A Revocable Living Trust Protect Your Assets
Does A Revocable Living Trust Protect Your Assets From Michigan Medicaid Nursing Home Spend-Down In a revocable living trust, there are various aspects and conditions related to its continuity and eligibility of assets to be used. One of the important one is medicaid nursing home spend-down. It is the procedure of reducing the countable assets and income to get Medicaid and cover nursing home care. As per the Medicaid rules the assets held in a revocable trust will count as an asset and should be used up on care before Medicaid eligibility begins. If a person has revocable living trust in Michigan that is entitled to assets, then an immediate review and evaluation shall be done to know whether or not the asset will affect Medicaid eligibility. Many people question whether revocable living trust protects the assets from Michigan Medicaid nursing home spend-down. The fact is a revocable living trust does not protect assets from Michigan Medicaid nursing home spend-down. A ...