Medicaid Asset Protection Trust Costs
how much does a medicaid asset protection trust cost
Creating a Medicaid Asset Protection Trust (MAPT) typically costs between $2,500 and $7,000, with most attorneys charging $3,000-$5,000 for comprehensive trust establishment. Costs vary based on attorney experience, geographic location, and trust complexity.
Factors Influencing MAPT Costs
Several factors affect the price of establishing a Medicaid Asset Protection Trust:
- Attorney expertise in elder law
- Complexity of your asset portfolio
- State-specific Medicaid rules
- Need for additional estate planning documents
Experienced elder law attorneys in metropolitan areas typically charge higher fees. The complexity of your financial situation significantly impacts the cost, as more assets require more detailed trust provisions.
What's Included in MAPT Costs
A comprehensive MAPT package typically includes:
- Trust document drafting
- Deed preparation for real property transfers
- Consultation on asset transfer strategies
- Guidance on Medicaid look-back period rules
Additional costs may include filing fees for property transfers, notary services, and ongoing trust administration fees. Some attorneys offer flat-fee packages while others bill hourly at rates ranging from $200 to $500 per hour.
While the upfront cost may seem significant, a properly structured MAPT can protect hundreds of thousands of dollars from Medicaid spend-down requirements, making it a valuable investment for long-term care planning.