No. General rule of law holds that whatever you can access, others may access as well. Assets in a revocable living trust are open and available to you; therefore, they are also open and available to Medicaid. What would make your assets safe is an irrevocable living trust, such as the MPS™ Trademarked Medicaid Trusts we offer. These allow you to retain access to and control of your assets, while protecting them at the same time.

The trustee of a revocable living trust administers only those assets that were transferred to the trustee. If you own something outside your trust when you die, the only way to get it into your trust after you're gone (which may be very important if some of your beneficiaries are very young or unable to handle assets themselves), is to have a pourover will. See similar questions...

There is much discussion these days over the use of revocable trusts (also called living trusts) in estate planning. Lawyers, accountants and financial advisors seem to have differing opinions about... MORE See similar questions...

Absolutely not. As trustee of your Revocable Living Trust, you have total control of your assets until your incapacity or death. You can amend, or even revoke, the terms of the trust. You even file the same income tax returns. See similar questions...

Your personally selected successor trustee will control your assets. If you and your spouse are cotrustees, either of you can act and have instant control if one becomes incapacitated or dies. If something happens to both of you, or if you are the only trustee, your handpicked successor trustee will control your assets. See similar questions...

The account statement, stock certificate, title or deed will make some reference to the trust or to you as trustee. Some examples are: See similar questions...

Most clients name themselves as the initial Trustee and provide for a successor or substitute Trustee if they should die, resign or become incapacitated. In deciding whom to name as your successor Trustee, you should consider the same points mentioned above when naming your Personal Representative (Executor). See similar questions...

A revocable living trust is the cornerstone of any estate plan. There are several advantages to creating this trust, including the possibility of saving thousands, or hundred of thousands, of dollars in probate fees and estate taxes. A revocable living trust avoids the need for probate, along with its high fees and delays. It provides an efficient means of distributing and selling your assets upon your death. See similar questions...

Your Revocable Living Trust instructions can be modified whenever you wish. At any time while you are alive and competent, you may alter, amend, or even revoke your Living Trust. See similar questions...

A revocable trust, also known as a "living trust," is a fiduciary relationship between a "grantor" who is the creator of the trust, and a "trustee" who is the person willing to manage the grantor's property. The primary purpose of creating a revocable living trust is to (1) streamline the probate process or, in some instances, eliminate the probate process; and (2) facilitate the management of assets in the event of incapacity. See similar questions...

RLT is a revocable trust set up during your lifetime. As grantor, you can register or title your property to your RLT. You can chang ethe trust at any time during your lifetime, so you continue to have maximum control and flexibility over your estate plan during your lifetime. See similar questions...

The centerpiece of your Estate Plan is the Living Revocable Trust. A Trust is a contract between the Grantor (the person who creates the Trust who, incidentally, is you) and the Trustee (the person who will manage the Trust assets, who is also you!). In the Trust contract the Grantor (you) gives all of his or her assets to the Trustee (also you). Obviously, you never really give yourself anything. The concept of giving yourself stuff you already own is called a "legal fiction. See similar questions...

No. The drafting of your Revocable Living Trust should only be done by an attorney trained in the area of Tax and Trust Law. It is important that you seek out a law firm which limits its practice to the creation of Revocable Living Trusts. After all, your Family Trust will be the document which manages and disposes of all your hard earned wealth. Make certain you choose a law firm which is both qualified and experienced. See similar questions...