Yes and no. An irrevocable trust will help you avoid giving away or spending down the value of your assets in order to qualify for Medicaid. Because the assets you place in the irrevocable trust technically aren’t yours anymore, you’ll need to name a primary beneficiary as well as establish a reliable power of attorney for future needs that arise. Working with a Ft. Worth Texas will and trust attorney will allow you to properly structure the trust so it can be avoided in asset recovery. However, the trust is still subject to the five-year look-back period.
A revocable trust does NOT offer any sort of Medicaid asset protection. This is because the government still considers the assets in this type of trust to be yours since you control it.