If someone has a Revocable Living Trust then a Guardianship may not be needed if all assets have been properly placed into the Trust. If a person subsequently becomes incapacitated then the Co-Trustee, usually a Spouse, or a Successor Trustee, usually a Child, can take over and manage all of the person’s financial affairs and pay all their bills as Trustee of the Trust. This often, but not always, eliminates the need for a Guardianship.
How does a Guardianship relate to a Revocable Living Trust and do I need both?
Bookmark the permalink.