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Trusts can be used to accomplish scores of different objectives. One very common reason many people create a trust is to simplify the administration process that occurs when people die by “avoiding probate.”
The term “living will” has entered that national consciousness in part due to high profile court battles to the determine the end of life medical treatment provided to patients. On one side of the legal battle are family members insisting that the patient would have wanted every conceivable effort made to prolong his or her life. Other family members demand that the patient would have wanted artificial life sustaining procedures withdrawn and allowed a dignified death. The one person who could settle the matter is incapable of doing so because of a comatose or brain dead condition.
According the legal resource center, LexisNexis, approximately 55% of American adults do not have a will or other estate plan in place. A recent survey conducted by Harris Poll puts the number even higher at 64% of American adults lacking a will.