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A living trust is a type of legal arrangement that allows you to control how your assets are distributed after you die. Setting up a living trust yourself would lead to mistakes. Look for a living trust lawyer to help you.
Types of Living Trusts
There are two types of living trusts: revocable and irrevocable.
Revocable living trusts can be changed at any time. You can add or remove assets from the trust, and you can change the beneficiaries.
Irrevocable living trusts cannot be changed. Once you set up an irrevocable trust, you cannot make any changes to it.
Why Set Up a Living Trust?
There are several reasons why you might want to set up a living trust:
To avoid probate: Probate is a legal process that happens after you die. If you have a will, your assets will go through probate before they are distributed to your beneficiaries. If you have a living trust, your assets can be distributed without going through probate.
To protect your assets: If you are worried about your assets being taken away from you, setting up a living trust can help. When you set up a trust, you can choose who will manage the trust and how the assets in the trust will be used.
To control how your assets are distributed: If you want to make sure that your assets are distributed in a certain way after you die, setting up a living trust can help. You can specify exactly how and when your beneficiaries will receive their inheritance.
Living Will and Trust Attorney
If you are considering setting up a living trust, talk to family trust lawyers. Lawyers can help you understand the different types of trusts and how they work. They can also help you create a trust that meets your specific needs.
At Strazzullo Law Firm, our family trust attorneys can help you set up a living trust that meets your needs. We will work with you to determine the best way to protect your assets and distribute them after you die. Contact us today to schedule a consultation in one of our offices in Brooklyn & New York, NY, Miami, Florida, or Napoli, Italia.
Tribeca Attorneys of Strazzullo Law:
The Hallmarks of Success
A good lawyer must have knowledge and skill, but to develop a successful and growing law practice, even more is required. At the Strazzullo Law, our New York attorneys possess personal dedication and a drive to succeed. That drive starts at the top, with founding attorney Salvatore E. Strazzullo.