Are Living Trusts of any real use?

Question

Assuming I have a revocable living trust, my death may be preceded (hopefully not) by huge medical bills being racked up and upon my dying the creditors will then go after my estate, so what use will the living trust be to my heirs? I would like to hear from qualified people who know a way around this dillemma.

Answer 1

You need to put your assets in an *irrevocable* trust instead.

This is too complicated a subject for Yahoo Answers, but if you do a search on "asset protection", you will find a number of sites that explains how to do this.

Jay Mitton is going around, doing seminars, and selling software for about $5,000 to do the whole thing. I don't know how good he is, or how good his software is, but the seminar is interesting. You might want to read one or more of his books, and the books of others. Check the link.

Answer 2

Its best you get advice like this directly from an attorney. Most offer free initial consultations. You can find a good estate planning lawyer in Riverside at the link below. I also put a few links for California Lawyers, Legal Advice, and Legal Articles.

http://www.riverside-san-bernardino-attorneys-lawyers-dui-directory.us/riverside-san-bernardino-probate-estate-law.htm
http://www.riverside-san-bernardino-attorneys-lawyers-dui-directory.us/riverside-san-bernardino-legal-services.htm
http://www.sandiegolawyerforyou.com/
http://www.california-attorneys-lawyers-dui-legal-advice-directory.us/california-estate-planning-lawyers-and-probabe-attorneys.htm
http://www.california-attorneys-lawyers-dui-legal-advice-directory.us/
http://www.legal-advice-library.info/resources_CA.htm
http://www.legal-advice-library.info/
http://www.legal-advice-library.info/articles.htm
http://www.san-diego-lawyer-attorney-personal-injury-dui-car-immigration.info/san-diego-california-lawyer-legal.htm
http://www.san-diego-lawyer-attorney-personal-injury-dui-car-immigration.info/