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ABA Family Legal Guide
The Rights of Older Americans
A Right to Control Your Own Affairs
Living Trusts
- What is a "living trust"?
- What is a living trust useful for?
- How may I use a living trust to plan for possible incapacity?
- I thought a trust simply paid an allowance to someone. If I need a trust because I cannot manage my own finances, how would this help me?
- Is a living trust just for someone who is incapacitated?
- My father has a lot of money in his estate, but he is becoming increasingly forgetful every week. May he still write a living trust?
- May I decide that I want to change, or revoke, a living-trust arrangement?
- How may I ensure that my trustee will manage my affairs properly after I become incapacitated?
- My wife and I hold most of our assets in common. May I still draft a living trust to protect my share of the estate?
- It sounds as though a living trust is a very complex type of financial planning tool. Who can help me decide if one is right for me?
Copyright © 2004 American Bar Association