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Does a Maryland Revocable Living Trust Provide Asset Protection?

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Living TrustsA revocable living trust can be a good choice as an asset transfer vehicle for a wide range of people, but it does not satisfy every single objective. We will examine the value of these trusts in this paper, but first, we will look at the matter of asset protection.

It is said that we live in a litigious society. Indeed, there are people out there who like to file lawsuits,  especially if they feel as though the person they are targeting has a great deal to take. Plus, there are certain business endeavors and professions that create vulnerabilities.

Many people think that you are creating a legal degree of separation when you convey assets into any type of trust. The idea is that any trust would protect assets from legal judgments.

In fact, this is not true with a revocable living trust. convey assets into this type of trust.    For full article, click on the link “Does a Maryland Revocable Living Trust Provide Asset Protection?” by Attorney Jon J. Gasior

 

Jon J. Gasior, Estate Planning Attorney
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About Jon J. Gasior, Estate Planning Attorney

His personal experience with family and the problems that resulted from their failure to create an estate plan resulted in his desire to learn more about this area of the law. From his work in the Elder Law Clinic, he further realized the need to plan not only for death, but also for incapacity during their lifetime. About the Author !