Using the MIDGT To Take Advantage of Long Term Care Expense Deductions
One of the Irrevocable Trusts we prepare for clients who enter into Nursing Home Asset Protection planning is referred to as the Medicaid Intentionally Defective Grantor Trust (MIDGT). One of the tax features of the MIDGT is that the person, usually an elderly parent, who transfers assets to the irrevocable trust will continue to be …