Estate Planning Attorneys Offer Many Types of Trusts
For almost four decades, KGG trust and trust administration lawyers have offered knowledgeable estate planning advice to clients in our New York and New Jersey communities. We customize our representation to suit your family’s unique situation, and stay available throughout the process to address your questions and concerns. We believe estate planning should encompass several areas, including:
- Asset protection
- Easy distribution of funds
- Security for families
- Tax minimization
What is a Living Trust?
A “living trust” (i.e., a trust created under an agreement of trust and at least partly funded during life) may be either revocable or irrevocable. Revocable living trusts are sometimes called “Will substitutes”. In some cases, it is sufficient to incorporate trust provisions into a Will, but often it is imperative to establish a separate living trust.
What Type of Trust is Right for Me?
Every situation is unique. In order to determine whether and what type of trust would best serve you, we would discuss your needs and goals. We will help you choose wisely among the available options.
There are some matters that can only be achieved by implementing an effective trust, as well as many things that are best handled through a trust vehicle. At the law offices of Kantrowitz, Goldhamer & Graifman, P.C., we can discuss the many different types of trusts and how each would affect your situation.
What are the Benefits of Trusts as Part of an Estate Plan?
The benefits of the right trust can be important to you and your family. At your initial consultation with our lawyers, we will gladly explain the estate planning roles of various revocable and irrevocable trusts, such as:
- Credit shelter and bypass trusts
- Charitable trusts
- Life insurance trusts
- Special needs trusts
- Medicaid trusts
- Revocable living trusts
- Dynasty trusts
There are other types of trusts not listed here that can also address the particular needs of your family. Consult with a KGG trust attorney for a full and clear break down regarding which trust options may be right for you.
At KGG, we emphasize the convenience and flexibility of trusts. With a trust, you can segregate assets to be managed by a Trustee for the benefit of only the individuals you designated. This can protect assets from claims by creditors or in-laws.
If your intended beneficiary is a young child or a person with a disability or a particular problem such as drug dependency, a trust may be the best way to leave them an inheritance. We can describe the pros and cons of each type of trust available to you, and recommend a trust that will best fit your needs as well as the size of your estate.
Looking for a Trusts and Estates Lawyer?
Contact our experienced estate attorneys and trust lawyers today for large-firm, full-service and quality legal work that solidifies the future financial security of your loved ones through prudent estate planning. We can be reached via email, by filling out a contact form on this site or toll free at (800) 711-5258. If you are in need of an evening appointment with our firm, we can make one available for you.