How does having a Trust avoid the need for a Conservatorship?
Instead of having to go through the demeaning public process of having a person declared incompetent, in order to manage their financial affairs for them, a Trust provides a simplified, no-cost short cut. The well spouse second Trustee or the successor Trustee obtains two sworn statements by two attending physicians attesting to the fact that the person is, “so mentally or physcially incapacitated so that they are unable to manage their own financial affairs in their best interest” (provisions included in a Trust) and with those two statements, a copy of the Trust and their identification, the Trustee can manage the assets held in the Trust, on behalf of the incapacitated Trustee.
