“How Can a Trust Help You Avoid Nursing Home Costs?,” by Chris Berry, Kiplinger’s

Quote:

“How does it work for long-term care protection? Once you move your assets into an irrevocable trust, you’re effectively depleting your estate of disposable assets, a move that eventually will allow you to use Medicaid assistance to help pay for your basic long-term care costs. But you won’t be without additional resources: The trust can still provide you with some income to improve your quality of life. Or for a married couple, if one spouse needs long-term care, the other spouse won’t become completely impoverished while paying for that care.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Shame on Kiplinger’s for letting this Medicaid planning attorney promote his “tool” to trap affluent clients on public welfare. He and Kiplinger’s should be called out for exacerbating the tragedy currently unfolding in America’s nursing homes due to the Covid-19 pandemic