A revocable living trust gives you some incapacity planning benefits. When you create your trust, you usually name yourself as the trust manager, or trustee. However, should you become incapacitated, you’ll need someone else to manage the trust for you. This person is called the successor trustee. Luckily, you can choose this person as well. So, should you become incapacitated, your choice of successor trustee will step-in to manage the property the trust owns. This allows for seamless management of your financial affairs in the face of incapacitation.
Topics covered in this report include:
- Revocable Living Trust Benefits
- Probate and Your Trust
- Funding Your Trust
- Living Trusts as a Part of a Complete Estate Plan