Guide to Asset Protection and Long Term Care
Answers to ten common questions about planning for the cost of long term care:
- Who pays for long term care?
- Can I just give away my assets in order to qualify for Medicaid/ Mass Health?
- What is the five year look back period?
- Can I reduce assets by deeding my house to my children?
- What is an asset protection trust?
- Can I use any of the assets I put into trust?
- Will transferring my house into trust trigger the “due on sale” provision in my mortgage?
- What if I put my house into trust and then want to move and/or downsize?
- Can I put other assets into the trust after I establish it?
- When is the best time to start thinking about Medicaid/ Mass Health planning?
