When Trusts Protect Against Incapacity

One of the more popular estate planning tools today is the revocable living trust. Even though a lot of people create these trusts to avoid probate, many people don t realize that these devices can also help protect them in the event they become incapacitated. A proper incapacity plan should be a key piece of every comprehensive estate plan. Knowing how your revocable living trust interacts with your incapacity plan is important if you intend to get the most from your estate planning efforts. Trusts and Your Property To better understand how your trust will affect your ability to protect yourself and your property, we first have to understand how your trust will operate. On a day-to-day basis, people who have a living trust won t do much different than people who do not have one. When you create your living trust you will likely name yourself as both the beneficiary and the trustee. This means that you both use all of the personal property you transfer into the trust s name, and manag
http://www.norcalplanners.com/blog/estate-planning/trusts-protect-incapacity/

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