Matus Law Group Reveals How Irrevocable Trusts Shield Homes from Medicaid

Matus Law Group Reveals How Irrevocable Trusts Shield Homes from Medicaid Nationwide - June 21, 2024 (USANews.com) - The Matus Law Group, a leading estate planning and elder law firm, has unveiled a key strategy for homeowners looking to learn if putting your home in a trust protects it from Medicaid. By placing a home in an irrevocable trust, individuals can shield this valuable asset from being counted towards Medicaid eligibility, ensuring that they can access long-term care coverage without having to sell their home.

Medicaid is a vital resource for many seniors who require long-term care services, but the program has strict asset limits that can disqualify individuals with significant assets, including their primary residence. However, by transferring ownership of their home to an irrevocable trust, homeowners can effectively remove the property from their personal assets, making it exempt from Medicaid calculations.

"Many homeowners are concerned about losing their primary residence in order to qualify for Medicaid coverage," said a spokesperson of the Matus Law Group. "By utilizing an irrevocable trust, individuals can protect their home while still meeting the requirements for long-term care assistance. This strategy provides peace of mind for families facing the challenges of aging and healthcare costs." The Matus Law Group specializes in helping clients navigate the complexities of estate planning, asset protection, and Medicaid eligibility. With their expertise in elder law, the firm is dedicated to empowering individuals to make informed decisions about their future and secure their assets for themselves and their loved ones.