Do you have income, investments, or property? If so, did you know that you may be ineligible for Medicaid or other government benefits? Are you wondering whether a trust is right to protect your or your family’s assets?

At Stefans Law Group PC we have decades of experience in asset protection and Medicaid planning. We understand that it can be complicated to gain access to coveted government benefits and protect your hard-earned assets.

We use a variety of tailored, legal tools, such as trusts, to protect you and your family. There are different types of trusts, and each type serves a specific purpose.

  1. If you create a revocable trust, you maintain complete control over the trust and the trust property, and you can amend, revoke, or terminate the trust at any time. You are can be the creator, beneficiary, and trustee of this type of trust. These trusts are used primarily for asset management, avoiding probate, and tax planning.
  1. If you execute an irrevocable trust, you cannot amend or change it — the trust property may only be maintained and distributed by the trustee (as provided in the document). For example, you can receive income generated from trust property/principal, but you cannot gain access to the actual trust principal/property. This is a popular tool for Medicaid planning and is also commonly known as an asset protection trust.

When it comes to Medicaid planning and eligibility, we see that asset protection often takes on a special urgency and requires a different approach. Given the high cost of care, and the potentially devastating economic impact on the family, it is imperative to plan carefully and timely, and in a way that ensures none of the various, complicated Medicaid rules are violated. Violations can and often do result in ineligibility of benefits.

Our compassionate team is knowledgeable and experienced with the Medicaid rules and regulations and using legal tools for asset protection planning. Our personalized services can help you maximize your protection and benefits. We consider every aspect of your life – including financial, tax, and legal, to ensure you’re protected as much as possible.

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