This CLE course offers a detailed examination of strategies for safeguarding a client's assets while preparing for the potential need for long-term care, whether in a facility or at home, through Medicaid.

Participants will gain insights into the Medicaid Asset Protection Trust, a legal structure allowing clients to transfer property and financial assets while still qualifying for government benefits. The settlor (the person who establishes the trust) can continue to live in their home, receive income generated by the trust, shield these assets from beneficiaries’ creditors, and ensure a step-up in basis upon their passing.

The session will also cover both first-party and third-party Special Needs Trusts, highlighting their specific functions and roles in Medicaid planning. Additionally, you'll learn about the tax consequences of using trust-based methods in Medicaid planning. The course will conclude with a comprehensive review of the 2024 Medicaid eligibility guidelines, detailing income and asset limits for those seeking both nursing home and in-home care services.