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NEW YORK LIVING TRUST ATTORNEYS

Summary
New York Living Trust Attorneys
Service Type
New York Living Trust Attorneys
Provider Name
Dilendorf Law Firm,
60 Broad Street, 24th Floor,New York,New York-10004,
Telephone No.212.457.9797
Area
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Description
At the Dilendorf Law Firm, we make it as easy as possible for busy professionals to create a comprehensive, legally-enforceable estate plan. These plans often include a living trust. In addition to control of the property, the settlor, who is normally also the trustee, maintains control of the trust.

For many New Yorkers, an inter vivos (living) trust is the best of both worlds. These vehicles allow settlors (people who create trusts) to place property in a trust and use that property for as long as they live. In other words, living trusts create some tax and cost advantages while preserving most of the benefits of private ownership.

At the Dilendorf Law Firm, we make it as easy as possible for busy professionals to create a comprehensive, legally-enforceable estate plan. These plans often include a living trust. In addition to control of the property, the settlor, who is normally also the trustee, maintains control of the trust. The trustee can add or remove property almost at will. Additionally, in many cases, the trustee can unilaterally revoke or amend trust stipulations. 

Summary
New York Living Trust Attorneys
Service Type
New York Living Trust Attorneys
Provider Name
Dilendorf Law Firm,
60 Broad Street, 24th Floor,New York,New York-10004,
Telephone No.212.457.9797
Area
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Description
At the Dilendorf Law Firm, we make it as easy as possible for busy professionals to create a comprehensive, legally-enforceable estate plan. These plans often include a living trust. In addition to control of the property, the settlor, who is normally also the trustee, maintains control of the trust.

ATTORNEYS' EXPERIENCE

Represented a foreign investor as co-counsel in connection with setting-up a Delaware Dynasty Trust for asset protection purposes and for purposes of purchasing and holding investment real estate in New York

Benefits of a Revocable Living Trust

Trusts are excellent tax planning vehicles. When the settlor dies, the corpus (property in the trust) passes directly to the beneficiaries. There is no need to go to probate court. On a related note, the lack of a court proceeding keeps the assets in a trust completely private.

Furthermore, a revocable living trust protects your assets. Since the trust owns this property, as opposed to the individual, creditors cannot seize it to pay debts. Indeed, in most cases, creditors probably would not even know the trust exists.

Trusts are also quite flexible. At the Dilendorf Law Firm, through our secure online portal, we help families use living trusts as advanced estate planning vehicles. For example, inter vivos trusts often accompany pour-over wills. Any assets you have when you die pass to the trust instead of through the will. So, your heirs might bypass the probate process altogether. That means they avoid additional costs and unwanted scrutiny.

Tax Considerations

In most cases, living trusts significantly reduce estate taxes, but they might not eliminate them altogether. The estate limits are much higher for trusts. The state estate tax applies if the value exceeds $2.06 million, and federal taxes begin at $5 million. 

A QTIP (Qualified Terminable Interest Property) trust might provide additional tax benefits. This trust takes advantage of the marital deduction for interspousal transfers and also limits the inheriting spouse’s ownership rights. So, if a couple places their home into a QTIP trust and Husband dies first, Wife can live in the house for the rest of her life, but she cannot sell or otherwise dispose of the house.

A living trust does not completely protect your assets from creditors upon your death. But it does make these assets harder to find.

Living trusts can be completed online under the guidance of an attorney. For a confidential consultation with an experienced estate planning lawyer in New York, contact Dilendorf Law Firm.

Resources:

Summary
New York Living Trust Attorneys
Service Type
New York Living Trust Attorneys
Provider Name
Dilendorf Law Firm,
60 Broad Street, 24th Floor,New York,New York-10004,
Telephone No.212.457.9797
Area
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Description
At the Dilendorf Law Firm, we make it as easy as possible for busy professionals to create a comprehensive, legally-enforceable estate plan. These plans often include a living trust. In addition to control of the property, the settlor, who is normally also the trustee, maintains control of the trust.

For more information about our Living Trust services,

please contact Dilendorf Law Firm by sending an email or calling us at 212.457.9797

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