Elder Law

The high cost of long-term care has made planning a critically important issue for most seniors and their families.  Unfortunately, most seniors that will likely require some form of long-term care are unprepared for the significant financial burdens it places on their family.  This could involve using irrevocable Medicaid trusts and waiting out a so-called five-year look-back period, suggesting long-term care insurance, or using the community spouse resource allowance and an annuity for so-called excess resources.

Medicaid Trusts

A Medicaid trust is a trust established for the purpose of protecting the trust principal from the cost of long-term care.  These trusts, if properly drafted, offer the additional advantage of protecting assets from other risks, such as lawsuits.  The trust assets also avoid probate, thus reducing expenses to the estate.  Massachusetts irrevocable trusts can even be drafted to protect the children and grandchildren by shielding their future inheritance from lawsuits, bankruptcy, divorce and early death.  There is a five-year look-back so that assets transferred into the trust are not fully protected until five years after the assets are transferred.  The sooner you act to set up an irrevocable Medicaid trust, the better.


Annuities are often used in connection with Medicaid planning to protect assets in the event earlier planning was not undertaken.  We can help you explore using annuities as part of a comprehensive life plan. Contact us today to learn more.