Using A Revocable Trust To Protect Your Loved Ones And Your Legacy
Trusts are powerful legal instruments that allow individuals to assert control over their legacy while looking after their loved ones in the future. In New York, there is no “one-size-fits-all” trust that can be used indiscriminately. Your goals and concerns are unique. The trust you create should meet your needs.
At Corash & Hollender, P.C., our attorneys have the insight required to identify the legal tools that will help you accomplish your objectives. For over 45 years, individuals and families throughout Staten Island have benefited from the discerning estate planning counsel that we provide. We are equipped to create a range of trusts for you, including revocable, irrevocable and supplemental needs trusts.
The Benefits Of A Revocable Trust
Both irrevocable and revocable trusts can be used to shelter assets and property from creditors, lessen tax obligations and establish financial safeguards for spendthrifts. However, if you put your funds and property into an irrevocable trust, you cannot change the provisions in this type of trust. This situation could be problematic if your family’s structure or circumstances change.
A revocable trust may offer you the flexibility you desire. You may benefit from a revocable trust if you wish to change your beneficiaries, are recently divorced or are engaged to be married again. Having the freedom to amend your trust can give you the peace of mind that your legacy will be well-protected.
There are many estate planning attorneys throughout the area, but few are qualified to create trusts – and for good reason. New York’s trust laws are complicated, and it can be time-consuming to establish a trust. Our attorneys are intimately familiar with the trust creation and administration process, so they are able to complete these tasks in a timely manner.
Contact Us To Get Started
Our attorneys are ready to assist you whether you have questions about your options or need advice on an elder law matter. Please complete our online form or call us at 718-691-1669 to reach a seasoned legal professional. We offer free initial consultations, so you have nothing to lose by speaking with us.