Living Trusts - AgingCare.com
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Living Trusts

Revocable trust; A legal document that identifies assets that are placed into a trust and remain under your control while living, then pass to a beneficiary upon death without going through probate.
  • Adding this one simple step when a loved one creates or changes their will, powers of attorney and other crucial legal documents can minimize unnecessary stress and familial discord down the road.
  • Family caregivers work tirelessly to ensure their loved ones’ health and happiness, but many don’t realize that there’s a legal component to their role. Without these crucial healthcare documents, you may not be able to help when your elder needs it most.
  • Familiarize yourself with the basic legal documents and forms that seniors and their caregivers use to create cohesive legal, financial and medical plans for the future.
  • There are many different legal and financial tools that can be used for Medicaid planning, estate planning and tax planning purposes. A living trusts are one popular option, but it is important to know how this tool works and make sure this is the best fit for your assets, personal situation and goals.
  • It is crucial to engage in proper legal planning with family members while they are still of sound mind. An elder law attorney outlines competency criteria that must be met in order to obtain valid legal documents before a crisis strikes.
  • Many adult children and caregivers are concerned about how their parents' debts will be handled once they pass. For parents who are in long-term care facilities, there may be some states where children might be responsible for their bills.
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