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Types of Trusts for Medicaid Planning

There are several types of trusts that can be utilized in Medicaid planning:

• Medicaid Asset Protection Trust (MAPT): This irrevocable trust allows you to transfer assets out of your estate, protecting them from Medicaid's asset limit tests.
• Special Needs Trusts: These trusts are designed for individuals with disabilities, ensuring they receive supplemental resources without affecting their Medicaid eligibility.
• Income-Only Trusts: Primarily used in states with income caps, these trusts allow individuals to qualify for Medicaid by directing excess income into a trust.

Each type of trust serves a specific purpose and comes with its own set of rules and benefits. Consulting with a Medicaid planning expert can help you determine which trust best suits your needs.