The infographic below explains what to look for in a trust litigation attorney. The best way to financially protect an elderly individual is by establishing a trust. However, they may be invalidated by a court if the trust instrument was executed based on another’s undue influence or at a time when the decedent lacks capacity.
When selecting a trust litigation lawyer, make sure that the attorney has a good reputation in probate and trust litigation. Hire someone whom you trust and with whom you can work over the course of your case. Also, make sure that your attorney has the patience and knowledge to answer any questions you may have.
A living trust, also known as a Revocable Living Trust, is not the same as a living will, which provides for medical care decisions. A revocable living trust is created while the person is still alive and can be modified at any time.
If the settlor of the trust becomes mentally incapacitated, his or her trustee can manage the assets of the trust, rather than a court-appointed guardian or conservator. Similarly, when the person with the living trust dies, the assets of the trust are managed for the benefit of the beneficiaries named in the trust agreement.For more information, refer to the infographic below.