Irrevocable Annuity Trust
Obtaining Medicaid benefits to help pay for long-term care does not have to mean living in poverty or denying your heirs the benefit of your lifetime of hard work. An experienced Medicaid planning lawyer at Willis Law can help you explore all of your options for protecting your assets, including the use of an irrevocable Medicaid annuity trust.
At Willis Law, we have extensive knowledge of trusts and how to use them to maximize the financial positions of our clients while ensuring they can qualify for Medicaid. We can create a comprehensive plan based on your unique situation and give you the peace of mind that comes with knowing your spouse and children will not suffer as a result of your long-term care needs.
Is an irrevocable Medicaid annuity trust right for you and your family? Call us toll free at (888) 461-7744 to arrange a free initial consultation with our Kalamazoo Medicaid trust attorneys.
Why Choose An Irrevocable Medicaid Annuity Trust?
The advantage of any irrevocable trust in Medicaid planning is that, unlike a revocable trust, the assets are not considered by Medicaid as countable in determining eligibility for assistance. Irrevocable trusts, including Medicaid annuity trusts, can be established for the benefit of the Medicaid applicant using his or her own assets or established for a child or other family member who is a Medicaid recipient. The assets remaining in the trust will be paid to the individual's heirs upon his or her death.
Once assets have been counted, any further disqualifying excess assets are able to be placed into the irrevocable Medicaid annuity trust to ensure benefits continue.
To learn more about irrevocable Medicaid annuity trusts or other means of Medicaid planning, we encourage you to contact our firm for a free initial consultation. For your convenience, we have office locations in Kalamazoo, Grand Rapids and Paw Paw.