Medicaid Irrevocable Trust & 5-year Look-Back Period
One the best ways to protect your assets from the Medicaid spend down (i.e. avoid the 5-year look back rule) is to utilize the best irrevocable trust in America – the Ultra Trust®
Many older Americans are concerned that they may suffer some disability that requires them being accommodated in a nursing home. This is not an attractive prospect for at least two reasons. First, nursing home care usually involves some loss in personal autonomy. Second, the care is very costly, estimates ranging from $60,000 to over $140,000 per annum, depending mainly on the level of care and specific location of the nursing home. Nobody expects to need to go into a nursing home, but unfortunately, the statistics are that every one of us has a 50% chance of needing to go into a nursing home due to a health issue.