Living Trusts Attorney In New York, NY
What Is A Living Trust?
Living trusts are estate planning tools you can create and fund while you are still alive. This is different from a testamentary trust, which is created through a will and generally does not take effect until after death. For many New Yorkers, a living trust can be a practical way to organize assets, provide for loved ones, and reduce the time and expense associated with probate court.
With a properly drafted living trust, you can often maintain control of the assets during your lifetime—managing them much like you would if they were still held in your individual name—while also putting a clear plan in place for how those assets should be handled in the future. William (Bill) Simon can help you determine whether a living trust makes sense for your situation and guide you through the process of creating one as part of a complete estate plan. Contact McGarry & Simon today to schedule a consultation.
Call McGarry & Simon at 347-808-2508 to schedule a consultation with a lawyer today.
What Benefits Do Living Trusts Provide to My Heirs?
A living trust can be an effective way to provide for your children or other beneficiaries while helping them avoid the delays and expense of New York probate court. Probate can be time-consuming and paperwork-heavy, and it often becomes even more difficult when heirs live out of state or have busy schedules and limited ability to manage court requirements.
By placing certain assets into a properly prepared trust, you can create a smoother process for transferring property and managing distributions after your passing. In some situations, a trust may also help reduce costs and tax burdens, making it easier for your loved ones to focus on what matters most during a difficult time.
Bill Simon helps New Yorkers evaluate whether a living trust fits their goals and can prepare the documents needed to create a plan that protects your legacy. Contact McGarry & Simon today to schedule a consultation.
Does a Living Trust Benefit Me Now?
In addition to allowing you to maintain control over the assets you place into the trust, a living trust can also help protect you if you become ill or unable to manage your affairs. Without a living trust or properly prepared power of attorney documents, your family may be forced to go to court to obtain the legal authority needed to handle financial matters on your behalf. That can create delays, added stress, and unnecessary expense.
With a living trust, you can name a trustee—often a trusted family member or close friend—to step in and manage trust assets if you become incapacitated. Many living trusts are also revocable, meaning you can update the terms or cancel the trust entirely as your circumstances change. For many New Yorkers, a living trust is one of the most practical ways to ensure that trusted people can manage assets smoothly if the unexpected happens.
Bill Simon can help you determine whether a living trust is right for your estate plan and prepare the documents needed to protect your future. Contact McGarry & Simon today to schedule a consultation.
Have Questions?
Call McGarry & Simon at 347-808-2508 to speak with an attorney and take the next step toward protecting your family and your future. Schedule a consultation today and gain peace of mind knowing your wishes are documented and your loved ones are protected.