Attorney Phil Rarick has thirty years of experience in both private and public legal... more
Attorney Phil Rarick has thirty years of experience in both private and public legal work. He previously served as counsel to the National Association of Attorneys General. Mr. Rarick concentrates in the fields of estate planning (wills and trusts), asset protection, probate, and corporate law. Integrated asset protection with an estate plan designed to protect wealth and secure tax advan... 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.