My question involves estate planning in the state of: FLORIDA
Hi, my name is Gustavo and I'm not american. My wife, Roberta, has double nationality, brazilian and american, and we both live in Brazil. However, she has family members living in USA.
Said that, we would like to buy a sailboat in US and bring it to Brazil (better and cheaper boats). However, we need that the boat be registered in the name of a US resident person. So, we talked with my wife's aunt that lives in US and she agreed to have the boat in her name. However, I want to assure that my wife's aunt has no right on the boat (selling later, using the boat, etc), to protect our saved investment. My wife would have all the rights regarding anything about the boat.
Well, we read some articles about Irrevocable Living Trust and we would like to know if it would be the right legal instrument for that. We are thinking something like: the aunt would be the grantor and trustee, my wife would be the beneficiary, where the grantor and the trustee shall haven't any rights.
Well, having said that, I have the following questions:
1) Is this idea plausible?
2) What name would be used on the sailboat registration with USCG? What will appear in documentation as the owner of the boat?
3) Is it possible to protect the asset in a irrevocable trust against Medicaid?
Thank you very much for your kindly help!