Trust Lawyer in New York
Creating a Trust
Trusts are a part of estate planning that can either supplement or replace a client's last will and testament. With a trust, the creator can manage their property during their lifetime. After death, a trust is used to distribute property according to the terms of the document. Trusts are useful tools for estate planning and our firm can help you determine whether it is necessary in your case.
Contact Novick & Associates, PC for legal help establishing a trust.
How can a trust benefit my family?
By establishing a trust, you are able to ensure that your assets are properly managed for the future and accurately distributed to family members. Assets held in a trust are used to pay for expenses for the designated beneficiaries.
Trusts can also be used to avoid the probate process. Probate is very complex, especially when the decedent's assets are not organized in a trust or last will and testament. When you transfer ownership of your assets to a trust, it can remove them from your taxable state, which will decrease your federal and state estate taxes.
Types of Trusts
Trusts can take several different forms that serve distinct purposes.
Some of the trusts that our New York estate planning attorneys can help you create include:
- Living trusts
- Revocable trusts
- Irrevocable trusts
- Charitable remainder trusts
- Asset protection trusts
- Supplemental needs trusts
- Animal companion trusts
- Inter vivos trusts
Trusts can help you and your loved ones accomplish the following:
- Name a successor trustee
- Distribute assets to loved ones without probate
- Protect assets from creditors
- Dictate how your assets are distributed
If you would like to learn more about trusts and the other available estate planning services that our firm offers, contact our lawyers at your earliest convenience. We provide customized wills and trusts that are unique to your needs and are also available to
litigate estate disputes.
Schedule a case evaluation today to ensure that your loved ones are protected!