Living Trust (Florida & Colorado) does it protect assets?

[CitrusSunshine]

Does a Trust protect one's assets? Are they irrevocable? Can a corporation have a Trust? Is it fraud if a couple creates a Trust and transfers all assets to it to become eligible for medicare/medicaid?

 

[ALawyer]

Does a Trust protect one's assets?
It depends on the type of trust. If a Living Trust the answer is NO. Read Asset Protection on http://FreeAdvice.com

Are they irrevocable?

It depends on the type of trust. For most Living Trusts, the answer is NO.

Can a corporation have a Trust?

YES BUT. This shows you need to read the stuff on FreeAdvice before asking questions.

Is it fraud if a couple creates a Trust and transfers all assets to it to become eligible for medicare/medicaid?

SOUNDS LIKE IT. It depends what and when.


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