A Last Will and Testament
- If you have a will and become incapacitated, nothing in your will can help manage your assets while you are living.
A Living Trust
- If you have a living trust, your co-trustee or successor trustee can continue to manage trust assets without a court supervised guardianship.
- A court supervised guardianship costs money and requires the courts to supervise how someone manages your assets.
A Testamentary Trust
- A testamentary trust is created after you die. It does not provide value if you become incapacitated.