Just went through the trust type decision with MIL. Chose revocable for a number of reasons. I don’t trust the care given to Medicaid patients in nursing homes. And in MIL’s case, there would be a huge difference in basis for $ left to trustees. IIRC, In revocable, there is step up basis to time of death. In irrevocable, the basis is basis at the time the trust is set up. The tax difference more than offset the financial gain of hiding assets in an irrevocable trust. And I didn’t want to “hide” her assets anyway.