 |
A trust is an arrangement in which the title to property is held by one party, the Trustee, who is required to use that property for one or more other parties, the beneficiaries.
|
A trust created during one's lifetime is called a
"grantor" or "living trust." If a trust takes effect upon one's death,
it is called a "testamentary trust."
Every trust requires a trustee
to manage and safeguard its assets. Many times a named trustee has no
idea of what his duties are, how much time it will require and the
financial risks he is taking on.
Jerome is a former Chapter 7,
Federal Bankruptcy Trustee in the Middle District of Florida, employed
by the United States Bankruptcy Court. He was charged with
handling some 60 new cases per month and administering a large dollar
volume of debtor assets.
As an experienced trustee,
Jerome currently manages a number of trusts. He offers administrative
services as a sole trustee or cotrustee for family trusts, irrevocable
life insurance trusts and special needs trusts. He also prepares, as
required, Crummey Letters, annual accountings and income tax returns.
