Will a living trust help me while I am living?
A living trust may provide a structure for the management of a person's assets. This structure could be particularly useful if the trustee has investment expertise, such as a trust company, or the trustee retains investment counsel. The asset management function of a living trust can become particularly important if the grantor becomes incompetent or is otherwise incapable of handling financial affairs. If a living trust is in place, it is not then necessary to have a guardian appointed by the probate court to administer the now incompetent grantor's assets. On the other hand, the execution of a "durable power of attorney" - a document by which an individual (the principal) gives another person (the attorney-in-fact) the power to manage the principal's assets - may also avoid the necessity of a court guardianship.

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1. Will a living trust save income taxes?
2. Can I preserve assets in a living trust and still qualify for Medicaid?
3. Will having a living trust avoid challenges by my beneficiaries or heirs?
4. Will I save estate taxes with a living trust, compared with a will?
5. Will a living trust protect my assets against creditors?
6. Will a living trust help me while I am living?
7. How are trusts classified?