What is a Trust?

A trust is an estate planning tool. It is a document in which a person transfers legal ownership of property to a Trustee for the benefit of some beneficiaries. The Trustee must manage the property according to the terms outlined in the trust.

It may be helpful to think of the terms of the Trust like a bowl. Anything that is placed inside of the bowl must follow the instructions of the Trust. The Trustee is in charge of managing the assets inside of the bowl.

How does trust administration work?

When someone creates a trust, they will often also serve as the initial trustee of that trust. If the initial trustee becomes incapacitated or dies, it is often necessary for another person to take control of the trust. The person who takes over control of the trust is called the successor Trustee.

The successor Trustee has certain duties and responsibilities to the beneficiaries of the trust. These duties and responsibilities will vary, depending on the terms of the trust.

how can gapinski law, llc help me?

I can represent you as the Trustee of a trust and help you to fulfill your duties and responsibilities to the beneficiaries.

I can represent you as a beneficiary of a trust and protect your legal rights.