Are you concerned that the nursing home and long-term care drain all of your assets away, leaving your children with no inheritance? If so, you may want to consider creating an irrevocable asset protection trust to protect both you and your children. This free guide will discuss:
- Why you would create an irrevocable asset protection trust
- The benefits of giving to an irrevocable trust v. outright gifting to children
- Medicaid and VA benefits
- Florida's five-year "lookback" period
- The difference between revocable and irrevocable trust planning
Our easy to read guide will help you decide if you want to create an irrevocable trust to protect both you and your family. These trusts can be very complex and not everyone should have one, but if you have money you want to leave your children, this may be the way to go.
Also, you may want to just place your homestead property into an irrevocable trust. We have more on irrevocable trusts for homestead properties here.
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