The revocable living trust is a very useful and popular estate planning tool, recommended by tens of thousands of attorneys across the U.S. and used as the central estate planning document by millions of Americans. The primary benefit of the revocable living trust is that assets properly funded into such a trust are protected from the expenses and complexities of probate. However, what most Americans don't realize is that assets in a revocable living trust are NOT protected from lawsuits or from the catastrophic expenses associated with nursing home long-term care.
Certified Elder Law Attorney Evan H. Farr, one of the nation's leading estate planning, elder law, and asset protection attorneys, has developed a unique asset protection trust called the Living Trust Plus™ -- a trust that functions very similarly to a revocable living trust and maintains much of the flexibility of a revocable living trust, but is designed to protect your assets from the expenses and complexities of probate PLUS lawsuits PLUS nursing home expenses.
The Living Trust Plus™ Asset Protection Trust protects your assets from lawsuits, auto accidents, creditor attacks, medical expenses, and -- most importantly for the 99% of Americans who are not among the ultra-wealthy -- from the catastrophic expenses often incurred in connection with nursing home care. For most Americans, the Living Trust Plus™ is the preferable form of asset protection trust because, for purposes of Medicaid eligibility, this type of trust is the only type of self-settled asset protection trust that allows a settlor to retain an interest in the trust while also protecting the assets from being counted by state Medicaid agencies.
Even though the Living Trust Plus™ is irrevocable, you retain a high degree of control over your trust assets because:
Additionally, as is the case with all non-charitable irrevocable trusts, the Living Trust Plus™ can be modified, or even terminated, upon the agreement of all "interested parties" -- which are typically the trust creator, the trustee, and all trust beneficiaries.
Certified Elder Law Attorney and Medicaid Asset Protection expert, Evan H. Farr, CELA, has written three books that have reached #1 on the Amazon Bestseller List. These books feature detailed information about The Living Trust Plus™. For more information, please click on the book cover and read the press release or search for the book title on Amazon.com.
Evan Farr recently spoke about Living Trust Plus™ on two radio shows. Click on the links below to listen to the broadcasts.
Ryan A. Brown was born in Kansas City and raised in California. His first job in the computer industry began at the age of eleven, building and repairing personal computers for a local store in Santa Barbara, California. In 1993 he began a computer and Internet consulting firm and started the first Internet Service Provider (ISP) in Santa Barbara. Ryan went on to attend Johns Hopkins University in Baltimore, Maryland, where he received a BS in Computer Science with departmental and school honors and a BA in Spanish in 2000. Ryan is a member of Tau Beta Pi, Upsilon Pi Epsilon and the ACM, and won awards for undergraduate research and teaching. Continuing at Johns Hopkins, he received a Masters of Science and Engineering in Computer Science from Johns Hopkins in May of 2002. After completing his Computer Science studies, Ryan went on to earn a Juris Doctorate Magna Cum Laude in December of 2006 from George Mason University School of Law in Arlington, Virginia. Ryan is active in the Arlington County Bar Association and has volunteered for several pro-bono projects in Northern Virginia including Wills for Heroes which provides free wills and estate planning documents to first responders (police, sheriff, fire & paramedics). Ryan teaches an annual Continuing Legal Education class with Professor John Costello at George Mason University School of Law and occasionally guest lectures at the law school.