Bare Trust Lawyer | Serving Royal Oak, MI
Probate Matters and Estate Administration Can Be Complex and Have High Stakes. We'll Help to Protect Your Family and Interests.
Established nearly 25 years ago, Prince Law Firm continues to be a leader in legal matters involving trusts, estates, and probate. Our goal is always, as stated by our fearless leader, attorney Patricia Gormely Prince, "to provide our clients with the best possible and most professional legal representation available." We help clients with sensitive issues, …
If you are considering setting up a bare trust to convey property to your children or grandchildren, getting the advice of a Royal Oak attorney skilled in bare trusts can help you determine if such a trust is the right tool for achieving your wishes.
In a bare trust, or simple trust, the beneficiary has the complete right to the capital and assets within the trust and the income generated by the assets. Assets of the trust are held in the name of a trustee, who must manage them to maximum the benefit for the beneficiaries. The trustee has no control over the trust's income or capital and must act according to the beneficiary's instructions. The beneficiary is entitled to take ownership and control of the trust property.
An attorney can often resolve your particular legal issue faster and better than trying to do it alone. A lawyer can help you navigate the legal system, while avoiding costly mistakes or procedural errors. You should seek out an attorney whose practice focuses on the area of law most relevant to your issue.
Affidavit - A sworn written statement made under oath. An affidavit is meant to be a supporting document to the court assisting in the verification of certain facts. An affidavit may or may not require notarization.
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