If your goal is to protect your assets from Medicaid then an Irrevocable Trust is what you need. This is because Medicaid considers any assets that you can withdraw from a trust as assets for Medicaid and Medicaid will require you to use those assets towards the cost of your care. An Irrevocable Trust can, however, protect your assets in the event you enter a nursing home.

However, if your goal is to avoid probate and you want maximum control, a Revocable Trust may suit your needs and as its name states, a Revocable Trust can be revoked by the creator. In some instances both an Irrevocable and a Revocable Trust may be recommended.