The high cost of nursing home care can quickly deplete your life savings but it doesn’t have to. With proper planning, you can ensure that the legacy you worked hard to create will be protected. A nursing home trust protects your assets from nursing home costs and beneficiaries while allowing you continued use of those assets.
Benefits of a Nursing Home Trust:
- Protects assets that could otherwise be lost under Medicaid regulations
- Allows Trustor continued use of property that has been transferred to the trust
- Starts Medicaid eligibility process
- Allows Trustor to name the trustee (the person who will manage the trust)
- Probate avoidance
- Value of the assets in the trust are not taxable upon death
- Creditor protection – protects against children’s potential debts, divorce, bankruptcy, etc.
- No loss of tax benefits
- One time cost
If I’m already in a nursing home is it too late to protect my assets?
No, it’s never too late. An experienced attorney will provide guidance on how to legally protect assets even if you are already in a nursing home or will be in the immediate future.
How do I get started?
Simply call us today at 920-996-0000.
*No guarantee of Medicaid eligibility