MICHAEL D. DEZIK, Esq. practices in the areas of estate planning and administration,... more
MICHAEL D. DEZIK, Esq. practices in the areas of estate planning and administration, long-term care planning, elder law and special needs estate planning and administration. Michael is a graduate of Albany Law School and earned his undergraduate degree from the State University of New York at Buffalo where he graduated cum laude. Michael is the secretary of the Board of Directors of the Est... 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.