You likely do not want to think of spending your final years of life in a state of being mentally incapacitated. Unfortunately, this is a sad reality that many people end up facing. This can leave their loved ones scrambling to figure out the best way to care for them. Some people make the mistake of assuming that incapacitation should only be a concern in the later years of life. However, unfortunate accidents can cause able-bodied individuals to be permanently incapacitated. This is why it is important to know the following information.
Revocable Trusts and Incapacitation Overview
If you get a revocable trust, you can start preparing for the unknown, which includes mental incapacitation. Some people make the mistake of thinking that writing a will is sufficient for all things pertaining to their estates. Wills are effective legal documents when death occurs. But, some people can live in mentally incapacitated states of mind for many years. Opting to have a revocable trust will enable a successor trustee to act on your behalf if you become incapacitated. These trusted individuals will be able to make important decisions for you. A revocable trust will also permit you to specify what decisions the successor trustee can make on your behalf.
You must be specific when you are writing revocable trusts. This is because if the information is not in the trust, it might be difficult to enforce it. For example, you might tell your daughter how you would like for her to care for your estate if you are deemed mentally ill and unable to make decisions for yourself. However, if you have other children, they might challenge your trusted daughter in court and could win if you do not have your wishes outlined in the trust.
Perhaps you have already made it legally clear who will be in charge of your estate if you become mentally incapacitated. Some people forget to include information about their care. This can leave some heirs at their wits end, especially if they do not want to care for their disabled loved one. If you have concerns about being a burden, your revocable trust should include information about potential long-term disability care. Some individuals have trusts worth millions of dollars, and many of these people desire to remain in their homes regardless of physical disability or mental incapacitation. You can stipulate in the trust if at-home care is desired and required.
A trust lawyer is an excellent resource to use to ensure that your revocable trust is clearly written and legal. They can also help you to amend existing revocable trusts as well as establish wills and irrevocable trusts if you have additional estate needs. For more information, contact local professionals like Wright Law Offices, PLLC.Share