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This includes a requirement that the trustee never places their interests about those of the beneficiaries. Protections if You Become Incapacitated – A living trust can also protect your beneficiaries and assets if you become incapacitated. A successor trustee, selected by you, can assume control of the assets and administer them as outlined by the trust documents. What is an old debt called? Time-barred debt is money a consumer borrowed and didn’t repay but which is no longer legally collectable because a certain number of years have passed. Time-barred debt is also known as debt that is beyond the statute of limitations. I need awesome attorneys estate around 92881. Passionate Trust Based Asset Protection Law Firm. I need brilliant attorneys living trust near 92883. Consequently, some states have created statutory exceptions to this general rule that allows people to utilize particular types of trusts to create asset protection for their assets. These are known as “Domestic Asset Protection Trusts” or “DAPT’s.” However, California Probate Code Section 15404 explicitly states that it is against the state’s public policy to recognize DAPT’s. I am lookIng for amazing trust lawyer nearby corona heIghts, corona ca. Filing the Will initiates the probate process. The probate process is a court-supervised proceeding in which the authenticity of the Will left behind is proven to be valid and accepted as the true last testament of the deceased.