New York Trusts Attorney
A trust is an essential component of estate planning and asset protection. Simply put, a trust is a legal arrangement with unique terms that are to be followed by the beneficiaries that are entitled to the trust. It is usually written in a form between the settlor, the individual creating the trust, and the trustee. An agreement from a written trust ensures that the settlor (also sometimes referred to as the grantor or the trustor) will transfer certain assets to the trustee and the trustee will hold those assets for the benefit of the named beneficiaries.
Do you need more information about the types of trusts available to you? An attorney can help! Contact a New York Trusts Attorney today.
Different types of trusts include:
- The Privacy Trust
- Life Insurance Trust
- Limited Term Trust
- Estate Freeze Trust
- Qual. Personal Residence Trust
Trusts are used more and more these days. They used to only be used exclusively by very wealthy families to pass on their wealth and to maintain privacy, but they are becoming much more common now. A trust can offer a variety of benefits to anyone who is interested in protecting their assets and their estate. Depending on your situation and exact needs, there is most likely a trust that is designed to suit you. Make sure you speak to an attorney in New York to learn about the different types of trusts and which may be best for you.
Almost any estate planning and asset protection goal can be attainted by a trust due to the flexibility that comes with trusts. By utilizing creative trust strategies, the planning opportunties for achieving asset protection advantages and tax savings are endless. Trusts can be somewhat complicated without the help of an attorney, but we can help make the process become a simple solution.
Do you need more information about the types of trusts available to you? An attorney can help! Contact a New York Trusts Attorney today.
|
