How Trusts Can Customize Your Estate Plan
Many people want to do more than simply leave their assets to others after death. They wish to have further control over when and how assets are distributed. Trusts can achieve these goals, as well as:
- Help avoid probate for most or all of an estate
- Save on inheritance taxes, in some cases
- Facilitate a smoother and less expensive transfer of assets
Meier Law Firm, PLLC, in Latham is available to help you design a truly personalized estate plan by incorporating trusts. A trust may be incorporated into a will (testamentary) or it may be a stand-alone document (inter vivos). It will clarify how assets are to be transferred, to whom and when.
Irrevocable And Revocable Trusts
Trusts are used for many reasons including asset preservation, ease of transition between trustees, consolidation of assets, estate tax minimization and probate avoidance purposes. Trusts can be revocable or irrevocable. The best trust for the client is dependent upon the needs and goals of the client and his or her family.
Other examples of trusts we help many clients with are:
- Testamentary trusts
- Trusts for minors
- Trusts for blended families, taking into account the use of assets for the lifetime of a surviving second spouse as well as inheritance intentions for each spouse’s children, including those from previous relationships
We Are Here To Talk To You
For many people, estate planning involves both businesslike arrangements and the emotions associated with close family relationships. Discussions about intentions codified by wills, trusts, power of attorney, health care proxy and living will can include private and personal topics. At Meier Law Firm, PLLC, our clients compliment us on the warmth and confidence they feel when talking over their assets, intentions and legal solutions with our attorneys. We take pride in making clients relax in comforting surroundings while learning about and designing wills, trusts and other estate planning documents.
Our Clients Say We Are Honest And Practical
If you work with one of our New York attorneys to buy or sell real estate or to create trusts and design a comprehensive estate plan, you can count on us to communicate clearly, in plain English. We want you to understand your options as well as the solutions you select and how they will work. We also pledge to tell you what you need to know even if it is not what you expect to hear.
Contact Us To Get The Discussion Underway
Learn more about real estate transactions, trusts, wills, powers of attorney and other estate-related matters. Schedule a consultation with a lawyer by calling 518-313-0249 or sending an email inquiry through this website.