Medicaid Asset Protection Trust Attorney In Raleigh
Ensure that the government does not take your heir's inheritance
A Medicaid Asset Protection Trust (MAPT) is an irrevocable trust designed to shield assets while qualifying for Medicaid long-term care benefits. By transferring assets into the trust, you remove them from your countable assets, potentially meeting Medicaid's strict eligibility limits. A designated trustee manages the trust, often allowing you to receive income generated by the assets, but not the principal. Crucially, due to Medicaid's five-year look-back period, early planning is essential. This strategy helps preserve your legacy by ensuring assets pass to chosen beneficiaries, rather than being depleted by care costs.
Legal Help With Local Roots
See What Sets NC Wills & Trusts Apart
We make affordable, dependable estate planning possible for families throughout North Carolina, helping you plan for the future with confidence. Explore some of the ways our personalized service can help you.
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Accessible Pricing
Estate planning should be accessible to everyone. Our flat fees are often one-third to one-half the cost of traditional firms—without sacrificing quality or care.
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Direct Attorney Access
Every client works directly with attorney Kevin Peach, ensuring personalized guidance and expert insight from start to finish—never passed off to support staff.
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Transparent Service
No hidden fees, no pressure tactics. We’re committed to making the process clear, simple, and easy to understand—so you can plan confidently.
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Rooted in Community
As a Raleigh native, Kevin Peach brings a local perspective, empowering clients through free webinars and educational resources.
Protecting Your Legacy: Medicaid Asset Protection Trusts in
Medicaid Asset Protection Trust (MAPT)
At NC Wills and Trusts, we understand the concerns families face regarding long-term care costs and asset preservation. A Medicaid Asset Protection Trust (MAPT), also known as an Irrevocable Income-Only Trust, is a powerful estate planning tool designed to shield your hard-earned assets while qualifying for crucial Medicaid long-term care benefits.
Understanding Medicaid Asset Protection Trusts (MAPTs)
A MAPT is an irrevocable trust specifically created to protect your assets from being counted towards Medicaid's strict eligibility limits. By transferring assets into the trust, you effectively remove them from your personal ownership, making them inaccessible to Medicaid's asset calculations.
How MAPTs Work:
- Asset Transfer: You transfer assets into the trust, relinquishing direct control over them.
- Trustee Management: A designated trustee manages the trust according to its terms. Often, the trust allows you to receive the income generated by the assets, but not the principal itself.
- Five-Year Look-Back Period: Medicaid has a crucial five-year "look-back" period. Any assets transferred into the trust within this period may be subject to penalties, significantly impacting your eligibility. Therefore, early Medicaid planning is essential.
Benefits of a Medicaid Asset Protection Trust:
- Asset Protection: Safeguards your assets from being depleted by long-term care costs.
- Medicaid Eligibility: Potentially secures your eligibility for Medicaid long-term care benefits.
- Income Stream: May provide a potential income stream from the trust's assets.
- Probate Avoidance: Helps avoid the complexities and costs of probate.
- Peace of Mind: Offers peace of mind by establishing a comprehensive long-term care plan.
- Protecting the Family Home: Often the home is the most valuable asset a person owns. A MAPT, when carefully drafted, can protect the home from being lost to pay for long term care.
How NC Wills & Trusts Can Help You
Our experienced Trust Attorneys at NC Wills and Trusts can guide you through the complexities of Medicaid planning and create a MAPT tailored to your specific needs. We will:
- Explain the intricacies of MAPTs and their implications.
- Ensure your trust complies with all state-specific Medicaid rules and regulations.
- Advise you on the implications of irrevocability and the trustee's role.
- Help you navigate the five-year look-back period and maximize your eligibility.
- Provide comprehensive estate planning services, including wills and trusts, will preparation, and trust creation.
- Individuals concerned about the high costs of long-term care.
- Those seeking to protect their assets for their beneficiaries.
- Individuals planning for potential future Medicaid eligibility.
- Individuals concerned about the high costs of long-term care.
- Those seeking to protect their assets for their beneficiaries.
- Individuals planning for potential future Medicaid eligibility.
Call (919) 759-6353 today or contact us online to schedule a free consultation.
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"Easy to Work With"
Kevin Peach was so helpful and easy to work with. He was always available to answer questions and responded quickly to calls and emails. His services were professional and cost-effective. Thanks Kevin.
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"He listens"
Very pleased with the care and service and appreciate the reasonable price. It’s so hard to invest money towards things that aren’t “immediate” needs and Kevin’s services are affordable enough to make this important investment without sacrificing quality. He listens and advises without arrogance and his thoughtful demeanor is so appreciated in a world where so many are just self consumed. I’m so thankful I found Kevin and highly recommend!- N.L. -
"Kevin was amazing to work with!"
Kevin was amazing to work with, very knowledgeable, and very timely. His prices and processes are clear and transparent. He answered all of my questions. If you want timely service without the runaround, NC Wills and Trusts is for you!- Q.S. -
"Kevin is knowledgeable, approachable, and made the process stress-free"
I had an excellent experience working with Kevin Peach to set up my trust. Kevin is knowledgeable, approachable, and made the process stress-free. He was very quick to respond to my emails and answer any questions I had about the process. It was very easy to schedule an appointment and the turn around time to complete the trust paperwork was quick and efficient .- L.S. -
"Very helpful and delivered"
These folks do great work Mr. Peach was on time very helpful and delivered
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"Helpful and Knowledgeable"
I would definitely recommend him based on my experience with our situation!- Barbara K. -
"Very polite and professional"
Mr. Peach is very polite and professional. My mother’s passing put my father in a position to have to redo his will and estate. I felt my Dad would be more comfortable at home with this process and Mr. Peach was happy to do so. Great experience.- J.M. -
"I highly recommend NC Wills and Trusts"
Kevin did a great job with our estate planning documents. We had lots of questions which he answered promptly and thoroughly. We were anxious to get our affairs in order and he was very responsive and reasonably priced. I highly recommend NC Wills and Trusts for your estate planning needs.- P.B.