Proper trust planning & administration

Proper trust planning & administration

Trust Attorneys Serving New Jersey, White Plains & Westchester, NY

You’ve worked hard during your life to build your savings and assets. As you approach your later years, you are probably considering how to pass your estate and values on to your loved ones. This is a process that can go painfully wrong if the right plan is not in place.

Ely J. Rosenzveig & Associates, PC is ready to serve your specialized trust needs with great care, sensitivity, and efficiency. There is a range of trust instruments and planning options to achieve your objectives, including:

In many cases, especially when considering minor children, a will and a trust are needed.

  • Revocable trusts
  • Irrevocable trusts
  • Will planning
  • Special needs planning, including special needs trusts
  • Asset and income protection
  • Medicaid planning
  • Gift and estate tax saving strategies
  • Financial planning for future needs
  • Providing for loved ones with special needs

Often the question arises, “what is the difference between a will and a trust?” Both allow you to name your beneficiaries and are important documents as part of your overall estate plan. Trusts, however, allow you to avoid probate. In many cases, especially when considering minor children, a will and a trust are needed. Factors and objectives that determine which is the best planning tool include:

  • Naming beneficiaries
  • Transferring property
  • Distributing property or assets, including real estate
  • Avoiding probate
  • Maintaining privacy
  • Ability to modify or amend
  • Protection from creditors and court challenges
  • Guardianship for minor children
  • Avoiding conservatorship
  • Naming executor or trustee
  • Tax savings or deferral

There are many steps to take to safeguard an effective trust administration or settlement after your death or the death of a loved one. Post-mortem planning is required to settle the estate, reduce tax liability, and shift assets, as well as carry out your loved one’s wishes. However, it comes at a time when survivors are emotionally overwrought. We are there to shepherd you through this process with creative, and tailored planning strategies.

Contact our office in White Plains, NY, to learn more.

Schedule an appointment with an Attorney