• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today for help!  (631) 265-0599
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube

Eghrari-Logo

Long Island Elder Law & Estate Planning

  • Home
  • Who We Are
    • About Our Firm
    • Meet Our Team
  • Resources
    • Client Resources
      • Definitions
      • Docubank
      • Elder Law Resources
        • Brentwood Elder Law
        • Central Islip Elder Law
        • Commack Elder Law
        • Hauppage Elder Law
        • Smithtown Elder Law
      • Estate Planning Resources
        • Estate Planning Check Up
        • Estate and Gift Tax Figures
        • Estate Planning Techniques
        • Estate Planning Worksheet
        • FREE Estate Planning Seminars
        • Long Island Estate Planning Resources
      • New York Medicaid Resources
        • Medicaid Planning Worksheet
      • Nursing Home Resources
      • Probate Resources
        • Brentwood Probate
        • Central Islip Probate
        • Commack Probate
        • Hauppage Probate
        • Smithtown Probate
        • Suffolk County Probate Resources & Checklist
      • Presentations
      • Retirement Planning Checklist
      • Trust Administration Resources
    • Elder Law Reports
    • Frequently Asked Questions
      • Business Planning
      • Estate Planning
      • Families Without an Estate Plan
      • Incapacity Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Reports
  • Estate Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses
    • Incapacity Planning
    • Legacy Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Hospice Care
    • Medicaid Planning
  • Areas We Serve
    • Long Island
    • Nassau County
      • Oyster Bay
    • Suffolk County
      • Brentwood
      • Central Islip
      • Commack
      • Hauppauge
      • Smithtown
  • Blog
  • Contact Us

Mobile Menu

  • Home
  • Who We Are
    • About Our Firm
    • Meet Our Team
  • Resources
    • Client Resources
      • Definitions
      • Docubank
      • Elder Law Resources
        • Brentwood Elder Law
        • Central Islip Elder Law
        • Commack Elder Law
        • Hauppage Elder Law
        • Smithtown Elder Law
      • Estate Planning Resources
        • Estate Planning Check Up
        • Estate and Gift Tax Figures
        • Estate Planning Techniques
        • Estate Planning Worksheet
        • FREE Estate Planning Seminars
        • Long Island Estate Planning Resources
      • New York Medicaid Resources
        • Medicaid Planning Worksheet
      • Nursing Home Resources
      • Probate Resources
        • Brentwood Probate
        • Central Islip Probate
        • Commack Probate
        • Hauppage Probate
        • Smithtown Probate
        • Suffolk County Probate Resources & Checklist
      • Presentations
      • Retirement Planning Checklist
      • Trust Administration Resources
    • Elder Law Reports
    • Frequently Asked Questions
      • Business Planning
      • Estate Planning
      • Families Without an Estate Plan
      • Incapacity Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Reports
  • Estate Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses
    • Incapacity Planning
    • Legacy Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Hospice Care
    • Medicaid Planning
  • Areas We Serve
    • Long Island
    • Nassau County
      • Oyster Bay
    • Suffolk County
      • Brentwood
      • Central Islip
      • Commack
      • Hauppauge
      • Smithtown
  • Blog
  • Contact Us

Trust Lawyers Can Guide the Process

Trust lawyers should be consulted as you are creating an estate plan.  Creating a simple will is often not enough to take care of your loved ones and to ensure you have left behind a strong legacy. Trusts can allow you to shield your assets while you are alive and to ensure you don’t lose assets to creditors or have to spend down your money if you need nursing home care.  Trusts can also give you the ability to control how your money is managed, to protect your heirs from losses due to divorce or bankruptcy, and to take care of loved ones with special needs. trust lawyers

There are many different kinds of trusts for different purposes and choosing the right one which accomplishes your goals is essential. Smithtown, NY trust lawyers at Eghrari Wealth Training Law Firm have invaluable experience with New York trust laws.  We can advise you on what type of trust is right for you, and can offer you comprehensive advice as you create trusts that will ensure your assets are safe now and in an uncertain future.

