Evan H. Farr explains the Living Trust Plus, an irrevocable trust that protects assets from lawsuits and nursing home costs exceeding $100,000 yearly, while letting you keep income and act as trustee. Unlike a standard revocable trust, it shields wealth from Medicaid and preserves your nest egg for heirs.
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Hi, I'm certified elder law attorney Evan H Farr, creator of the Living Trust Plus asset protection system used by dozens of attorneys across the United States. Unlike a revocable living trust, which only protects your assets from probate, the Living Trust Plus asset protection trust protects your assets from probate plus lawsuits plus nursing home expenses. With nursing home care in many cities, exceeding $100,000 a year, the Living Trust Plus is an essential tool for enlightened seniors wishing to protect their assets from the devastating and often catastrophic expenses of an extended nursing home stay. The Living Trust Plus is the only type of asset protection trust that allows you to retain an interest in the trust while also protecting your assets from being counted by state Medicaid agencies. And even though the Living Trust Plus is irrevocable, it can still be terminated so long as you and the trustee and all of your beneficiaries agree to it. And the creator of the Living Trust Plus retains the right to act as the trustee as well as to receive income from the trust and even to change the beneficiaries of the trust. If you're in your mid-60s to mid-80s, You're retired and you're worried about the potentially catastrophic cost of long-term care, and you want to protect your nest egg and have it actually benefit you when the time comes. You need to do something to shelter your money. For many people, the Living Trust Plus is the best way to accomplish that goal.
