Our attorneys here at Ettinger Law Firm specialize in all areas of estate planning, including living trusts to help you plan for your future. Our team can work with you to create a comprehensive estate plan and living trust that meets the needs and goals of you and your family.
We have decades of experience helping clients create living trusts throughout New York and will help you build a plan to protect your assets and legacy.
A living trust is a legal entity created to protect an individual’s assets, such as money or property, and determine who or where these assets will be allocated after their death. Living trusts were designed to allow for easy distribution and transfer of these assets to the chosen beneficiaries. When an individual dies and has created a living will, the distribution process is simplified, bypassing the often complex legal process known as probate.
There are various benefits to having a living trust created for you, including:
There are two main types of living trusts that your trusts lawyer will recommend for you:
A living trust is similar to a living will, but they are not the same. A living will is a legal document that grants someone Power of Attorney and rights to make decisions on their behalf, should they become incapacitated or lose the ability to express informed consent. On the other hand, a living trust is a legal entity created to hold the grantor’s assets and details how they are to be distributed after their death.
Whether you need a simple trust made to protect a few key assets or a more specialized one for your estate plan, our New York trust attorneys can help you. The team of New York estate planning attorneys at Ettinger Law Firm has more than 35 years of experience creating and handling living trusts for their clients. We will work with you to determine the best living trust for your needs and wishes and guide you and your loved ones through every step of the process.
On average, it will take about two to four weeks for your trust to be set up and in place and then another few weeks to six months to fully fund the trust. In the case of a terminally ill client, the process can be expedited. When you work with a trusted living trusts lawyer, they will ensure no detail is overlooked and that the process is kept on schedule.
Anyone who owns property and has assets can benefit from creating a living trust. Living trusts help ensure that your property stays protected and will be passed on to the loved ones of your choosing after your death. To ensure the process runs smoothly and your assets are protected, find an expert New York living trust attorney to guide you through the process.
When choosing a trustee, you want to select someone you trust and feel is reliable. Your trustee will have significant power over the decisions and distribution of your assets. Speak with your loved ones about the choice before making it official.
If you have created a living trust, it’s important to also have a will made to ensure all your assets are properly protected and distributed as you wish. A living trust will secure only the property you put into it. All the other assets you wish to be distributed to certain beneficiaries after your death can be protected with a will.
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At Ettinger Law Firm, our elder law lawyers focus on the needs of older adults in New York when protecting their families, assets and future. We recognize that many of our clients have minimal or no experience working with attorneys — our low-pressure approach enables you to make these crucial life decisions at your own pace. Trust our team to educate you and make the information you need accessible throughout the process.
Contact us today to learn more or schedule a No-Cost Consultation for elder law estate planning.
