Medicaid Asset Protection Trust Attorney In Raleigh
Ensure that the government does not take your heirs' 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 one of our attorneys, 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 North Carolina natives, our firm 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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"Very smooth process."
I had my Trust/Will prepared by Kevin Peach. Very smooth process. Kevin was a pleasure to work with, very professional and informative, and completed the documents on a timely basis. I highly recommend NC Wills & Trusts to anyone who needs a Living Trust and Will prepared.- S.P. -
"Kevin was excellent!"
Kevin was excellent! The process was seamless and easy to understand. I'm thankful for his service.- C.F. -
"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. -
"He was very polite and knowledgeable."
Kevin was really helpful. He finished our required documents quickly. He answered all of our questions. His fees are quite affordable. He was very polite and knowledgeable.- S.S. -
"It is a pleasure working with someone that enjoys what they do"
Estate process was straightforward. Questions were handled quickly and confidently. It is a pleasure working with someone that enjoys what they do. This has been on our to-do list for quite a while and now it’s done, and that’s a great feeling.- M.M. -
"Very helpful and delivered"
These folks do great work Mr. Peach was on time very helpful and delivered
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"I never imagined setting up a trust could be enjoyable"
I never imagined setting up a trust could be enjoyable. I’d been stressed about all the details that go into establishing one but when it came time to go the office for the signing, everything was clear and I actually spent time laughing with family- S.P. -
"Highly Recommend"
Kevin D. Peach, has helped my family with our will and trust. He has made the process clear and easy to understand, and he has finished all necessary documents in a timely manner. I highly recommend him for your needs.- Silvia K.