PSA: revocable trusts/living trusts are about incapacity planning.

I keep seeing commentary (largely financial advisors) saying people don't need a revocable trust because you can avoid probate with beneficiary designations, joint accounts, etc.

thread:

The avoiding probate part is true.

But, that's not what makes revocable trusts so useful for US residents and citizens.

Property in the trust is informally (i.e. no court) managed when you become incapacitated. That avoids a conservatorship (sometimes called a guardianship of the estate).

A conservatorship is typically far worse than probate, because you are alive for a conservatorship and dead for a probate, among other reasons.

Now you know.