Legal Question in Wills and Trusts in New York
medicaid protection
If we form a revocable living trust, are we eligible for Medicaid coverage (after 5 year lookback)if we have to enter a nursing home?
2 Answers from Attorneys
Re: medicaid protection
No. You must create a properly structured irrevocable trust.
Please feel free to contact me iy you need assistance.
Best of luck.
Re: medicaid protection
I agree with John that you need an "irrevocable", not a revocable trust, to meet the Medicaid criteria. I caution you that this requires a specialized document, as more than Medicaid qualification may be involved, as well as assuring your assets may be available should the need arise. You should contact an attorney who is familiar with these matters, like myself, to see that a proper document is prepared and all bases covered. This is a response to an Internet question and the reply is not intended to be legal advice or to create an attorney-client relationship.