It requires less accounting, administration and judicial supervision than a trust created by will. It can assist in the management of assets for a young adult or spendthrift. The Living Trust is an excellent method for protecting the Grantor's assets in the event of incapacity. The trust can make specific provisions for the continuity of one's affairs in the event of disability, rather than necessitate the court appointment of guardian. Many persons place their assets in a Living Trust because they want to avoid court intervention if they become unable to manage their affairs.
Court proceedings are both expensive and time consuming.
The creation of a Living Trust and the funding of it completely avoids this. A durable power of attorney may suffice in certain situations, but a properly prepared Living Trust provides additional flexibility regarding the powers of the fiduciary to make gifts and do other tax planning. Under such circumstances the management of the trust will only shift to the successor Trustee when the incapacity of the Grantor occurs as the incapacity of its Grantor is defined in the trust. The determination of the Grantor's incapacity should not be left to the judgment of the successor Trustees or beneficiaries. It can avoid publicity.