Elder Law And Estate Planning Attorneys You Can Trust
Trusts are a powerful tool for estate planning, but many people misunderstand how they work. There are several myths surrounding trusts that can lead to confusion. In this post, we’ll address some of the most common misconceptions about trusts in New York. Trusts are...
Some people draft simple wills as the sole testamentary instruments used for their estate plans. Other people who have complex family circumstances, medical challenges or sizable personal holdings may choose to establish trusts. Many people take steps to fund living...
An irrevocable trust is a legal arrangement that allows you to transfer ownership of assets to the trust. Once transferred, these assets legally no longer belong to you and will eventually pass to a beneficiary according to the conditions you dictate. This separation...
Creating a living trust is a significant step in planning for the future, but it is only effective if you follow through by funding it. Many people establish living trusts but overlook the important step of transferring assets into them. By understanding the...
Charitable remainder trusts (CRTs) offer a way to protect assets while supporting charitable causes. These trusts provide a unique opportunity to balance philanthropy with income generation. Understanding how CRTs work can help individuals make informed decisions...
A dynasty trust is an irrevocable trust that provides long-term financial security and asset protection for multiple generations of a family. This trust allows people to transfer wealth to future generations while minimizing estate taxes and maintaining control over...
In the realm of financial planning, the concept of control often takes center stage. One powerful tool that empowers individuals in this regard is the living trust. Unlike a will, a living trust allows you to maintain a firm grip on your assets during your lifetime...
The Center on Budget and Policy Priorities reported in 2023 that half of the wealthiest Americans use trusts to reduce taxation. While this is one use for trusts, they can be incredibly beneficial, making them well worth considering as part of your estate plan....