1. Unless there are very specific terms and provisions, you may not be able to revoke, amend, or modify the Trust upon incapacity or incompetency. 2. The Trust must be "funded." If assets are not properly transferred to the Trust, the Trust may not be valid. 3. Without very specific terms and provisions, you may not be able to plan for long-term care or qualify for Medi-Cal benefits. 4. Without very specific terms and provisions, you may not be able to protect and preserve the Trust assets from Medi-Cal / Long-Term and Health Care costs liens or the claims of judgement creditors. 5. Many married couples have an "A" - "B" Trust which requires the establishment of an "Irrevocable Trust" upon the death of one spouse. Furthermore, the surviving spouse's use of the assets may be limited. 6. Without very specific terms and provisions, upon the incapacity or incompetence of one spouse, gifts to the well spouse or children may not be permitted. 7. Withour very specific terms and provisions, if your Successor Trustee (your spouse or children) takes certain action in dealing with the Trust assets which is not permitted under the Trust, he / she / they may be liable for criminal and civil Elder Abuse! 8. Assets in a "Revocable Living Trust" are SUBJECT TO THE CLAIMS OF THE CREDITORS AND JUDGEMENTS!
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