For the past 10 years, I have enjoyed practicing Elder Law and educating my clients... more
For the past 10 years, I have enjoyed practicing Elder Law and educating my clients on the options they have to control and improve their lives. My Elder Law Services include: Protecting Assets and Qualifying for State Paid Private Nursing Home Benefits Preparing Estate Plans (Wills, Trusts; Powers of Attorney) Navigating Probates Through the Court Procedures and Accounting... 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.