A revocable trust can provide some protection for your assets, but will not necessarily provide 100 percent of the protections that you might expect a trust would offer. Revocable trusts are beneficial in case you become incapacitated, because you can name a person who will serve as backup trustee and begin managing trust assets immediately. Revocable trusts are also beneficial in allowing for asset transfers outside the probate process, which means an inheritance can be received by new owners in a more timely manner. However, the assets in a revocable trust are a part of your taxable estate and are assets for purposes of means-tested benefits, like Medicaid which you may need to pay for nursing home costs. This mean asset protection is limited. Find out more here about whether a revocable trust will protect assets.