What is a Medicaid trust?

A Medicaid trust is a legal arrangement set up to help people protect their assets in order to qualify for Medicaid in Arkansas. This type of trust allows individuals to set aside resources, such as money or a home, so that they can be exempted from the total countable resources that must be spent down in order to qualify for Medicaid. With a Medicaid trust, the person creating the trust (known as the grantor) is able to direct how their resources will be used, and the trust can even provide for the care of the grantor’s spouse or other family members. When the Medicaid trust is set up, it is typically done so in cooperation with an Elder Law attorney in order to ensure that the trust meets Arkansas state laws. The Medicaid trust is a great tool for those planning for future care and who wish to protect their assets for their heirs.

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