[Porsche-O-Phile]

Parents just set up an irrevocable trust - in their state this is required to protect assets and ensure access to Medicaid (you need to become "impoverished" and show no assets in your name otherwise the nursing home takes them all). A revocable trust isn't viewed as putting assets sufficiently out of your control to protect them from the Medicaid assessment. Check with a lawyer in your state for specifics of what you need. You do NOT want everything going to a nursing home or assisted living facility, you want it going to your beneficiaries / heirs.