If you are seeking to preserve and organize assets for your loved one and wish to retain control over those assets, a revocable living trust may be the right choice for your estate plan.
The experienced attorneys at Pierro, Connor & Strauss can help you understand the benefits of a revocable living trust in New York City, evaluate whether a revocable living trust aligns with your goals, and ensure it is properly created and funded to maximize their benefits.
With over 42 years of services and more than 400 years of combined attorney experience, we are trusted estate planning advocates for individuals and families in New York City and throughout the surrounding metro area. We serve clients across Manhattan, Brooklyn, Queens, the Bronx, Staten Island and on Long Island.
The Benefits of Revocable Living Trusts
A revocable living trust is an estate planning tool that allows you to transfer assets like real estate, bank accounts, or personal property into a trust while maintaining full control over them during your lifetime.
As the name suggests, a revocable living trust can be amended or revoked at any time as long as you are alive and have the legal capacity to do so. The person who creates the trust, known as the settlor or grantor, also typically serves as the initial trustee and primary beneficiary, meaning you continue to manage, use, and benefit from the assets during your lifetime.
When properly established and funded, revocable living trusts offer several attractive benefits for individuals and families seeking efficiency and peace of mind:
While revocable living trusts do not provide asset protection for long-term care expenses, from creditors or reduce estate taxes on their own, they serve as a highly effective foundation for a well-designed estate plan.
An experienced NYC trust planning attorney at our firm will carefully listen to your short- and long-term goals, and provide the guidance you need to decide if a revocable living trust is right for you and your family.