The Importance of Representation by Trust Lawyers

New York has many laws related to the creation of a trust and related to the protections that a trust can provide. Many people creating a trust do not understand all of the rules found in the Estates, Powers & Trusts section of the New York Code.  You cannot afford to make mistakes when it comes to the creation of a trust and you need to know all of the rules and regulations related to trusts so you select the right ones.

There are many decisions which you’ll need to make, including:

  • What type of trust to create. Should your trust be revocable or irrevocable? If you don’t select the right type of trust, the assets in the trust could end up not being protected from creditors and you could end up still having to spend them down before qualifying for Medicaid payments for nursing home care.  An attorney can advise you on which types of trusts actually provide you with the protections you need.
  • Who should be named as the trustee. The trustee has a fiduciary responsibility to manage the assets within the trust. You need to make an informed choice on who you can trust to serve as the beneficiary.
  • What assets should be transferred to the trust. The trust will own assets that you transfer to it, although you or your beneficiaries can maintain possession depending upon how the trust is set up.  You’ll need to decide which assets it makes sense to formally transfer to the ownership of the trust.
  • What conditions you should place on the trust. One of the most important reasons people create trusts is to maintain control over the money and property within the trust.  You’ll want to ensure you understand what conditions you are allowed to create and make sure you have clearly stated your specific requirements.

Every person’s situation is different and your reasons for creating a trust are your own.  When you work with trust lawyers, the attorneys who help you can listen to your goals, advise you on whether a trust is the right option, and can assist you with all of the technical steps involved in trust creation.

How Trust Lawyers Can Help Guide the Process

Trust lawyers guide the process in many important ways when you have decided to create a trust. When you first meet with your attorney, you’ll need to provide information on your assets, on your beneficiaries, and on the legal protections and benefits you are looking for. Your attorney can help you to decide if a trust is the right choice and what type(s) of trusts should be created.

Your attorney will then go through all of the formal steps of trust creation, and will take care of all of the paperwork necessary to create a legally valid trust. Once your trust has been created, your attorney will guide you through the process of actually transferring the assets. Many people neglect to do this last step, but it is an essential step because your trust provides no protection until it becomes the owner of the assets you are trying to keep secure.

Getting Help from Smithtown, NY Trust Lawyers

When you need help from experienced Smithtown trust lawyers, Eghrari Wealth Training Law Firm can provide the legal advice you need.  Give us a call at (631) 265-0599 or contact us online to learn more about how an estate planning and trusts lawyer can help you.  You can also find out some essential information on trusts by joining us for a free seminar.

  • Author
  • Recent Posts
Eghrari Wealth Training Law Firm
Eghrari Wealth Training Law Firm
Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
Eghrari Wealth Training Law Firm
Latest posts by Eghrari Wealth Training Law Firm (see all)
  • Proving Lack of Testamentary Capacity in a New York Will Contest - September 27, 2023
  • How to Handle the Black Sheep Beneficiary in Your Estate Plan - September 13, 2023
  • What Is a New York Durable Power of Attorney? - September 6, 2023

About Eghrari Wealth Training Law Firm

Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.

Previous Post: «living trust Can A Living Trust Include Spendthrift Protection
Next Post: Is There a National Association of Trust Lawyers? trust lawyers»

Primary Sidebar

Blog subscription

Subscribe to our Blog for the latest estate planning news and updates!

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • Twitter
  • YouTube

Where We Are

Eghrari Wealth Training Law Firm
50 Karl Avenue, Suite 202
Smithtown, NY 11787
Phone: (631) 265-0599
Fax: (631) 265-0754

See Larger Map
Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 2:00 PM

Map

map for Eghrari Wealth Training Law Firm office

Footer

Office Location

Eghrari Wealth Training Law Firm
50 Karl Avenue, Suite 202
Smithtown, NY 11787
Phone: (631) 265-0599
Fax: (631) 265-0754

See Larger Map
Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 2:00 PM

Sign Up for Our Newsletter

Sign up to get our free estate planning newsletter for all of our tips and resources

  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Site Footer

ATTORNEY ADVERTISEMENT

Copyright © 2023 American Academy of Estate Planning Attorneys · All Rights Reserved