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What Is the Difference Between a Medicaid Trust and a Living Trust?
What Is the Difference Between a Medicaid Trust and a Living Trust? A standard revocable living trust usually preserves the settlor’s control and does not shelter assets for Medicaid eligibility. A Medicaid-planning trust is generally irrevocable and uses different access, control, tax, and timing rules. Long-term-care decisions mix health, housing, family authority, contracts, public benefits, and years of financial history. Small transactions can have large consequences when a Medicaid application later asks for records, and a rushed transfer can reduce options instead of protecting them. This guide explains the general Ohio framework in plain language and identifies the records and decisions that usually matter most. In this guide A clear…