As a young child, my grandparents were very involved in my life. After moving to New... more
As a young child, my grandparents were very involved in my life. After moving to New Jersey at age 2, we continued, for many years, to return to Brooklyn on weekends to visit both sets of grandparents. My paternal grandfather died when I was 12 and my Israeli grandmother, Imma, alternately lived with her 4 children for several years, until settling permanently with us. My maternal grandparents ... view profile
Attorney Laura Ann Kelly concentrates her practice in estate and trust planning and... more
Attorney Laura Ann Kelly concentrates her practice in estate and trust planning and administration as well as business succession planning for shareholders and principals of closely-held businesses. This includes addressing clients' private philanthropic goals, including structuring charitable trusts and private foundations and counselling clients on all aspects of nonprofit corporate governanc... 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.