Wills
Everybody needs a will. A will is necessary in order to take care of our legal affairs, to direct what will happen with our possessions, property and money.
A Will directs the appointment of an executor and provides for your beneficiaries, selects guardians for minor children and to control what happens to your possessions, property and money.
Trusts
After your death, the idea is to avoid Judicial Intervention (Probate) which in turn will save your family time and money as well as keeping the family affairs private.
Revocable Trusts
When creating a Revocable Living Trust, you transfer all your assets, except Retirement Accounts, from your name to the name of the trust. You will then appoint yourself as the Trustee and Beneficiary. This gives you total and complete control of all your assets. You are permitted to buy, sell, trade, and do whatever you want – just like you do now.
The real benefit kicks in upon your passing. There will be no assets left in your name, and therefore, no probate for your family to endure. Your named successor Trustee will immediately step into place and distribute the assets according to the provision of the Trust. There is no court involvement and minor administration fees versus a Full Probate. There will be no court delay in distributing your assets, and all your estate planning wishes will stay completely private.
Irrevocable Trust (Asset Protection Trusts)
Asset protection trusts are the strongest Estate Planning tools to protect against Long Term Care expenses, creditors, lawsuits and judgments. An Asset Protection Trust can also help deter a lawsuit before it even begins as well as make for favorable outcomes of settlement negotiations. As an Estate Planning protection tool, these types of trusts are where you’ll find the most peace of mind for the protection of your assets.
Contact
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2310 Genesee St.
Utica, NY 13502
