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Old 09-05-2021, 06:26 AM
MrLonzo MrLonzo is offline
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You didn't say specifically what your concern is with "elder financial abuse", but I believe that is what a financial power of attorney is for. With no living relatives, you could appoint a trusted friend to such a position. If you, like myself, have no one you feel comfortable appointing, there are professional fiduciaries that can do the job. Just make sure they are with a reputable company or have appropriate licensing/bonding/certification. An estate planner can help find the appropriate person. Such fiduciaries can also take on the job of estate executor.

As far as using a trust, I assume you'll be leaving your assets mostly to charity so probate will not be an issue, nor would it be likely to have anyone challenge your Will. Thus the two main reasons for having a Trust disappear. And finding a trusted successor Trustee comes with the same challenges as finding a financial power of attorney. I've set up a donor advised fund (easy to do with Schwab or Fidelity), which has a legacy feature as well. You can simply maintain your own personal funds then bequeath them to the DAF as a beneficiary when you die.