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Greenlake66

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  1. My sister and I are working with an attorney and mediator to draw up an irrevocable trust that will satisfy both of us. My parents are both alive but living in a memory care unit - dad has Alzheimer's and mom has dementia. Needless to say, old family issues have surfaced in trying to create a trust in which I can "trust" my sister. She has POA with my parents and we have disagreed on many things including my parents care. I should mention that we live in different states, 3000 apart - she lives in the same town as my parents. We had a conference call today with the attorney, a mediator and my sister and brother-in-law. The "solution" they found is to create two separate trusts - one is which I am the trustee for my mother, the other in which my sister is the trustee for my father. While this seems very unconventional to me, I don't know what the potential risks of setting up the trust/trusts in such a way would be. Can anyone comment as to whether this is anything they have ever seen take place in the establishment of a trust?? Thank you.
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