This Living Will Package contains essential forms that allow you to make decisions about life support and direct others to implement your desires in that regard. These forms allow a person to explain in writing which medical treatment he or she does or does not want during a terminal illness. The following forms are included:
1. Document Concerning Withholding or Withdrawal of Life Support Systems
2. Revocation of Document Concerning Withholding or Withdrawal of Life Support Systems
3. Statutory Health Care Directive Living Will
4. Revocation of Statutory Health Care Directive
5. Uniform Anatomical Gift Act Donation
6. Revocation of Anatomical Gift Donation
A living trust in CT, also commonly known as a revocable trust, is a legal arrangement wherein an individual (known as the granter or settler) creates a trust during their lifetime to hold and manage their assets. The trust is "living" because it is established and takes effect during the granter's lifetime, as opposed to a testamentary trust, which is created through a will and takes effect upon the granter's death. Living trusts in CT provide flexibility and control over one's assets while also offering several advantages, such as probate avoidance, privacy, and the possibility of incapacity planning. By placing assets into the trust, the granter transfers legal ownership to the trust, making the assets no longer subject to a probate process upon their death. This can save time, costs, and maintain privacy, as probate records are generally public. Moreover, living trusts in CT also offer incapacity planning benefits. If the granter becomes mentally or physically incapacitated, the successor trustee, usually a trusted family member or a professional fiduciary, can seamlessly step in to manage the assets on behalf of the granter while adhering to the trust's instructions. This eliminates the need for a conservatorship, which involves court supervision and can be costly and time-consuming. There are different types of living trusts in CT, catering to various personal and financial situations: 1. Individual Living Trust: This type of trust is created by an individual and holds their assets solely for their benefit during their lifetime. Upon their death, the trust can be structured to distribute the remaining assets to designated beneficiaries or continue to hold the assets in a trust for their heirs. 2. Marital Living Trust: This trust is established by spouses together and holds their individual and marital assets. It aims to provide estate tax planning benefits by taking advantage of each spouse's federal estate tax exemption and ensuring seamless asset management and distribution upon the death of either spouse. 3. Joint Living Trust: Similar to a marital living trust, a joint living trust is created by two individuals, generally spouses, to hold their assets jointly. This type of trust is useful for couples who share assets and have similar estate planning goals. 4. Testamentary Living Trust: While technically not a living trust, the testamentary living trust is mentioned here for clarity. This trust is created within a will and becomes effective only upon the granter's death. It allows for the assets to pass into a trust rather than directly to beneficiaries, thereby potentially avoiding probate for those assets. Overall, a living trust in CT is a versatile estate planning tool that provides control, privacy, and flexibility during one's lifetime while ensuring a smooth and efficient transfer of assets after death. It is advisable to consult with an experienced estate planning attorney to determine the most suitable type of living trust based on individual circumstances.
