The Paton Law Firm, LLC is an Estate Planning law firm in Bergen County, NJ that offers the service and knowledge needed to create the estate plan you want. We work in the areas of... more
The Paton Law Firm, LLC is an Estate Planning law firm in Bergen County, NJ that offers the service and knowledge needed to create the estate plan you want. We work in the areas of business law, commercial transactions, real estate law, and trust and estate planning or administration. We realize the importance of fully understanding the law. Therefore, we hope to simplify that often confusi... 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.