Tag: irrevocable trust Illinois
Revocable vs. Irrevocable Trusts for Asset Protection
Posted on September 27, 2026
Different types of trusts give families different types of protection. A revocable living trust and an irrevocable trust may both hold a family’s property, but they aren’t one-size-fits-all. Some make it easier to transfer property after death, while others give families more control over when children or grandchildren receive an inheritance. Still others protect assets from creditors, lawsuits, or other financial risks. If asset protection is part of your estate planning goals in 2026, understanding that difference is essential. A Naperville, IL estate planning attorney can help you understand whether […]
Using Medicaid Trusts for Asset Protection and Long-Term Care Planning
Posted on February 13, 2026
The cost of long-term care continues to rise in 2026, and many Illinois families face difficult financial decisions when a loved one needs nursing home care or home health services. One powerful tool for protecting your assets while qualifying for Medicaid benefits is a Medicaid Asset Protection Trust, also called a MAPT. In 2026, the asset limit for Medicaid long-term care is $17,500 for individuals, according to the Illinois Department of Human Services. This means that if you have more than $17,500 in countable assets, you must spend down those […]
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