Asset Protection Strategy – Nursing Home

One common asset protection strategy is the establishment of irrevocable trusts. These trusts effectively transfer ownership of assets, such as property or investments, to a trustee, thereby removing them from the individual’s direct control. By doing so, the assets are shielded from being counted as part of the individual’s resources when determining eligibility for Medicaid or other government assistance programs that may help cover nursing home costs.

To learn more about estate planning and elder law, visit Estate and Elder Planning by David Wingate at www.davidwingate.com. For an Initial Consultation, call (301) 663-9230. We can assist you with powers of attorneys, living wills, wills, trusts, Medicaid planning, and asset protection. With office locations in Frederick, Washington, and Montgomery Counties, Maryland, we are here to provide you with peace of mind.

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