This CLE course will provide the professional with a comprehensive overview of methodology and techniques for preserving their client’s assets while planning for the possibility of incapacity and future institutional or home care services through Medicaid.

The presentation will provide an overview of the Medicaid Asset Protection Trust wherein the homestead and liquid assets can be transferred and the Medicaid applicant (settlor) would retain the ability to receive government benefits. He or she can remain living in the home, can receive income from the trust, protect these assets from beneficiaries’ creditors, and preserve a step-up basis upon death.

First-party and third-party Special Needs Trusts will also be discussed as well as the tax implications of trust-based Medicaid planning. Finally, the 2024 Medicaid guidelines for income and asset eligibility for both nursing home and home-care services will be defined and clarified.