Legal Question in Elder Law in California

living trust

if you put your assests in a living trust exactly what protection does it give you. assests being a home, bank accounts and all possessions.

thank you kindly


Asked on 2/27/08, 8:49 am

2 Answers from Attorneys
Phillip Lemmons, Esq. Phillip Lemmons APC, Attorneys at Law

Re: living trust

good question. the common living trusts are revocable, so if your trust is revocable, the answer is none. you can use a trust to preserve a spouse's estate tax exemption, but that's only helpful if you estate is worth more than $2,000,000. personally i don't understand people who sell revocable trusts as instruments of protection.

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Answered on 2/27/08, 12:00 pm
Terry A. Nelson Nelson & Lawless

Re: living trust

A proper trust is designed to protect your assets from judgments against you, or from being used to deny SS benefits because of too much money and assets.

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Answered on 2/27/08, 5:23 pm


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