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Dad's (96) daily, short term memory and energy level is deteriorating at an accelerated, alarming rate. He's much grumpier, short tempered and paranoid. We need to create a trust so we can change his life insurance beneficiary to the trust. He thinks he still sharp enough to be in charge of the trust even though he knows his short term memory is failing as well as his health. We cannot afford to set up an irrevocable trust where he's responsible Then go to court and have him to clear non compos mentis, which would be costly emotionally and financially. Would an intervention with dad, my sister and I (and his MD - unlikely) Be advisable as I fear it will just make him angry, as we would be indicating he is no longer the patriarch in charge of his own funds. Ironic, since I pay all the bills in manage the household without his involvement, Though he clearly trust me to do that. He also is talking about me going back to work, which is not possible due to his growing wants/needs, my mental and physical health, age and more. factors.

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Why do you need to change his life insurance beneficiary to a trust?
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Maltesemom, it will depend if the Elder Law Attorney feels that your Dad is still able to understand all the legal language that is in an Irrevocable or Revocable Trust. As for which type of Trust to use, it would be up to the Elder Law Attorney to advise.

Please note that such a Trust does take months to create depending on how any assets are involved, it cannot be completed in one day. For my parents, their Revocable Trust took several months as there were "drafts" to which my parents needed to preview and to make any changes, etc. Then eventually the final paperwork for signing.

As for changing your Dad's life insurance beneficiary to the Trust, that is something the Attorney needed to advise.

Sorry, but I am lost about doing an intervention.... or about going to court. Make an appointment with an "Elder Law Attorney" and let the Attorney take care of everything.

Or were you thinking of printing blank copies off the Internet and filling them in? This is not a do-it-yourself project. There are State and Federal laws that one needs to know, and to know what is happening in Congress today or next month that would create changes to the Trust. One misplaced word or one missing word could turn the Trust into a huge mess.
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