Answer:
Not during the lifetime of the trust maker. A revocable living trust provides no asset protection for the assets held in the revocable living trust of the trust maker. The trust maker is often referred to as the "grantor" or the "settlor" of the trust. Therefore, with a husband and wife, there would be two "grantors" of the trust. Upon the death of the first grantor, a portion of the trust could provide asset protection for the surviving spouse if the trust is set up properly. To learn more about this technique for married couples, see the FAQ regarding bypass trusts.
Action Point: If asset protection is important to you, then you likely are a candidate for a revocable living trust coupled with other advanced planning options. Call Mr. Edwards today or email him here to set up your appointment to put your asset protection plan in place.
