203-661-6000

170 Mason Street, Greenwich, CT 06830

Subscribe to this list via RSS Blog posts tagged in Irrevocable Trust

Metro New York area Estate Planning attorney

Many people equate estate planning with creating a last will and testament. While a will can certainly be a useful estate planning tool, several other estate planning instruments may also benefit you and your loved ones. Trusts are commonly used to transfer assets without needing to go through the probate process. Trusts are especially beneficial for individuals with minor children or wish to leave an inheritance to someone with a disability. Utilizing trusts in your estate plan can also help you protect assets from creditors and minimize estate taxes.

How a Revocable Living Trust May Benefit You and Your Family

There is a trust for almost every estate planning objective a person can have. However, most trusts fall into two main categories: revocable trusts and irrevocable trusts. A revocable living trust is a trust that you establish during your lifetime and use to transfer assets to heirs upon your death. You maintain control over the property in the trust until you pass away. At this point, your successor trustee takes control of the assets and manages the distribution of those assets. Living trusts are revocable or adjustable. Assets transferred through a living trust do not have to pass through probate, meaning that the assets are transferred to beneficiaries more quickly than assets transferred through a will. 

...
today cnn on the record E larry dr phil fox friends dateline
Back to Top