When you create a trust, you must pick a trustee to manage the assets. The trustee has a duty to manage the assets for the benefit of the designated beneficiaries, and this can be a serious responsibility. Depending on the terms of your trust and the assets involved,...
New York parents building an estate plan should not overlook one important piece, which is setting up a guardianship for their children. Guardianship allows someone to take legal responsibility for children if neither parent is available. As your child’s parent, you...
Trusts are very useful estate planning tools because, among other qualities, they are adaptable to many purposes. Many people set up a trust to go into effect only upon their death, like a will. But you can also set up a trust to go into effect during your life. If...