Is there any way to set up a self-managing Trust for someone who may have memory issues later on?
I’m not sure if something like this even currently exists. There’s a lot to unpack so bare with me;
Say Bob has reason to believe his memory will be failing him spectacularly very soon (A few years) By ‘memory failing’ I mean he will forget who he is and possibly all that makes Bob “Bob”. No one believes Bob, not even doctors, but Bob is absolutely sure this will be happening.
Is there some sort of savings account Bob can open right now as a contingency plan to him forgetting himself? Is there some sort of Trust that self-manages itself (Is not overseen by anyone that can potentially steal from or even see it) that perhaps runs off of an SS number? Perhaps an account of CDs that constantly renew and somehow deliver some of the interest to Bob in some way?
Does this or anything like this exist yet?