For many families in Edmonds, WA and throughout the Greater Seattle Area, protecting assets from the rising cost of long-term care is a top concern. One of the most powerful tools available for this purpose is the Irrevocable Living Trust.
At Washington Elder Law, we help seniors across Washington State use estate planning strategies that not only shield assets but also position them to qualify for Medicaid benefits. One such strategy? A carefully structured Irrevocable Living Trust.
What Is an Irrevocable Living Trust?
An Irrevocable Living Trust is a legal structure that allows you to transfer ownership of specific assets out of your personal estate while still preserving them for future generations. Unlike a Revocable Living Trust, once established, an Irrevocable Trust cannot be changed or revoked easily. But this very permanence is what makes it so effective for asset protection.
Like its revocable counterpart, it also helps your family avoid probate delays, court involvement, and unnecessary legal fees.
Why Puget Sound Families Are Using Irrevocable Trusts
In the Puget Sound region, the cost of long-term care continues to soar. Nursing homes and assisted living facilities in Edmonds and the Seattle metro area can easily exceed $10,000 per month. Families hoping to preserve their legacy and avoid financial ruin are turning to Irrevocable Living Trusts for benefits like:
- Shielding assets from the high cost of nursing home care
- Minimizing estate and income taxes
- Avoiding the risks of directly transferring assets to children
- Protecting wealth from lawsuits, creditors, and unforeseen legal claims
Assets placed in an Irrevocable Living Trust can include real estate, business interests, investment accounts, life insurance policies, and more.
Learn more about our elder law and Medicaid planning services.
Why This Trust Is Better Than a Revocable One—At Least for Medicaid
Under current Medicaid laws in Washington State, assets held in a Revocable Living Trust are still considered available to you, the grantor. That means they’re fair game when it comes to paying for your long-term care. Medicaid may count those assets and deny your eligibility for financial assistance.
However, when assets are placed in a properly designed Irrevocable Living Trust, they are no longer deemed available. This separation is what makes them exempt from Medicaid calculations—if the trust is crafted carefully and in compliance with Washington’s Medicaid rules.
💡 Important: Medicaid planning should begin years in advance due to the five-year look-back period that can penalize asset transfers made too close to an application.
Protecting Your Children’s Inheritance in Washington
When families in Edmonds and nearby communities transfer assets directly to children, they often don’t realize the risks. Those assets may be lost due to:
- Divorce or remarriage
- Lawsuits and creditor claims
- Poor money management
- Tax liabilities or reduced student aid eligibility for grandchildren
An Irrevocable Living Trust avoids these issues by keeping control and protection within the trust—ensuring your children and grandchildren can benefit from your legacy without unnecessary exposure or liability.
Get Personalized Legal Guidance in Edmonds, WA
Could an Irrevocable Living Trust be right for your family? Every case is different, which is why we recommend working with a local elder law attorney who understands the unique considerations of Washington State Medicaid law.
📞 Contact Washington Elder Law today to schedule a consultation. We proudly serve families in Edmonds, Seattle, and throughout the Puget Sound region—helping you protect what matters most.
