Woodside: 800-625-1927 Forest Hills: 866-469-3808

Queens Trust And Estate Attorney

Trusts are an important tool used by many people in their estate plan. Trusts provide flexibility and can be used to control your assets both during life and after death. Whether a trust is right for you depends upon your unique goals and wishes, your financial situation and what control you would like to have over your assets during your life. If you would like to learn more about trusts and their benefits, please speak to an experienced Queens trusts and estate lawyer at Joseph Yamaner and Associates today. They look forward to learning more about your situation and helping you create or review a strong estate plan.

Feel free to contact the Woodside law office of Joseph Yamaner and Associates online today to schedule an initial consultation. You may also call the firm at 800-625-1927 to discuss your needs for free over the phone with an experienced attorney.

Evening and weekend appointments available upon request. Joseph Yamaner and Associates provides free in-person consultations and discounted services to veterans of American wars in honor of those who serve.

Benefits Of Trusts: Experienced Forest Hills Attorneys

Properly created trusts grant their users certain benefits that are not available in wills. For example, certain trusts can:

  • Avoid probate
  • Shelter assets from tax collection services or creditors
  • Protect a person's privacy
  • Care for disabled children
  • Provide for charitable contributions

Revocable vs. Irrevocable Trusts

Two types of trusts are the most common and most well-known: the (i) revocable or "living" trust and the (ii) irrevocable trust. The differences between these two tools are:

  • Revocable trusts: A person has the ability to change a revocable trust at any point up until his or her death. This gives a person the flexibility to change certain provisions if his or her needs or desires change throughout his or her life. The assets in a revocable trust, however, will be considered personal assets and will be available to creditors and factored into estate tax obligations. These trusts become irrevocable upon death.
  • Irrevocable trusts: Irrevocable trusts are exactly what the name entails — irrevocable. They cannot be changed after they are created. They offer significant financial benefits, however, including removing property from the estate to reduce tax obligations. All property in an irrevocable trust is no longer considered a person's property, so any assets placed in the trust cannot be reached by creditors.

Contact A Sunnyside, New York, Family Trusts Lawyer

Feel free to contact the Woodside law office of Joseph Yamaner and Associates online to schedule an initial consultation. You may also call the firm today at 800-625-1927 to discuss your needs for free over the phone.

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