Medicaid Trust

Medicaid is a state-run insurance program that provides healthcare funds to seniors, as well as low-income individuals and people with disabilities. The program imposes certain rules on applicants, including how many assets a person can own. If a person is above the threshold, they will be turned down for benefits.

Because Medicaid is a crucial support system for many people in Chandler, AZ, Walk-In Willsprovides guidance on how to navigate the system effectively. We can walk you through the process for establishing a Medicaid trust to ensure you can access the necessary funds for long-term care when the time comes.

What Is a Medicaid Trust?

A type of irrevocable trust, Medicaid trusts help people remain below a certain income threshold when seeking benefits. Assets contained within these trusts will not be considered when applying for Medicaid, which ensures that a person can access essential assistance when it comes to healthcare and nursing home services.

How Do These Trusts Work?

Once assets have been transferred to the Medicaid trust, you are no longer able to control them. A trustee assumes management of these assets, even though they remain in your possession. For example, you can still live in a home that has been placed in a Medicaid trust. A Medicaid trust also allows you to name beneficiaries to receive your assets after you die.

What Are Some Possible Downsides of These Trusts?

The trustee you choose to manage your trust will become the owner of your assets, which prevents you from making decisions regarding them. Additionally, you will need to choose nursing homes and assisted living facilities that are approved by Medicaid, or you will not have access to healthcare funds. This highlights the importance of performing Medicaid planning with the assistance of an estate planning attorney.

Frequently Asked Questions

1. What is a Medicaid trust and how can Walk-In Wills help me with it?

A Medicaid trust is a type of irrevocable trust that can keep certain assets from being counted against you when you apply for Medicaid long-term care benefits. At Walk-In Wills in Chandler, our attorneys review your situation and guide you through creating this trust so you can pursue the healthcare support you need without losing everything you’ve worked for.

2. Once I put assets in a Medicaid trust, can I still live in my home?

Yes. After assets have been placed into a Medicaid trust, you no longer own them directly, but you can continue living in your home. The trustee you select manages the assets on your behalf — and Walk-In Wills can help you choose the right person and set up the trust terms.

3. What should I be aware of before deciding on a Medicaid trust?

When assets are moved into this type of trust, you give up direct control of them. Your trustee, not you, will make decisions about those assets — even though the trust can still benefit you and your heirs. An attorney from Walk-In Wills can explain how this arrangement works and whether it’s right for your goals.

4. Why is planning with a lawyer important for Medicaid trusts?

Medicaid trusts involve legal and technical requirements that must be handled carefully to protect eligibility for benefits and your long-term goals. Walk-In Wills attorneys help make sure the trust is set up correctly and fits into your broader estate plan, giving you confidence and reducing the risk of mistakes.

5. How much does a Medicaid trust cost at your Chandler office, and can I start today?

Flat fees start at $1,499 depending on asset complexity; same-day consults and starts are available by calling now.

6. What do I need to bring to schedule a Medicaid trust setup appointment now?

Bring asset lists, property deeds, and ID; we can start with a quick call to pre-qualify you for a Chandler slot today.

7. Can you prepare my Medicaid trust documents for signing within 24 hours?

Yes, for straightforward cases, we prepare and ready documents for signing within 24 hours after your initial Chandler meeting.

Contact Us for More Information on Long-Term Care Planning

With more than two decades of experience behind us, Walk-In Wills can help you approach the trust creation process carefully to ensure the best possible outcome. We’ll evaluate your situation to determine the best possible estate planning tool to support long-term care.