Medicaid trusts are specialized legal tools designed to protect your assets from the high costs of long-term healthcare, such as nursing home care, while preserving your eligibility for Medicaid benefits. These trusts must be carefully structured to comply with state and federal regulations; assets transferred into a Medicaid trust are typically considered irrevocable, meaning they cannot be taken back once in the trust. This setup helps ensure that the trust assets do not count against Medicaid asset limits. It is crucial to establish these trusts well before healthcare services are needed, as Medicaid has a look-back period that can affect eligibility.
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