Everyone is going to age. As a result, it's necessary to take steps to plan for aging. Long-term care planning is the formal name for the legal process of planning for your care once you reach elder status. It is the plan you make that covers your need for a nursing home, in-home health care or other services.
Should you set up a revocable trust?
If you are beginning to plan your estate, one beneficial type of trust to consider setting up is the revocable trust. A revocable trust is one where you can alter or cancel the provisions after you set it up. Unlike the irrevocable trust, this gives you more opportunities if you need to change the terms of the trust.
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