Protecting Your Assets from Probate and Long-Term Care: Don't Let the System Bankrupt You and Your Loved Ones

Farr, Evan H.

ISBN 10: 1621535533 / ISBN 13: 9781621535539

Published by Allworth, 2017

Seller Inventory # 1621535533-3-22790256

Synopsis:

Evan H. Farr is a lawyer with expertise in asset protection and related topic. Let him, in plain language, explain the need to consider both probate and the expenses of long-term care when you create a living trust.

Have you ever considered the advantages of creating a living trust? Avoiding probate through the use of living trusts is a well-known solution, but author Evan H. Farr takes this issue one step further.

A revocable living trust, the main tool used for protecting your assets from probate, does not protect assets from the catastrophic expenses of long-term care. A very useful and popular estate planning tool, revocable living trusts are recommended by tens of thousands of attorneys across the United States and are used as the central estate planning document by millions of Americans. However, what most Americans don’t realize is that assets in such a trust are not protected from lawsuits or from the limitless expenses associated with nursing homes or long-term care.

In order to help readers protect themselves from both probate and long-term care, Farr delves into the many details you should know when creating a living trust. He also outlines his Living Trust Plus™ Asset Protection Trust, which is the only type of self-created asset protection trust that allows you to avoid probate and retain an interest in the trust while also protecting the assets from being counted by state Medicaid agencies. He details the process of avoiding probate and securing assets, including:

Joint ownership problems
Special needs planning
How to pay for the nursing home
Why Medicaid planning is ethical
The ten most common Medicaid myths
Finding the right lawyer

Protecting Your Assets from Probate and Long-Term Care will help to ensure your family does not have to reap the consequences (and expenses) of improperly creating a living trust.

About the Author: Evan H. Farr is widely recognized as one of the foremost experts in the field of Medicaid asset protection and related trusts. He is the creator of Living Trust Plus™ Asset Protection System, which is used by dozens of estate planning and elder law attorneys around the country, and he is the founder of the Elder Law Institute for Training and Education. He is the bestselling author of Nursing Home Survival Guide and Protect & Defend, and he has been rated as one of the best lawyers in the country by numerous publications, including SuperLawyers.com, Washingtonian Magazine, and Newsweek. He lives in Fairfax, Virginia.

Bibliographic Details

Title: Protecting Your Assets from Probate and ...
Publisher: Allworth
Publication Date: 2017
Binding: Paperback
Condition: Good