A Medicaid Asset Protection Trust protects your assets from being counted for Medi-Cal eligibility. In other words, you can protect your assets while still qualifying for Medi-Cal benefits for long-term care. Asset rules for Medi-Cal are strict, with a five-year look-back period in place. Therefore, you will not be penalized when the trust is created and assets are transferred five years before applying for Medi-Cal long-term care benefits.