No. That is a very common misconception. There are many reasons to have a living (revocable trusts) trust. However, asset protection planning and nursing home protection are not reasons to have a revocable trust. Under federal Medicaid law and under most states laws, your revocable trust is considered your asset and must be spent before you qualify for long-term care in a nursing home. Likewise, because your trust is your asset it can also be reached by your creditors if you get sued.
The solution? Get a free elder law consultation from a lawyer that practices regularly in this area and develop the strategies that are customized to you. These techniques include but are not limited to irrevocable trusts, care agreements, and more.
Unruh, Turner, Burke and Frees has lawyers practicing in the many areas related to elder law. We have been representing elderly clients at all levels of influence and assets for over 34 years. Call 610-933-8069 to get exactly the right representation for your situation. Our policy is to find you the best representation for your particular facts and to refer you to another lawyer or firm if we cannot offer you representation matched to your needs.
