Typically called a “Special Needs Trust” or “Supplemental Needs Trust,” such trusts are customarily determined with income from someone other than a particular who is requesting for Medicaid. If a particular him- or herself wishes to send their possess resources to such a trust, a resources will be countable for Medicaid eligibility functions unless (i) a particular is underneath age 65 and (ii) a trust contains a payback sustenance to repay a Medicaid module following a genocide of a particular and (iii) a trust is set adult by a individuals’ parent, grandparent, authorised guardian, or court.
If a trust does not accommodate a above requirements, a send of income into a trust will be deemed a present and theme to a five-year lookback period, IF there is no entrance by a particular to a principal of a trust. On a other hand, if there are ANY resources underneath that a principal of a trust can be distributed behind to a chairman who set adult a trust, afterwards 100% of a trust will be deemed an accessible item for Medicaid purposes, and a send into a trust will NOT be a gift.
Article source: http://medicaidsecretsforum.com/showthread.php?tid=873