Q.Can anyone have a Revocable Living Trust?

A.Anyone of sound mind over the age of 18 can set up a Revocable Living Trust. Having a “sound mind” refers only to the moment when you actually execute (sign) the Revocable Living Trust documents. A person suffering from a mental illness, beginning Alzheimer’s, senility. or dementia may legally sign a Revocable Living Trust so long as at the moment they sign they understand: (1) that they are creating a trust, (2) who their named beneficiaries are; and (3) the nature and extent of their assets.

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