🔑 NY Clause: Residence Provisions in Medicaid Asset Protection Trust

When creating a Medicaid Asset Protection Trust (MAPT) in New York, a critical consideration is how the trust handles residential real property when the grantor retains the right to occupy the residence.

The residence provisions in a MAPT ensure that grantors can continue living in their home without paying rent, while also maintaining responsibility for expenses such as taxes, insurance, and upkeep. Additionally, these provisions protect the homestead exemption, helping to preserve certain rights and benefits under New York law.

Below is a sample residence clause.