What are the Medicaid planning opportunities for the wealthy? Should we put a Medicaid asset protection trust into play? What I always tell people when it comes to whether an asset protection trust for Medicaid makes sense is it just depends on the person's goals. I've helped clients who have less than a million dollars do an asset protection trust to protect what they have against long-term care costs.

I have people that have multiple millions of dollars that have done this kind of trust. I try not to anchor to like what value of an estate this makes sense. What I go to is there's the three different ways to pay for long-term care. Now we need to talk about if you're okay with self-funding and private pay, then this becomes a relatively non-issue, right?

But if people are like, well, I'm interested, tell me more what options are out there. Really what ends up happening with an asset protection trust for Medicaid, it's an irrevocable, not revocable, irrevocable trust that assets go into. Every state has what's called a look-back period. Most states are five years if that thing is set up, five years in advance.

And assets are in it five years in advance of any kind of Medicaid need. Then if you go into a long-term care community, then Medicaid is footing the bill, not you, private paying. So I know that's a little bit of a long-winded answer in terms of like what kind of makes sense from like an estate value standpoint.

But to me, it doesn't matter the value of the estate. It matters whether you care about self-funding and private paying or not. Because I have clients that fall on both sides. And then I'd be remiss if I didn't touch on there are some people that feel that this kind of strategy of using an asset protection trust to protect assets against Medicaid long-term care is, quote, unethical or, quote, immoral.

What I always tell people is they are perfectly legal, allowable options on the table. And so that's why I really hesitate giving like a number because I have clients that fall all over the board. And from there, it just really depends on whether they care about possibly in the future if long-term care becomes an issue, whether you spend a lot of your money on long-term care.

That's the big, big thing is that. Thank you.