tenant13
Full time employment: Posting here.
I've just learned about the existence of these trusts (https://smartasset.com/retirement/charitable-remainder-trust). They are kind of like annuities - unless I'm not understanding something.
I'm working on a my end-of-life estate paperwork and being single with no heirs it's all a bit complicated to set up. So I thought of this: the lawyer wants me to set up a Revocable Living Trust. I wonder if I could add a clause to my healthcare directive that in case of disability or incapacitation this revocable living trust automatically converts to a CRT. That would provide a steady stream of income financing my care and remove the possibility of my agent (designated by the power of attorney) just selling my assets and disappearing.
I'm working on a my end-of-life estate paperwork and being single with no heirs it's all a bit complicated to set up. So I thought of this: the lawyer wants me to set up a Revocable Living Trust. I wonder if I could add a clause to my healthcare directive that in case of disability or incapacitation this revocable living trust automatically converts to a CRT. That would provide a steady stream of income financing my care and remove the possibility of my agent (designated by the power of attorney) just selling my assets and disappearing.