Physical infirmity, age or health may affect a loved one’s ability to handle his or her personal or financial affairs. Alzheimer’s and dementia will become more prevalent according to the National Institute on Aging in the coming years and currently, approximately a half a million individuals under age of 65 may have some form of dementia. What does this mean when dealing with a Trust instrument?
Living longer in today’s society has imposed a dilemma as to when to determine that a Trustee of a Lifetime Revocable Trust lacks capacity and the Co-Trustee or Successor Trustee should take control of the Trust.
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