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Guide to Asset Protection and Long Term Care

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Answers to ten common questions about planning for the cost of long term care:

1. Who pays for long term care?
2. Can I just give away my assets in order to qualify for Medicaid/ Mass Health?
3. What is the five year look back period?
4. Can I reduce assets by deeding my house to my children?
5. What is an asset protection trust?
6. Can I use any of the assets I put into trust?
7. Will transferring my house into trust trigger the “due on sale” provision in my mortgage?
8. What if I put my house into trust and then want to move and/or downsize?
9. Can I put other assets into the trust after I establish it?
10. When is the best time to start thinking about Medicaid/ Mass Health planning?