In Missouri, the cost of nursing home care can exceed $7,500 per month—and those expenses add up quickly. While Medicaid can help cover long-term care costs, many individuals are disqualified due to owning too many assets. Worse, Medicaid may attempt to recover those costs from your estate after you pass away.
A Medicaid Asset Protection Trust (MAPT) is a powerful legal tool that allows you to shield your assets from Medicaid spend-down requirements while preserving them for your loved ones.
At Hannam Law we help Missouri residents set up MAPTs as part of a proactive long-term care strategy. Here’s how it works:
- Assets placed in a MAPT are no longer counted for Medicaid eligibility, provided the trust is created and funded at least five years before applying for benefits (due to the “five-year lookback” rule).
- If your home is placed in the trust, you retain the right to live in your home.
- Unlike giving assets directly to family members, a MAPT provides protection from their creditors, divorces, or financial mistakes.
- Upon your passing, assets in the trust can be distributed to your beneficiaries without going through probate or being subject to Medicaid estate recovery.
Creating a MAPT now can give you peace of mind knowing your home, savings, and legacy are secure—no matter what the future brings.
The preceding article is for information purposes only and is not intended to be legal advice. Contact Hannam Law today to schedule a consultation and take the first step toward protecting your assets and your future.