Revocable Living Trust and Dementia.
Some advisory articles recommend using a revocable living trust to help protect from elder financial abuse in the event that one becomes mentally (or physically) incompetent. Especially in the scenario where one is a widow with no children and no other living relatives. I am researching whether a trust could help me BEFORE I die. (My goal is different than most people who use trusts for probate avoidance and other issues AFTER death.) Any advice on using a trust for this purpose? Any thoughts about designating a “corporate trustee” (i.e., a trust company) rather than a family member as trustee? Any local trust company recommendations?
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