I have been practicing law for approximately 28 years, the majority of which I have... more
I have been practicing law for approximately 28 years, the majority of which I have focused on estates, trusts and the representation of fiduciaries. As a result of the diversity of assets in the matters on which I have been counsel or fiduciary, I have from time to time been involved in complex real estate matters, managed substantial portfolios, drafted pre and post-nuptial agreements,... 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.