Trusts & Estates

TThe Medicaid Asset Protection Trust (MAPT) is the cornerstone of an elder law practice. It is an irrevocable trust that protects a grantor’s assets from being counted for eligibility for long-term care Medicaid benefits, including costs either required to qualify for Medicaid eligibility or recovered by Medicaid through estate recovery.

A MAPT can be drafted differently for each of your clients to take advantage of tax benefits and ensure that all income from trust assets is taxed to the grantor. It can also be drafted to protect the step up in basis at the grantor’s death of assets that are placed inside the trust. In addition, a MAPT may be designed to protect residuary beneficiaries’ shares. It offers comprehensive estate planning geared toward our senior population and their loved ones.

Download WealthCounsel’s sample Medicaid Asset Protection Trust drafting preview today. The drafting preview provides examples from the first page of each article of an irrevocable trust document created in Elder Docx, so you can see for yourself how easy it is to use the MAPT template to create customizable, state-specific documents for your clients.

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Elder Docx has an expansive catalog of documents for elder law, Veterans pension planning, and special needs planning. Contact us today to learn more and see Elder Docx in action.