What are some other benefits of a Revocable Living Trust?
While you are alive, if you become incapacitated for any reason, your Successor Trustee can step in and manage your assets for your benefit, thereby avoiding the need for a costly and time consuming guardianship or conservatorship proceeding. A Trust provides a pool of funds for your Successor Trustee to use to pay your final expenses, such as, last medical bills, funeral arrangements, and to keep paying the mortgage and other bills until your estate can be settled. It puts one (or sometimes two) people in charge of administering your estate, avoiding conflict about what and how things should be done.
