Many life events and circumstances might prompt you to explore trust planning with an Elder Law Attorney. If you own property, are recently retired, own properties in multiple states, have a recent diagnosis or health concern, wish to avoid probate or disinherit a beneficiary, or need long-term care planning, a trust could be beneficial. Trusts allow for private and efficient asset distribution, bypassing probate court. You appoint a “trustee” to manage and distribute your assets to your chosen beneficiaries. Understanding the right type of trust for your circumstances and goals is essential, and this is where The Law Office of Alan C. Stein can assist.
Our experienced attorneys in New York, provide personalized care and expertise in handling your estate plan. We understand the emotional challenges of creating trust and strive to make the process as stress-free as possible.
Setting up a trust isn’t limited to retirement age. Many clients come to us in emergencies or after unfortunate events, wishing they had planned earlier. Consider these questions to determine if a trust is right for you:
If you answered yes to any of these questions, setting up a trust may be beneficial. Our knowledgeable trust attorneys can help you choose the right type of trust to meet your needs. Trusts offer asset protection, essential if you face future creditors or are applying for Medicaid. They also ensure privacy by keeping asset distribution between the trustee and beneficiaries, with no public record.
A trustee is appointed to execute the wishes outlined in a trust.
Choosing the right trustee can be challenging due to the significant responsibilities involved:
Trustees must act in the beneficiaries’ best interests with utmost respect and responsibility.
Trustees manage and distribute assets per the trust’s terms, including managing investments and filing necessary paperwork.
Trustees should preserve and maintain the trust’s value through proper investment management.
Trustees must ensure compliance with tax laws, including filing returns and paying taxes owed.
Trustees should maintain detailed records of asset distributions, trust changes, income, and expenses and inform beneficiaries accordingly.
At The Law Office of Alan C. Stein, we understand the laws and regulations applicable to your unique circumstances.
Our experienced trust attorneys can help you select a trustee who will fulfill these responsibilities with loyalty and integrity.
Our firm specializes in creating trusts and understands the challenges involved. We strive to make the process stress-free, ensuring your assets are in good hands. Our empathetic approach and legal expertise make us Long Island’s premier trust attorneys.
We distinguish ourselves with trust attorneys who focus on creating trusts and by treating our clients like family. Our respectful and professional approach ensures we understand your needs and concerns, working diligently to craft a plan that suits you and your loved ones.
If you need to divide your assets after death and prefer a private, efficient process without court involvement, our trust attorneys can help you set up a trust. Our small firm with a big heart has years of experience serving Long Island. Contact us or call (631) 283-6766 to schedule a free initial consultation today. We look forward to welcoming you to our client family.
The Law Office of Alan C. Stein, P.C. is a full-service law firm providing clients with the highest caliber of legal services. The firm has the breadth of practice and experience to handle the most complex Estate planning and related matters.
Woodbury Office:
7600 Jericho Tpke. Ste 308 Woodbury, N.Y. 11797
Phone: (516) 932-1800
Southampton Office:
53 Hill Street, Suite 1100 Southampton, N.Y. 11968
Phone: (631) 283-6766
© 2024 All rights reserved