Trusts are not ‘all that’ either. We have been in court going on 3 yrs now about one.
Once father in law started getting dementia hubby’s sister took FIL down and had him change the trust putting her in charge of everything. She then had him declared incompetent and stole every dime. We got her last accounting the other day. Over $700 thousand dollars and she says that the estate is broke except for a $150k house and when that is sold the estate owes her $7200. In 2 1/2 years.
No legal instrument can guard against undue influence over
a confused elder. Unless a trust is set up as irrevocable the
person creating it can always change it....and NO method
of transferring wealth and assets is guaranteed perfect.
Trusts however are usually superior to wills.