Is a Living Trust a good idea for a single person or someone who doesn’t have children?
Yes. If you’re widowed, divorced, or unmarried, a Living Trust offers greater protection that your assets will be distributed in exactly the fashion you wish. Furthermore, if you have no spouse or children, there is a greater risk of court guardianship if you become ill or disabled. Your Revocable Trust will spell out what you want done and by whom (whether a relative or corporate trustee) in case you become disabled.
