Can I Take Back the Assets in a Medi-Cal Trust?

Medi-Cal is a government program that is relevant to many seniors who were never poor, although it is a need-based program. This is because Medi-Cal pays for long-term care, and most seniors will need it at some point in time. Medicare does not pay for living assistance. Since Medi-Cal is a need-based program, there is an asset limit. For an individual who is applying for Medi-Cal coverage to pay for nursing home care, the limit on countable assets is $2000. A Medi-Cal trust can be utilized if you want to get assets out of your own name so that you can qualify for Medi-Cal to pay for long-term care as a senior citizen. A Medi-Cal trust is going to be an irrevocable trust. The designation is more or less self-explanatory: You cannot revoke or rescind an irrevocable trust. Once it is in place, you cannot change your mind, dissolve the trust, and take back direct personal possession of the assets. Though you do surrender control of the assets that you convey into a Medi-Cal trust, you co
http://www.norcalplanners.com/blog/elder-law/assets-medical-trust/

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