What is the Living Trust Plus™ and how does it work?
The Living Trust Plus™ is an irrevocable asset protection trust that you create while you are living, that protects your assets from probate PLUS creditors PLUS Medicaid. You receive all ordinary income (interest, dividends, rent, and royalties) from the trust assets (at least annually, but as often as desired), including the right to live in any trust-owned real estate, but you can not have direct access to principal. If either you or your spouse has direct access to principal, the assets in the trust would be deemed “countable” for Medicaid eligibility purposes and would be completely available to almost all other creditors. Prohibiting direct access to principal is the key to why the Living Trust Plus™ works — for general creditor protection and for Medicaid asset protection.
