Instead, the trustee may hire an attorney to represent him or her with respect to the administration of the trust, and the beneficiary may hire an attorney who represents the beneficiary's interests with respect to the trust. As these issues often involve other family members or difficult personal issues, you want to make sure you have the highest quality and most talented New York estate trial attorney representing you with discretion and confidentiality. When it is obvious that your rights as a beneficiary have been compromised, we move forward as enthusiastic defenders of your rights. We have achieved many notable victories in litigating probate cases in New York City courts, some of which set a legal precedent.
With over 30 years of experience and recognized as a leading law firm in estate litigation, you can be confident that your legal issue will be tackled with skill. Think of a trust as a legal tool to protect and allocate your assets. Trusts can have significant legal and tax benefits. They can target their assets to a specific purpose or to a specific person.
The person who manages the trust is known as a trustee. The person or organization benefiting from the trust is known as the beneficiary. Depending on the type of trust you establish and the goals you have, it can be the trustee or the beneficiary. Your role will depend on your plans and the type of trust you create.
Such agreements are applicable in New York and must be drafted and executed in a precise and clear manner with the help of a trust and probate lawyer to avoid any possible negative impact. The laws relating to trusts and estates in New York are described in the New York EPTL Act - Estates, Powers %26 Trusts Law. In this regard, it is important not simply to work with any New York trust and probate lawyer, but to obtain legal counsel who can apply years of experience to help an individual get the most out of their trust formation or estate planning process. Changes in your life and changes in the law can have consequences for your trusts and estate plans, so it's crucial to keep the trust up to date.
You have a trustee after mom and dad died and the trustee manages the trust as stated by the terms of the trust. Trust assets pass outside probate, so creating a trust is a viable option for many Whether a trust is revocable or irrevocable will depend on the type of trust and its purpose in creating it. I liked what you said about getting an attorney representing your rights as a beneficiary to contact the trustee's attorney and request information. It is often advisable to establish a trust for your property and establish a will to manage any property not managed through the trust.
It's good to know that a lawyer can explain your concerns to the trustee's lawyer because that will do better. However, it's important to hire an experienced New York City trust and probate lawyer to help you minimize challenges to your estate planning documents. The trust and real estate lawyers at Sholes%26 Miller PLLC will help you understand your options so you can have peace of mind that your loved ones will be cared for the way you want them to. A Manhattan Trust Attorney at Chaves Perlowitz Luftig LLP can handle everything you need for an effective trust, from establishing and funding trusts to handling any disputes that arise.
However, a testamentary trust is part of the deceased's will, so the will is the instrument of the trust. .
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