Can a Trust Provide Medicaid Asset Protection?

Estate planning is a diverse endeavor. What is ideal for one person may not suit the next, and this is something that you should understand when you are planning your estate. You have many different options, and the ideal course of action will vary on a case-by-case basis. With the above in mind, there are a number of different types of trusts that can be utilized. The right choice will depend upon your objectives. The basic distinction between trusts is the matter of revocation rights. Revocable living trusts are very popular, because they facilitate efficient asset transfers, but you do not lose control of the assets while you are living. You can initially act as the trustee and the beneficiary, so you control the actions of the trust while you are alive and well. When you create the trust, you create a trust agreement. In this agreement you name a successor trustee to administer the trust after you die, and you also name successor beneficiaries. After your passing, the successor tr


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