A typical revocable living trust protects your assets from the expenses of probate. Evan Farr’s Living Trust Plus^TM Asset Protection Trust is a total lifetime protection system that 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 other financial risks, including the threat of lawsuits, auto accidents, creditor attacks, extended hospitalization, and -- most importantly for our elderly clients – the threat of catastrophic expenses associated with nursing home care.

Evan Farr’s Living Trust Plus^TM Asset Protection Trust  is a special type of irrevocable, income-only trust.  Even though the trust is “irrevocable,” you will remain in control because you will:

• 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. Along with our Living Trust Plus^TM Asset Protection Trust, you will also be enrolled in our 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. If and when necessary, we will: assist you with selection of appropriate long-term care facilities; review, prior to signing, all admission documents; and obtain Medicaid benefits for you at the appropriate time. 

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.