It’s a New York City trust lawyer’s job to help you set up a trust that will help provide financial security to your loved ones, even after your gone. Utilizing the services of a trust lawyer ensures that all the paperwork has been properly filed and that the trust will hold, even if someone challenges the trust in court.
Duties a New York City trust lawyer fulfills includes:
- Filling out and filling the paperwork connected to the trust
- Making sure the trustee understands their duties
- Helping you decide if the trust should be one that is allowed to mature, or if the beneficiary will get it in pre-determined increments
- Helping you, the trustee, and the beneficiary understand New York City trust laws
What are Trusts?
The concept of trusts dates all the way back to the 12th century when English nobles left their homeland to fight in the Crusades. In the following centuries, the guidelines governing trusts have been tweaked until we have the system that’s currently used.
Today there are three main types of trusts. They are:
- Express trusts which are created when the original property owner wants to be clear about how they property they’re leaving behind should be managed
- Dynasty trusts which are created when an individual want to make sure their grandchildren or great grandchildren get a portion of the assets
- Unit trusts are used when the estate will be divided up into equal shares
Many people have also started to set up trusts that address how their pet will be cared for if they outlive their owners. Sometimes a property owner sets up a trust for their beneficiaries. Other times the trust is created as part of court order following a plaintiff winning a court settlement.
The trust laws and policies in New York can be quite complicated and there are so many different types of trusts that navigating them on your own is impossible. You will need help from a qualified New York City trust lawyer and that’s where Pulvers-Thompson can help. Our experienced attorneys can walk you through your options for creating a trust and help you finalize the necessary legal documents to make your wishes secure.
At Pulvers-Thompson, we understand that the process of setting us trusts and other legal documents related to death can be an emotional process. When you throw in the potential conflicts with family members, it can get very intense. Our experienced attorneys will play an intricate role in helping you see things clearly and logically without allowing your emotions to dictate these important decisions that will impact your loved ones after you die.
Contact us today to learn more about how to set up your Trust or establish a legal will in New York City. Our attorneys can assist you with all areas of New York estate planning or represent you if you are dealing with a matter of estate litigation or probate.