How Does Putting House In Trust Affect Medicaid?


How will putting my house in a trust affect Medicaid if in the future one or both of my husband and I are ill? Doesn't it put the house out of harm's way?


Transferring your house to an irrevocable trust in which you retain no rights to distributions of the principal of the trust, and waiting at least five years before applying for Medicaid, will indeed protect the house and avoid it counting against you as a gift. The exact terms of such a trust depend on your state's laws and Medicaid regulations, so you will need to work with an experienced elder law attorney to accomplish this for you. If you have five years' time before needing to apply for Medicaid, this could be a good strategy to protect the house. You can read more in my book at Medicaid Secrets.

--Gabriel Heiser

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--by Beth Heikkinen
Marquette, Michigan
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