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I've been reading about living trusts lately and found this undated article and thought it worth passing along. While the article doesn't really hit on living trusts, it helps folks see the need for them. From what I understand, living trusts can really save your family time and money with your passing.

>>A living will, which tells doctors exactly what kind of care you do and don’t want to receive if you’re terminally ill and incapacitated<<

Almost always, when the wishes of a suddenly and critically ill person can be ascertained, they want to revoke thir "living will" and go for the gold.

People, especially young and healthy ones, routinely overestimate how unacceptable intrusive care would be, and routinely underestimate the probability that such care would lead to meaningful recovery.

It should tell you something that the main pushers of "living wills" today are the government, and HMOs.

My father-in-law just passed away after a brief illness. He was 92. We have used the power of attorney, living will and health care surrogate documents many times during the past 3 months.

They were invaluable in dealing with his affairs, making the proper decisions, and proving to the doctors that a 92 year old man would not want a feeding tube and ventilator as they were suggesting.

There was pressure put on my husband, as health care surrogate, to put his father on a feeding tube and ventilator, even though it was clearly stated in his living will that he did not wish one, and even though the doctor told us his condition was "terminal."

We did prevail and they honored his and our wishes to not artificially prolong his life.

But I have become very suspicious of the "medical" community and it's desire to keep people alive through unusual measures even though their wishes have been made known in a living will.

As always when it comes to medical matters, it's wise to trace out the money trail before coming to any conclusions.

The doctors and hospitals like to have blanket permission to revive, extend life, try exotic treatments, and so forth -- if the patient has medical insurance. If not, and if they feel the family's financial resources are exhausted, they'd like authority to terminate life support for aything more severe than a hangnail.

The insurance companies, of course, see things differently. They love "DO NOT RESUSCITATE" orders, and living wills that direct the termination of life under a wide range of conditions. If a family member hold's the patient's durable power of attorney and the insurance company can get to him, he'll be subjected to pressure to terminate even against the terms of any living will the patient might have left.

When these titans clash, it's best to have one's affairs in impeccable order. It's also best to leave one's power of attorney in the hands of someone absolutely trustworthy with one's life -- but I'm not telling you anything you don't know.

All in all, living wills and the like are a chancy business.

Freedom, Wealth, and Peace,
Francis W. Porretto
Visit The Palace Of Reason: http://palaceofreason.com

The two most important documents to save your assets are 1.) Living Trust and 2.) 'Family' Limited Partnership.

If you will do a search on the FLP, it is an airtight way to keep anyone from seizing your property in a legal judgment. Odds are 1 in 3 you will be sued, if you are wealthy enough to own $50,000 in assets, and especially if you own a business. Small business owners are expected to be sued 5 times, on the average.

I have personally used this method, and when I was sued, the plaintiff dropped the case, because I had "no assets".

I could tell you horror stories about litigation over wills, including a saga about a missing will. But the author is right that, at least as important as a will, are the documents that enable your interests to be attended to while you are still alive (but presumably very sick). The lack of such documents - or documents that someone wanted to quibble about - has caused an unspeakable amount of grief and hardship and trauma, for the survivors as well as the dying person.

One word of caution: The powers of attorney (or of personal representative) for financial affairs last ONLY while the principal is alive. The instant that person is dead, the power to use his money ceases. Between the moment of death and the time the estate is distributed with permission of the probate court, it is possible that nobody is authorized to spend the decedant's money even for things that are sort of obvious, such as the expenses of his final illness and for his funeral. Sometimes people have not been buried for a long time because, until their estate was distributed, nobody was able (or willing) to stretch themselves out financially by paying for the funeral out of their own money in expectation of reimbursement. It may be highly desirable to make specific arrangements to assure that at least certain of the survivors have access to some assets during that interim.

You have to be very careful about living wills. Hospitals and "right-to-die" organizations use people's natural fear of pain and suffering for their own purposes, which is usually to pull the plug or cease giving care when the money runs out.

Regretably, nothing can replace having family members--a husband, wife, parents, or children--whom you can really trust.

I would never want to go into a hospital without knowing that someone I trusted was keeping an eye on things for me.