Strategies for preserving assets include creation of an “income only trust" which allows an individual whose income exceeds the monthly ALTCS limit to still qualify for the program.

A trust for a disabled individual under age 65 can protect that person's assets while ensuring eligibility for ALTCS or SSI benefits. For over age 65 adults, transfers can be made to an irrevocable trust, which permits eligibility after a waiting period. 

The purchase of a single premium annuity can be an effective strategy for preserving assets while qualifying for ALTCS benefits, particularly for a married applicant

For more information on how we may help you, please click on the topics below:

• Estate Planning for All Ages: Wills, Trusts, Powers of Attorney
• Guardian-Conservator for All Ages
• Long Term Care
• Public Benefits
• VA Benefits
• Special Needs Planning and Trust
• Probate and Trusts
• Financial Exploitation
• Mental Heath Law
• Strategies