A Living Trust Can Cost You!
One of the more common estate planning techniques employed by Elder Law attorneys is the revocable Living Trust. There are a number of benefits that can often be gained by the use of this vehicle, including the avoidance of Probate, appointment of Successor Trustees, etc. And, depending on the situation, the benefits of a Living Trust often exceed those of a simple Will. However, when it comes to protecting assets from Medicaid, the use of a Living Trust to transfer assets to your children CAN, under some circumstances, actually reduce, by as much as 40%, the value of assets that can be saved. For a majority of patients the use of a Living Trust will have no impact on the outcome. But for a sizable minority of cases, a Living Trust could actually reduce the amount of assets saved by as much as $100,000, or more. In most cases there are ways to “get around” the problem. And that’s just one of the many subjects you’ll learn about in your MAPPTM package.