Trust

When it comes to estate planning, a trust agreement is one of the most commonly integrated components in a well thought out estate plan. If you are considering incorporating a trust into your estate plan, you likely have numerous questions regarding trusts and their associated advantages. A key concern may revolve around your capacity to maintain control over assets once they have been transferred into a trust. To provide insight into how a trust aligns with your estate plan and what happens to …

A living trust is a very popular estate planning tool, in large part because there are so many estate planning goals and objectives that can be furthered using a living trust. Once a trust has been established, however, there may come a time when the desire to revoke or terminate the trust arises. To ensure that a revocation or termination is handled properly, you should work with an experienced New York estate planning attorney. To give you an idea of what is involved, however, the Long Island …

Whether you are a new parent or the parent of adult children, you undoubtedly want to protect the inheritance you intend to leave for your children.  Establishing a trust is the most popular way to accomplish this common goal. To ensure that the trust works as intended, you want to avoid making mistakes when setting up the trust. To help you, the Long Island trust attorneys at Eghrari Law Firm explain trust creation mistakes parents often make. Avoid These Trust Creation …

Estate planning for a married couple with children is usually fairly simple. If you divorce and remarry though, estate planning becomes more complicated. With a blended family you need to protect your new spouse and your children from your previous marriage in your estate plan. One tool that is often used in an estate plan for a blended family is a specialized type of trust known as a Qualified Terminable Interest Property, or QTIP, trust. To better explain, the Long Island trust attorneys at …

Many people choose to include at least one trust in their comprehensive estate plan. If that includes you, one of the most important decisions you will need to make when creating your trust is whom to appoint as your Trustee. In addition, you will need to decide how much discretion your Trustee will have. With that in mind, the Long Island trust administration attorneys at Eghrari Law Firm discuss how much discretion your Trustee should have. Trust Basics A trust is a relationship whereby …

For anyone with considerable assets, asset protection should be a primary estate planning component. After all, taking the time to decide how you want your estate distributed after you are gone is only important if there is an estate left to distribute. While there are numerous estate planning tools and strategies that can help protect your assets, one common tool is an Intentionally Defective Grantor Trust (“IDGT”). Do not let the name fool you. There is a perfectly good reason for …

If you recently learned that you were appointed to be the Trustee of a trust, and this is the first time you have served as a Trustee, you probably have questions and concerns. At the top of your list of concerns may be the possibility of being held personally liable if you make a mistake. The Long Island trust administration attorneys at Eghrari Law Firm when and why a Trustee could be held personally liable during the administration of a trust. What Does the Job of Trustee Entail? The …

A Last Will and Testament will likely serve as the foundation of your initial estate plan. As both your family and your estate grow, however, your estate plan should grow with them. Additional estate planning tools and strategies will be incorporated into your plan to ensure that all your estate planning goals are met. One of the most common tools is a trust. If you decide to include a trust in your estate plan, you should work with an experienced trust attorney during the creation of the trust. …

Although a Last Will and Testament remains the most common estate planning tool, trusts have steadily increased in popularity over the last several decades to the point where it is now very common to find one in the average estate plan. There are numerous different types of trusts that help achieve a wide variety of estate planning goals. One thing that all trusts have in common, however, is the need to appoint a Trustee to administer the trust. To help ensure that you make the best choice, the …

When you are making your estate plan or your asset protection plan, you may need to decide if you should create a revocable living trust.  There are lots of misconceptions about what a revocable living trust can do for you or who should create this type of trust so it is important to work with an experienced attorney to understand what the purpose of this trust type is and why you may want to create one.  Eghrari Law Firm can help you to determine if a revocable living trust is right for you …

Smithtown trust attorneys at Eghrari Law Firm  can provide you with assistance making certain your disabled child is provided for. If you have a child with a disability, you know that you will likely need to provide your child with some degree of financial support for the rest of his or her life -- even after you pass on. However, you need to be strategic about how you provide for your child with a disability to avoid losing access to means-tested benefits or to avoid other problems that could …

If you want to terminate a trust, you need to work with an experienced attorney to understand the steps that you may need to take. Eghrari Law Firm  can provide help with the process of terminating a trust and can assist you in handling a wide variety of other legal issues related to trust creation, funding a trust or terminating a trust.  Making the decision to terminate a trust can be a big deal because you will lose the protections that the trust is able to provide to you. You should not …