If someone you love has passed away and had created a trust, you should talk with a trust administration lawyer about the process that must occur. Mark S. Eghrari & Associates PLLC provides representation to all interested parties during the trust administration process.Our legal team can help those who wish to create a trust to ensure that the trust document is comprehensive and is prepared in accordance with NY law. We’ll also help to ensure the right type of trust is selected so you can … [Read more...] about How can a trust administration attorney help you?
If you pass away and transfer assets through a will, there is a possibility that someone will contest your will and your wishes for the distribution of your assets will not be respected. Avoiding the possibility that a will is going to be contested is one possible reason that you may wish to create a trust. While it is possible for a trust to be contested, it is much less likely that someone will be able to successfully argue that a trust is not a true reflection of your wishes.When you … [Read more...] about Can someone contest a trust?
When you create a living trust, you can name yourself as the trustee during the course of your lifetime. When you act as the trustee for your living trust, you are in control of the trust assets. However, you also need to name a living trust successor trustee. The successor trustee is a person who you select to take over management of trust assets when you are no longer able to do so because you have become incapacitated or passed away. The successor trustee is responsible for the trust … [Read more...] about What is a living trust successor trustee?
After you pass away, someone must administer the living trust. You will choose the person who will administer the living trust, so you can pick any adult who you are confident will be able to effectively manage trust assets and facilitate the transfer of those trust assets to new owners.You make your choice of who should administer your living trust when you create your trust, which involves working with an experienced attorney to write a trust declaration or trust document. Within the trust … [Read more...] about Who administers a living trust when you pass away?
Trusts provide many significant advantages, both to the creator of the trust as well as to designated beneficiaries who a trust was created in order to provide for. Trusts can help to protect assets in case of incapacity, for example.One of the biggest benefits to the creation of a trust, however, is the fact that the trust can allow assets to transfer outside of the probate process. Normally the probate process would have to occur after a death and would have to conclude before property is … [Read more...] about What advantages do trusts provide?