Will a trust protect my assets?

I'm Attorney Amber Jade F. Johnson and you need to know whether trusts will protect your assets. First, let's talk about a Revocable Trust. This is a document that we use in Florida instead of the Last Will and Testament as a client's main estate planning document. The reason that we use Revocable Trusts in Florida is they save the family a lot of money, they avoid a lot of the costs of probate. However, they do not protect your assets. The main reason for a Revocable Trust is the same as your Last Will and Testament, and that is to transfer your assets efficiently after your date of death. 
                    
You do not look to a Revocable Trust to protect your assets. However, they can go a long way toward establishing trust for your children, and protecting your children's assets. In other words, your children's inheritance. You can set up sub-trusts under your Last Will and Testament, or Revocable Trust, whichever one you end up using, to protect your children's assets in the event that they divorce. You can make sure that their inheritance will not be split by the court with an ex-spouse. You can set up trusts to protect special needs beneficiaries and make sure that their inheritance will not disqualify them from Medicaid. You can set up trusts for elderly parents to make sure that they have funds to provide them with the lifestyle that you want them to have, but without disqualifying them from Medicaid if you ever needed it. And, you can set up trusts that will protect money from a beneficiary that has a drug problem, an alcohol addiction, or just simply spends money like it's flowing through their fingers like water. 
                    
Those types of trusts you definitely protect your family's inheritance, and you can go a long way toward protecting their inheritance by simply doing some planning. 
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