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Mrs. DeRossette graduated from The University of Mississippi in Oxford, Mississippi, where she received her Bachelor of Arts degree. She then attended The Mississippi College School of Law where she received her Doctor of Jurisprudence degree. Whi...
Practice areas: Trusts, Estate Planning, Medicaid & Medicare, Elder Law, Probate
Elizabeth Wynn is a partner with Howell Kyle & Wynn, PLLC. She has worked exclusively in the elder law field since she began her legal career. She prides herself with the ability to provide her clients with the personalized attention, care, accur...
Practice areas: Trusts, Medicaid & Medicare, Estate Planning, Elder Law, Probate
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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.