Trusts Can Streamline Lifetime Or Postmortem Asset Transfers
Whether you are looking to distribute a few assets through a simple will, or require sophisticated high net worth planning, the Law Offices of Irina Yadgarova PLLC is a law firm fully equipped to effectively service all of your estate planning needs. Our team of CPAs, certified financial planners and other financial and estate planning professionals can guide you in making the right decisions for you and your loved ones.
Many people aim to help beneficiaries avoid probate by creating trusts. This can be a powerful estate planning strategy. Trusts such as the following can be incorporated in a will:
- Revocable living trusts that can be changed during one's lifetime
- Irrevocable trusts that typically cannot be changed once set up
- Special needs trusts
- Generation-skipping trusts
- Charitable remainder trusts
- Domestic asset protection trusts
- Marital trusts
- Disclaimer trusts allow a surviving spouse to disclaim ownership of a portion of the estate and thereby not be taxed on that portion
Trusts Complement Wills Rather Than Replacing Them
Whether or not trusts are included, everyone should have a will as an essential foundation of an estate plan. A will clarifies distribution of assets, both those governed by trusts and any additional assets. Probate is not always something to avoid; it can be critical to settling financial affairs after death. Assets not titled to trusts may include final income tax refunds or proceeds from lawsuits. These assets require a will for proper accounting and disbursement through the probate process.
For Reliable Counsel And Assistance Setting Up A Trust, Contact An Estate Planning Attorney At The Law Offices Of Irina Yadgarova
Located in the neighborhood of Rego Park within Queens and elsewhere in New York City, the Law Offices of Irina Yadgarova is a valuable resource for people in need of estate planning counsel and services. Our depth of experience handling complex to simple estate plans offers distinct benefits to our clients. Our lawyers offer free initial phone consultations with no further obligation. Call 347-699-5LAW (5529) or send an email to schedule your consultation regarding any related matters.