DANIEL DEL COLLO, III, Esq., focuses his practice in the area of Wills, Trusts, Estates and Medicaid planning. Dan graduated in 1997 from Haverford College with a B.A. in Philosophy... more
DANIEL DEL COLLO, III, Esq., focuses his practice in the area of Wills, Trusts, Estates and Medicaid planning. Dan graduated in 1997 from Haverford College with a B.A. in Philosophy and a concentration in Bio-Chemistry. He earned his law degree in the evening program at Rutgers School of Law - Camden while also working full time at GlaxoSmithKline Pharmaceutical Company in Philadelphia, Pa.... 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.