Mara Mara Law / Daytona Lawyers - Wills & Trusts /

Daytona Attorneys - Wills & Trusts

Trusts:

Another important thing to consider which our Daytona Attorneys could help you with is a Trust. A Trust is a relationship in which property is managed by an individual, group of individuals or organization for the benefit of another. The individual, group of individuals or organization that creates the trust is called the “settlor”. The settlor entrusts some or all of its property to others called “trustees”. Although the trustees hold legal title to the property, the trustees have what is called a fiduciary duty to hold the property for the benefit of one or more individuals or organizations called beneficiaries. A fiduciary duty essentially means that the trustee needs to consider the needs of the beneficiaries and not the needs of the trustee when making decisions regarding the trust. The settlor specifies in the trust documents who those beneficiaries are, and the beneficiaries have what is called equitable title to the property. The trustee is obligated to administer the trust in accordance with the terms of the trust document and governing law. If a Trust is a good fit for your needs our Daytona Attorneys can help you with it.



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