People have some misconceptions about trusts. There are multiple different types of trusts, and they do not all accomplish the same things. With this in mind we would like to pass along three things that you should know about revocable living trusts. Medicaid Eligibility Some individuals have the idea that you are surrendering personal control of property that you place into any trust. They assume that they can convey resources into a revocable living trust as a way to reduce assets as they … [Read more...] about Three Things to Know About Revocable Living Trusts
Many people harbor misconceptions about some of the nuances of estate planning. When you hear the word "trust" mentioned you may immediately tune out of the conversation because you are under the impression that these instruments are only useful for the very wealthy. Wealthy people have to concern themselves with the estate tax. They also may have asset protection concerns. Revocable living trusts are one of the most commonly utilized estate planning devices, and in fact these trusts do nothing … [Read more...] about Why Use a Revocable Living Trust?