From the Attorney’s Desk

by Jason Krautkramer, J.D.

Eckert & Krautkramer, LLC

630 N 4th St. Wausau, WI 54403 715-842-0907 jason@eckertlawllc.com mailto:jason@eckertlawllc.com Revocable Trusts Don’t Protect Assets

Many people believe that once they set up a revocable living trust, they are protected from lawsuits and long-term care costs. This is not true. While trusts commonly protect a beneficiary’s inheritance, few trusts protect assets previously owned by the settlor from the settlor’s creditors and cost of care. Because die settlor can revoke die revocable living trust and often serves as die trustee, creditors can still access die trust’s assets, as die setdor’s control over them remains largely unchanged.

Fully funded revocable living trusts are still excellent tools but need to be complemented with insurance, business entities, and asset protection trusts, depending on your unique circumstances.

Schedule an appointment if you have questions about asset protection. We can review your plan and determine what additional steps need to be taken.