Do you want to prevent your assets from being used for long term nursing home or long term in home medical care? Do you want to prevent the State from taking your home or placing a lien on it after your death so that your children can inherit your home? If so, planning ahead is the best option.
One option is to purchase long term-care insurance, if you can afford it. Many policies cost tens of thousands of dollars per year. Another, much more affordable option is the Medicaid Asset Protection Trust or MAPT. A MAPT is a less expensive option and can be a highly effective asset preservation tool.
Who Should Have a Medicaid Asset Protection Trust?
As a Tennessee elder law attorney, Meredith Silva may recommend a Medicaid Asset Protection Trust for you or your loved one if you:
You do not need to put everything you own into a Medicaid Asset Protection Trust. You can keep as much of your assets as you desire outside the Trust, in order to maintain your financial independence. Any assets that you wish to keep outside the irrevocable Trust can be placed in a separate living trust (a type of revocable trust) in order to avoid probate.
A Medicaid Asset Protection Trust is highly complex, and should be discussed with, designed and drafted by an experienced Tennessee elder law attorney. Contact Meredith Silva at 615-258-5541 or email@example.com to discuss your Medicaid Planning options and protecting your assets in a Medicaid Asset Protection Trust.
This website is for informational purposes only. Using this site or communicating with Silva Law Group through this site does not form an attorney/client relationship. This site is legal advertising.
Copyright © 2018 LawLawyerTemplate - All Rights Reserved.