Living Probate occurs when you become incapacitated and can't make decisions for yourself. You may be declared incompetent in court and anyone, even a stranger, can be appointed to take care of your property and person. The person appointed as Conservator might not be your spouse or even one of your children. Court hearings are necessary to establish a Conservator. They are public, time consuming, costly, and agonizing for all. The Conservator must regularly report to the court. How can you guard against Living Probate? ♦ Make a decision to set up the necessary forms while you are able to. ♦ Establish Powers of Attorney and Nomination of Conservator. ♦ A good Living Trust package will have these necessary documents.
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