Rochester Estate Planning Lawyer on the Importance of Having a Living Trust
- There is a cost to a living trust, and it has to irrevocably protect you from Medicaid; a revocable trust will not protect your assets from Medicaid.
- If you have all your assets in the trust or otherwise have beneficiaries on it, you could completely avoid the probate process,
- You must fund your trust, it is useless if you do not.
- This is a very complex area as far as your estate planning, but it’s something to think about as far as preserving your assets.