🔑 NY Form: Annotated Medicaid Asset Protection Trust

A Medicaid Asset Protection Trust (MAPT) is a crucial estate planning tool for safeguarding assets while maintaining Medicaid eligibility for long-term care. This trust allows individuals to protect their home and savings from nursing home costs while preserving their access to benefits.

Below is an extensively annotated draft form, where I provide questions, comments, critiques, and alternative drafting possibilities. These annotations aim to clarify key provisions, highlight potential pitfalls, and offer practical considerations for estate planning attorneys and individuals navigating Medicaid planning.

What makes this draft particularly interesting is that the grantors did not retain the income, which is unusual for a MAPT. Additionally, it grants the Trust Protector extensive powers, raising questions about control and flexibility.

Members can access the full annotated trust below.