Trusts are a part of many estate plans in Washington DC. These trusts are often set up with specific provisions regarding changes that can be made to them, without the need for an amendment to the trust. However, grantors may want to use caution with regard to just how much change can be made to a trust. Sometimes, a grant of total authority could lead to the potential for abuse.
Thankfully, most people rarely or never have to call 911 for a medical issue. Surprisingly, a woman that lives in Washington, DC has made use of the 911 system no less than 266 times in the last year. City officials have filed a petition to have a legal guardian appointed for the woman in an attempt to curb her use of that system.
Washington, DC celebrity followers may remember that Farrah Fawcett died in 2009 at the age of 62 from cancer. Many people use living trusts as part of their estate planning, and Fawcett was no exception. As part of her will, she bequeathed all of the artwork she owned that she put into her living trust to a university.
It may be safe to say that even a little estate planning is better than none. If a person dies without even a will or trust, the decision of who will receive what assets is made for that person regardless of what they may have wanted during life. Therefore, people in the District of Columbia that want to have the power to decide where their assets will go upon death will need to do some estate planning.