Medicaid Asset Protection Trusts—often called “MAPTs”—are popular in New York because they can help protect a family home and other assets from nursing home costs. But a MAPT isn’t always the right fit. Before you sign anything, it’s important to understand the trade-offs. This article explains the main downsides in plain English so you can […]

In New York, a nursing-home Medicaid applicant may transfer their primary residence to a sibling without a transfer penalty if (1) the sibling already has an equity (ownership) interest in the home and (2) the sibling lived in the home for at least one year immediately before the applicant became institutionalized (entered a nursing facility […]