Living Trust and Estate
Planning Legal Information

OUR LEGAL INFORMATION WILL HELP YOU TO BETTER UNDERSTAND A REVOCABLE LIVING TRUST AND ESTATE PLANNING RELATED ISSUES

Most lawyers charge too much for a living trust - 1.
To understand why most lawyers charge too much for a living trust and why it is safe and easy to do it yourself, it helps to know that a living trust is simpler to prepare than a will. To draft a standard living trust -- which is what most attorneys ...   More details

Most lawyers charge too much for a living trust - 2.
Once the trust is drawn up (these days, spit out by a high-speed laser printer), you sign it in front of a notary. Finally, to make the trust effective, all property to be distributed under its terms must be transferred into the name of the trust usi ...   More details

New York Living trust - "FUNDING" THE TRUST.
For a living trust to take effect, title to the grantor's assets must be transferred into the trust. For example, title to any bank accounts, stock certificates or real estate owned by the grantor must be transferred into the trust. Contrary to the i ...   More details

New York Living trust - "POUR-OVER" WILL.
A "pour-over" will is necessary to distribute any property that is acquired in the name of the grantor after the living trust was established, or any property that was not transferred into the trust in the first place.
 
The use ...   More details

New York Living trust - A LIVING TRUST AVOIDS THE IMPOSITION OF ESTATE TAXES.
With proper training, a living trust can be a valuable estate and tax-planning device. However, there is no inherent estate tax advantage to using a living trust. While a trust may contain provisions taking effect at death, which do save on taxes, th ...   More details

New York Living trust - DOES A LIVING TRUST AVOID PROBATE.
Perhaps the biggest advantage of a living trust is that it does not have to go through probate, as does a will. However, there are other estates planning devices, which avoid probate, such as a joint tenancy, a life insurance policy, and in-trust-for ...   More details

New York Living trust - DOES A TRUST AVOID INCOME TAXES.
There are no substantive income tax advantages in the use of a living trust. The grantor is treated as the owner of the trust for income tax purposes, and must report all trust income on his or her personal return under the "grantor trust" ...   More details

New York Living trust - IS THERE A LIVING TRUST MORE PRIVATE THAN A WILL.
A will becomes a matter of public record during the probate process, and a copy can be obtained upon request to the Surrogate's Court. A living trust is a private document that is not subject to public scrutiny.
 
However, a "pour-ove ...   More details