Mary Lee Moseley has 27 years of experience in estate planning and trust and estate administration, and has worked as a trusts and estates attorney in Maine, California and Washington.... more
Mary Lee Moseley has 27 years of experience in estate planning and trust and estate administration, and has worked as a trusts and estates attorney in Maine, California and Washington. She has extensive experience with complex estate planning, estate and trust administration, and IRS gift and estate tax audits. Mary Lee previously worked as a director with Deloitte Tax, LLP’s Estate, Gift and T... 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.