Estate Planning 101: Wills, Trusts, and Powers of Attorney: What Social Services Professionals Need to Know to Serve Their Clients Janna Dutton, Attorney Governor's Conference on Aging, 2011. Issues Involved in Planning for Older Age. Financial Decision-Making and Management
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Estate Planning 101: Wills, Trusts, and Powers of Attorney: What Social Services Professionals Need to Know to Serve Their ClientsJanna Dutton, AttorneyGovernor's Conference on Aging, 2011
Example: Eliza transfers her house and her brokerage account to herself as trustee of the Eliza Living Trust. In the trust document, Eliza designates her son, Elliot, as successor trustee if she becomes disabled.
Common Trust Provision:
7.2 Accountings. Upon written request, the trustee shall send a written account of all trust receipts, disbursements, and transactions and the property comprising the trust to each income beneficiary and, at the option of the trustee, to the future beneficiaries of the trust. A “future beneficiary” of a trust is a person to whom the assets of the trust would be distributed or distributable if the trust then terminated.
today who are 65 years old will
need some kind of long term care
during their lifetimes.
If you needed assistance with Activities of Daily Living, how would you access that assistance?
How would you pay for it?
Janna Dutton, Kathryn C. Casey, Melissa Howitt, Lara A. Duda
Appointments Available In:
Arlington Heights, Chicago, Skokie, and Vernon Hills, Illinois
Phone: 312-899-0950 or 847-261-4706