Reason number 2 why you should have a living trust. (Reason #1 of course is to avoid probate of your estate at death.) Reason #2 is a living trust implements your asset management plan taking effect upon your incapacity. When you are incapacitated, your chosen successor trustee steps in to manage your living trust assets. The new trustee follows your written instructions and applies all trust income and assets for your benefit. What's the alternative to a living trust upon your incapacity? An expensive court-supervised conservatorship. Or a boilerplate and often flimsily drafted financial power of attorney that doesn't provide any instructions. In most cases, those alternatives simply can't compare to the ease and effectiveness of a living trust. Jon Primuth of Primuth, Driskell & Terzian LLP.