Jeremy W. Prince is a member and partner of Edwards and Prince. His practice includes Corporate and Business Law, Commercial/Business Litigation, Trusts/Estate Planning/Probate,... more
Jeremy W. Prince is a member and partner of Edwards and Prince. His practice includes Corporate and Business Law, Commercial/Business Litigation, Trusts/Estate Planning/Probate, Corporate & Business Taxation and Personal Taxation. Jeremy obtained his Master of Laws in Taxation of Alabama and his Juris Doctor Degree at Mercer University Walter F. George School of Law. Prior to law school, Jerem... 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.