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Strategies & Market Trends : Estate Planning -- Ignore unavailable to you. Want to Upgrade?

To: SI Dave who wrote (11)	1/15/2005 1:06:15 PM
From: redfish	Read Replies (2) \| Respond to of 79

That is the case with respect to an irrevocable trust. It is a more complex animal than the revocable one. The assets in a revocable trust count as your assets, as you can take them back anytime you want. With the irrevocable trust, you give up all ownership, rights to, benefit and control of the assets, so they don't count as yours.

To: SI Dave who wrote (11)	1/15/2005 1:18:15 PM
From: Cisco	Read Replies (2) \| Respond to of 79

Dave, I am setting up a revocable living trust for avoiding probate, to allow for orderly administration of my daily living should I become unable to act upon my own behalf, to allow for property management for my children, and to keep my estate plan confidential after death. It is my understanding that a revocable living trust cannot be used to shelter assets for purposes of Medicaid eligibility, to provide advance health care directives or to protect assets from creditors.