Some people in New York may wonder whether a revocable or irrevocable trust would be best for their estate plan. In most cases, a revocable trust, which remains in the creator's control, is sufficient for keeping the assets out of probate so they can pass quickly and...
Trusts can act as useful protection for assets, especially ones that need distributing after a person's death. When the time comes to handle those remaining assets, the successor trustee has the responsibility of following instructions involved with administering the...
Planning is a good thing. Not everyone likes it, but in the face of the inevitable and to ensure that assets representing one's legacy continue to serve the well-being of intended beneficiaries, few can dispute the value of the proposition.The problem is that the best...
Trusts come in a wide range of styles. There are revocable trusts, irrevocable trusts, even incentive trusts, which we wrote about in a post some time ago. This is not a complete list of trust tools available under New York estate planning law. The one that might be...
When most people think about estate planning, the document known as a last will and testament likely comes to mind. While a will can be used to convey one's wishes with regard to the ownership of personal belongings and the disbursement of assets, a trust is typically...
Gone are the days when a couple married during their early 20s, welcomed and raised children together and lived out the rest of their lives together. Today, with the U.S. divorce rate hovering around 50 percent, familial structures within the U.S. are more complex...
