The Importance of a Revocable Living Trust

Sunday, July 3, 2016 | 1:14 am

No one wants to think about what happens when accidents or illness strike, but it is important to get your affairs in order before tragedy strikes. You deserve to have a say in who receives your estate and what it is used for. You also deserve to determine how you spend your last days should you become unable to relate your wishes at that time.

What is a revocable living trust? It is a trust that you set up while you are alive with a plan for the management and distribution of your assets. You can modify or revoke your plan anytime in your lifetime. It gives you the power to decide what will happen and who will manage your assets in the event you die or become mentally incapacitated.

What is an advance health care directive? There is a great debate in this country about end-of-life decisions. A health care directive gives you the power to make these decisions for yourself. All too often, people mistakenly think that they can wait until they are older to make these decisions and do not need to think about these things if they are healthy. Circumstances can change in the blink of an eye, however, so it is best to make sure your wishes are legally documented.

The American Bar Association’s (ABA) website cautions that when it comes to health directives “you should be aware that just having a written advance directive by itself does not ensure that your wishes will be understood and respected.” Take the time to directly share your wishes with your family, doctor and lawyer.

If you are looking for a local lawyer that can help you with these matters you can call Justin Shiau of Athlon Legal. They are located at 14 N. Fair Oaks Ave. Ste. 503 in Old Pasadena. You can reach them at (626) 888-9035. You can also visit Athlon Legal at www.athlonlegal.com.

 

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