Quote:
Originally Posted by flatbutt
My son is my Executor on the existing trust and will be on this one. I was just wondering if anyone has gone this far with a trust. Like I said my home and money for the Gkids is in a trust, now I'm planning to put my stocks,bonds et al into one as well and hoping it doesn't cause me headaches down the road, the unknown unknown as it were.
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That is great news, since I think I understand your relationship with your son is as solid as mine was with my Father.
It really makes a difference.
You two need to find a trusted estate planner and work though the options...I bet NJ has some rules and post death taxes that would focus the non compos mentis Flatbutt ASAP.
That said, my wife is her Mothers Legal Guardian...she runs everything on a pretty snappy (valuable) estate. We did this since her mother is truly non compos mentis and we needed to protect her and her assets. We did it right and involved her brother every step on the path.
Not an easy task, very emotional and requires a certain skill set. If your son is up to it, begin the research on Legal Guardians and how they can come into play given certain circumstances.
Honestly, FB, working through the options with my Father was an honor and there is a certain beauty in it.