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| My family has an irrevocable trust to protect against nursing homes. There’s no land in the trust but there’s some life insurance policies, cash, and equities. It takes a lot of unselfishness from the grantor as they are completely giving up control of their assets. Bear in mind there’s a five year look-back period where nursing homes or other creditors can come for the assets in the trust. Besides the occasional contribution, there’s no income in the trust besides interest, but it’s my understanding that trusts have unfavorable tax rates if the trust is income-producing i.e. collecting annual rental income. | |
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Land trust
