“Transfers of assets into trust are typically considered gifts, therefore, this type of planning is usually done well in advance of someone needing Medicaid services.”
Elder Law attorney Donald A. Dennison, Esq. from Mandelbaum Barrett PC shared insights in a recent interview with NJMoneyHelp.com. Delving into the question of whether a trust safeguards assets from nursing home expenses, the article explores topics such as Medicaid planning and the crucial distinctions between revocable trusts and irrevocable asset protection trusts.