Jeffry R. Burton is an of counsel attorney in Durham Jones & Pinegar’s Ogden office. Mr. Burton’s practice currently focuses on estate and business planning. Prior to joining the firm,... more
Jeffry R. Burton is an of counsel attorney in Durham Jones & Pinegar’s Ogden office. Mr. Burton’s practice currently focuses on estate and business planning. Prior to joining the firm, Mr. Burton represented a variety of individual and business clients in a private general law practice for over 35 years. Mr. Burton has also been active in private real estate business management for over 30 years.
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.