
