New York City Irrevocable Trust Attorney
Protect Your Estate with Help from the Law Office of Robert J. Maher, PC
Are you looking for a way to avoid the probate process or to protect your estate from creditors? If so, you might want to consider establishing an irrevocable trust. Our irrevocable trust attorney in New York City has extensive experience establishing all types of trusts, and we can help you determine if an irrevocable trust is right for you. For over a decade, we have provided clients across New York with premier-level estate planning services, and we can help you, too. Do you have assets or property in a foreign country? We can help you secure those assets as well.
To learn more about irrevocable trusts, call the Law Office of Robert J. Maher, PC at (646) 681-1977.
The Benefits of an Irrevocable Trust
When someone passes away, their estate must go through probate. During probate, your estate's value is determined, the courts validate your will, your executor settles your financial obligations, and your remaining estate is distributed among your beneficiaries. Probate can be a lengthy, expensive process, and many people wish to avoid it. Irrevocable trusts are one way to avoid the problems associated with the probate process.
The benefits of an irrevocable trust include:
- Irrevocable trusts are not subject to probate.
- Assets are immediately distributed to beneficiaries.
- Assets can be directly placed into trusts for minor children.
- Supplemental needs trusts can be established for children with special needs.
- Estate taxes can be avoided or minimized.
- Assets and savings can be protected.
You also have the option of establishing a Medicaid trust. A Medicaid trust allows you to preserve your estate for your family while still accessing Medicaid benefits for medical care, in-home care, and nursing home care. An experienced trust lawyer will be able to determine if a Medicaid trust is appropriate for your situation.
Prepare for the Future
There are many benefits of irrevocable trusts. For example, if you wish someone to inherit your estate over time instead of in a single sum, you can outline this in an irrevocable trust. You can also avoid estate taxes and lawsuits leveled against your estate. Irrevocable trusts are also a good option for people who wish to keep their estate information out of the public record. As irrevocable trusts do not go through probate, their information is left private. Our New York City irrevocable trust lawyer can help you determine if an irrevocable trust is right for your situation.
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