Effective Trusts Attorney in Brooklyn
Creating a trust can be exceptionally confusing. There are so many different types of trusts that merely choosing the right option for you and your family can be intimidating if not impossible. At the Law Offices of Peter G. Gray, P.C., I provide comprehensive assistance as a Brooklyn estate planning attorney for you and your family. I thoroughly analyze your circumstances and needs, explain your best options and help you create trust documents and other beneficial estate planning instruments.
What is a trust?
Trusts are created by a settlor, also known as a grantor or trustor, to hold his or her estate. The settlor creates the trust through a trust document, funds it during his or her lifetime or after death and designates a trustee to manage the trust assets and distribute them to named beneficiaries.
Types of trusts
As an AV® Preeminent™ Peer Review Rated estate planning attorney in Brooklyn, I assist individuals and families in creating all types of trusts:
- Revocable living trusts – These trusts are established during your lifetime and can be changed by estate planning lawyers in Brooklyn during your lifetime. Generally the settlor is also the trustee managing the trust assets during his or her lifetime. Once the grantor dies, a successor trustee takes over the trust administration.
- Irrevocable living trusts – These trusts generally do not take effect until the settlor passes away. They cannot be changed once they are finalized, even during the lifetime of the settlor. They are often used to transfer wealth, protect assets and reduce taxes.
- Special needs trusts – Special needs trusts are created to provide for beneficiaries with physical or mental disabilities. If you need a special needs trust for your loved one, seek the assistance of experienced Brooklyn estate planning lawyers who can help you ensure the trust does not disqualify your beneficiary from government benefits.
- Charitable trusts – Charitable trusts are created for altruistic purposes. They can also help an estate avoid certain taxes and provide benefits for the settlor.
- Pet trusts – Pet trusts are created for the care and maintenance of designated domestic or pet animals in the event of the settlor’s disability or death.
- Family trusts – Family trusts are generally living trusts created to benefit a family. For example, a parent or grandparent may create a trust, serving as trustee during his or her lifetime, with the children and/or grandchildren as trust beneficiaries.
There are many other trust options that may benefit you and your family. A Brooklyn trusts and estates attorney can help you analyze your situation to determine your needs and the best trust for you.
Seek the assistance of skilled attorneys to protect your family and assets
At the Law Offices of Peter G. Gray, P.C, I help individuals, couples and families with all their trusts and estate needs. To learn more about my highly personalized, end-to-end services, call me today at 929-367-4333 or contact me online for a free initial consultation.