At Elder Law Firm, we devote ourselves to family law and estate and legacy planning. Our experienced team offers unique and custom planning tools for families in the Birmingham... more
At Elder Law Firm, we devote ourselves to family law and estate and legacy planning. Our experienced team offers unique and custom planning tools for families in the Birmingham metropolitan area. With that in mind, our mission is to develop long-term relationships with our clients to fully understand their specific needs; collaborate with their financial professionals to craft the most appropri... view profile
A trust is an arrangement whereby someone owns and manages money or property for another person's benefit. Like a guardianship, a trustee has decision-making authority over the trust property, but no court is involved in the trustee's action–the person who creates the trust defines the scope of the trustee's power. There are many different trust types, including probate trusts, income trusts, spendthrift trusts, and educational trusts. For example, a living trust allows you to manage your property while you are alive and to direct who will manage it if you become incapable of doing so. In essence, you choose your own “guardian” in advance and avoid having the court do it for you. A trust attorney reviews the many reasons for establishing a trust with you, and can ensure your trust will be legally valid.