Samantha wants to have great flexibility of a trust she is considering creating and wants to determine the standard for incompetency. What would her best option to meet her needs?

Question

Quizplus · Accepted Answer

A client that wants to have great flexibility of a trust and wants to determine the standard for incompetency should use a living trust. Living trust has great flexibility and the grantor determines what provision will be included in the trust document, such as what the standard for incompetency will be. Additionally, living trust has smaller administration costs and a wider a management authority allowing the trustee to conduct more kinds of transactions with the grantor's property than would be possible under a guardianship or conservatorships.

Samantha Wants to Have Great Flexibility of a Trust She