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DNR or Full Code for Resuscitation?

Aging Well | Last Active: 5 hours ago | Replies (41)
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Profile picture for rollingf @rollingf

I discovered a way to beat the tax system. I had a lawyer create an revokable trust and turned all my assets over to it. When I die, the trust becomes non revokable according to MN law. I also updated my will and the off spring who can participate in the estate trust. Recently, we copied all of the documents--will trust, DNR/DNI. cover letter expressing my wishes to memory sticks and sent them to all. 5 of 6 of my children, thanked me for the info. The 6th one has become an outsider and a real PITA (pain in the ...) My lawyer has updated copies. Mayo Clinic has the updated DNR/DNI document.
The process for creating and updating all of the paperwork is important and necessary. Everyone should--I think MUST--do this task.

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Replies to "I discovered a way to beat the tax system. I had a lawyer create an revokable..."
gloaming | @gloaming | 4 days ago

@rollingf I agree. It's your last chance, post mortem, to have an influence on those left behind, loved and unloved. Lovable and detestable. Better make it good 'n sober, ideally useful, foolproof, comprehensive, and final. Kind would be nice. 😀

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blm1007blm1007 | @blm1007blm1007 | 2 days ago

@rollingf A friend had a Trust and either the lawyer or the Grantor failed to fund the Trust. Funding the Trust means putting those assets one has, like real estate, in the name of the Trust by way of a deed .....stating the asset is part of the Trust.

The other thing that they did not do was file the Memorandum Page with the state.
There are many things to be sure one fully knows and understands.
I find that our working through doing the actual tasks ourselves and researching the matter allows for better thoughts, better preparation with an attorney and the legal paperwork itself. Trying to do the tasks helps to think through the entire matter fully. It does require time to do so and that can be hard to come by.

A Revocable Trust, from my understanding does not protect one from inheritance taxes, and taxes in general. My understanding is that a Trust helps eliminate probate. Is that your understanding.

Also, have you ever walked through a nursing home that dedicates the facility to Medicaid patients? A Medicaid Nursing Facility.
Barbara

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