Expert Advice in Plain Language for Anyone Worried About the Costs of Living and Dying
Have you ever considered the advantages of creating a living trust? Avoiding probate with a living trust is a well-known strategy, but bestselling author Evan H. Farr explains the need to consider both probate and long-term care expenses when creating a living trust. Revocable living trusts are very popular estate-planning tools recommended by tens of thousands of attorneys across the US. However, most Americans don't realize that these trusts do not protect assets from lawsuits or the catastrophic expenses associated with nursing homes and long-term care.
In plain language, Farr delves into the many details you should address when creating a living trust in order to protect against lawsuits and longterm care expenses. He also outlines his Living Trust Plus asset protection trust, which is the only type of self-created asset protection trust that allows you to retain control of your assets while avoiding probate and also protecting your assets from lawsuits and Medicaid. Farr also covers:
Joint ownership problems
Special needs planning
How to nursing home expenses
Why Medicaid planning is ethical
The ten most common Medicaid myths
Finding the right lawyer
All-new sections in this edition include:
How to protect your assets if you own rental property (using LLCs and asset protection trusts)
Asset protection for high-net-worth individuals and couples
Up-to-date information on how veterans can qualify for Aid and Attendance benefits
Protecting Your Assets from Probate and Long-Term Care
will help to ensure your family does not have to reap the consequences (and expenses) of improperly creating a living trust.
