A Will is a document created to direct the distribution of assets at the time of death. Without a Will assets will be subject to the laws of intestacy of New York State, which will also direct the decision of what will happen to the assets. Wills are especially important to have for people with minor children, non-marital children or those that are in second marriages.
A Trust is a document which can go into effect during your lifetime that can be a private arrangement that you make to give legal holding of property to another person or persons. There many types of Trusts, such as revocable, irrevocable, testamentary, “Medicaid qualifying”, Pooled Income, or Supplemental Needs Trusts. Each type is a separate and distinct document which is tailor-made to the grantor’s (the one who funds the trust) wishes.
Our office has extensive experience with Wills and Trusts. With our help you can be sure your assets are assigned and properly divided in accordance with your wishes. Contact us at (631) 756-6006.
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