ESTATE PLANNING INSIGHTS By Ethan R. Okura
Many of my past columns have focused on how to structure your estate plan to protect your home. I’ve discussed protecting your primary residence and other real property from probate through the use of revocable and irrevocable trusts, through joint ownership or tenants by the entirety ownership and through revocable transfer on death deeds. I’ve also discussed how to protect real property from the threat of nursing home costs by giving property directly to your children or to an irrevocable trust more than five years before you need to enter a nursing home. We’ve also covered how to protect your home from lawsuits and creditors through tenants by the entirety ownership (either individually or in revocable trusts), through a limited liability company with equity stripping or, best of all, through the proper use of irrevocable asset protection trusts.
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