Florida Estate Planning Lawyer Blog
We often get asked about the iPug™ Trust and how it can be so different than a traditional revocable trust or a standard irrevocable trust. The iPug™ takes the best parts of an irrevocable trust and mixes them with the best parts of a revocable trust to create a new type of irrevocable trust where you are in control and can make changes to the beneficiaries and management of the trust just like you can with a revocable trust.
Why Do People Love iPug™?
Because iPug™ Protects You and Your Family From:
- Lawsuits
- Nursing Homes
- Those that want to take away what you worked hard for.
- Children’s indiscretions, their spouses and divorce.
An iPug™ Keeps You In Control By:
- Allowing you to control your assets until death.
- Allowing you to retain some, all, or none of thel income from your assets.
- Permitting you use of your assets during life.
- Ensuring you are able to qualify for Medicaid in the shortest period of time possible (often less than three years).
- Favorable income and estate tax treatment.
Asset Protection Planning includes many complex laws, including, trust law, Medicaid law, probate law and contract law. If you have been using a traditional trust or will to protect from probate, it may be time to upgrade your planning to include asset protection. An iPug™ trust can be used with your current estate plan with some minor changes to your will and trust documents.