A typical revocable living trust protects your assets from the expenses of probate. Evan Farr’s Living Trust Plus^TM Asset Protection Trust not only protects your assets from the expenses and difficulties of probate after death, but also protects your assets during your lifetime from a multitude of financial risks, including lawsuits, creditor attacks, extended hospitalization, and nursing home expenses.  In fact, this type of Asset Protection Trust is the only asset protection vehicle that protects assets from potentially catastrophic nursing home expenses.

Evan Farr’s Living Trust Plus^TM Asset Protection Trust  is ideal for high net worth professionals who may be targets of lawsuits -- such as physicians, dentists, and attorneys.

Evan Farr’s Living Trust Plus^TM Asset Protection Trust  is specially-designed irrevocable, income-only trust.  Even though the trust is “irrevocable,” you will remain in control because you can be the trustee if desired, and you also:

• retain the right to receive all of the trust income;
• retain the right to live in and use your real estate;
• retain the right to change trustees; and
• retain the right to change beneficiaries.

The Living Trust Plus^TM Asset Protection Trust has no effect on your income and no effect on your income taxes, though the trustee of the trust will need to file one additional tax return. 

We also have an optional Living Trust Plus^TM Lifetime Protection System, which entitles you to unlimited consultations with our firm as necessary to carry out your Estate Plan and Asset Protection Plan consistent with your needs and desires. As part of our annual fee, we will modify your documents as often as necessary due to changes in the law, changes in your family or financial circumstances, changes of address, or changes in your wishes.

For a scholarly article about asset protection trusts written by Evan H. Farr for other attorneys, please click here.

For more information about the Living Trust Plus^TM Asset Protection Trust or the Living Trust Plus^TM Lifetime Protection System, please click here to contact us.