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How a Revocable Living Trust Can Help You Avoid the Need for a Court Ordered Guardianship


Attorney Thomas B. Burton discusses how a Revocable Living Trust can help you avoid the need for a Court ordered guardianship while you are alive, as well helping your assets bypass probate court after your death.


Transcript of Video: How a Revocable Living Trust Can Help You Avoid

the Need for a Court Ordered Guardianship

Today's question how can a revocable

living trust help me avoid the need for

a guardianship if I'm ever incapacitated

or disabled if you form a revocable

living trust and transfer the bulk or

most of your assets into the name of the

trust you can name yourself as trustee

to act while you are able if you are

ever incapacitated or unable to act for

instance let's imagine you're in a coma

your trust names a backup trustee to

take over and manage your assets for you

this is a seamless transition and it

allows one person to manage the same

assets and another person to take over

when necessary when you regain

consciousness or your faculties you can

take over the duties again of managing

your own financial affairs a revocable

living trust it's important not just for

death planning but for planning while

you're alive there are many instances

where people get older and they have

periods where they're unable to manage

their assets or they simply don't want

to do it all themselves anymore they can

then have the trustee of their trust

help them legally manage these assets

it's a very efficient way of doing it and

banks, trust companies, financial

institutions are very familiar with

dealing with trustees in addition it can

help you avoid the need for an expensive

guardianship proceeding a guardianship

involves going to court and paying

an attorney like myself an hourly rate to

petition to get appointed as the

guardian of someone's estate generally

this can take many hours and cost $3,000-$5,000

or more to get

someone appointed as guardian if you

wait until someone is already

incapacitated planning ahead now can

save you money later and also make a

much more efficient administration of

your assets for your friends and family

and trustee

Great question and thank you

for asking!

© 2018 Law Office of Thomas B. Burton. All Rights Reserved.

Transcript and captions provided for ease of access for the hearing impaired.

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