Trusts Can Aid Those With Mental Illness

Trusts Can Aid Those With Mental Illness
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The Associated Press
Updated:
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More than 50 percent of Americans will be diagnosed with a mental illness or disorder during their lifetime, according to the Centers for Disease Control and Prevention. Chances are, some of these individuals will be inheriting wealth at some point.

If a family member’s mental health issues may interfere with their ability to manage finances, answering these questions could help them create long-term financial stability.

Have I Set Up a Trust?

Setting up a trust is one way to transfer wealth to a loved one and create financial stability for them. A trust enables you to leave specific instructions for trustees about how to care for your loved one and distribute assets.