Article by Beth Ann R. Lawson, Esq.
At a recent event, a young woman asked me to define a Revocable Living Trust (Trust) in “real people” terms rather than legal language. To do so, I used my children and my pets as real life examples to show how a Revocable Living Trust works. It doesn’t get more “real” than children and our pets.
When my children were small, I would leave them and my pets with my parents or other family caregiver for a few days while I traveled for business. I always left extensive written instructions along with medical cards and money to make sure the caregivers could act promptly and know exactly what to do in many different situations. A Revocable Living Trust is the formalized, more detailed and legally enforceable version of the scribbled notes left on the counter for the sitters. Continue reading