Using Spendthrift Trusts in New York To what extent is a beneficiary’s trust fund available to his or her creditors? Most elder law attorneys are very well versed in how trusts can be used to protect assets from claims by Medicaid, but it has been noticed, at least in my own experience, that the broader rules […]
The following case study highlights the benefits of using a Revocable Living Trust where the chosen beneficiaries are other than the natural objects of one’s bounty. This case showed why a living trust may be better when someone wants to cut out a child or other close relative from one’s estate. The client had no […]
Knowing the basic terminology in any new area of study is a key to understanding the topic as a whole. This is particularly true with estate planning and trusts where unfamiliar terminology abounds. This post will specifically go through some of the more common nomenclature surrounding trusts and trust planning. What is a trust is […]
One questions that clients often ask is whether having a trust will impact the client’s taxes. Obviously, with the tax law being what it is, this is not necessarily an easy question to address in a short blog post. Nevertheless, there are certain principals that can help establish the lay of the land and give […]