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Weinstein, Chase, Messinger & Peters, P.C.

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Brooklyn, NY 11242

Phone: (718) 858-3100

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Estate Planning

Asset Protection

New York Wills Attorney

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Types of Trusts

Living Trusts

Glossary Terms:

QTIP Trust - A marital trust for which a federal estate tax election is made. It provides that the surviving spouse is entitled to all of the income from the trust property, to be paid at least annually.

Adverse Party - Anyone having a substantial beneficial interest in the trust that would be adversely affected by the exercise/non-exercise of their power with respect to the trust.

Corpus - The principal or funds of a trust, as distinguished from the income of a trust.

 

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THE LAW FIRM OF Weinstein, Chase, Messinger and Peters, P.C. Has New York Wills and Trusts Lawyers serving the following areas: NYC, Brooklyn, Queens, Long Island and sourrounding NY areas.

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