A Living Trust is Good.  The Living Trust Plus™ is Better

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 Medicaid 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.  A version of this Asset Protection Trust can also be used by wartime Veterans to obtain the Veterans Aid and Attendance benefit.

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 the 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:

  • you can be the trustee if desired
  • you have  the right to receive all of the trust income
  • you have the right to live in and use your real estate
  • you have the right to change trustees
  • you have the right to change beneficiaries