Trusts are important tools that provide flexibility, tax benefits, and other advantages for estate planning purposes or even during the grantor’s lifetime. As the benefits of creating a trust gain more attention, more people have begun utilizing as a part of their estate planning. However, there are many trust options, and they are not one-size-fits-all. An experienced trust attorney from Pierro, Connor & Strauss can advise New Yorkers from the greater Albany and NYC-metro area with all trust matters from creation and administration to litigation.
Benefits of setting up a trust
Depending on your goals, a trust can provide benefits to beneficiaries immediately or at the time of the grantor’s death. A person, association, corporation, board, governmental agency, or any other legal “person” may dispose of real and personal property by way of a trust under the New York Estates, Powers, and Trusts Law.