What is a Medicaid trust?

A Medicaid Trust is a legal document that allows people with disabilities to maintain their eligibility for Medicaid benefits while also protecting their assets. People with disabilities often have difficulty saving and managing their money, and the Medicaid Trust allows them to plan ahead and provide for future needs. In Washington, Medicaid Trusts are created to hold assets for individuals with disabilities and allow them to qualify for Medicaid coverage. In setting up a trust, it is important to seek the advice of an attorney who has experience with disability planning law in Washington. The trust must be drafted correctly to protect assets from being counted as income or assets when determining Medicaid eligibility. There are several different types of Medicaid Trusts that can be established in Washington, including Medicaid Payback Trusts and Self-Settled Special Needs Trusts. Each option has its own requirements, so it is important to review each one to determine which is most suitable for you. A Medicaid Trust can be a very important part of a comprehensive plan for protecting assets for people with disabilities and ensuring eligibility for future Medicaid benefits.

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