David C. Gilmore was born in Dayton, Ohio on March 28, 1952 and was admitted to the Ohio Bar in 1980 and the Florida Bar in 1981. Mr. Gilmore is a graduate of the University of... more
David C. Gilmore was born in Dayton, Ohio on March 28, 1952 and was admitted to the Ohio Bar in 1980 and the Florida Bar in 1981. Mr. Gilmore is a graduate of the University of Cincinnati with a B.A. degree in Political Science (1974), attended the University of Cincinnati Graduate School of Business (1975), and received his law degree from the University of Dayton (1978). For over 30 years Mr.... 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.