Jericho Wills & Trusts Lawyer

What is a Will?

A will is considered a legal document that outlines your wishes concerning the distribution of your assets after your passing. It lets you specify who will inherit your property, manage your affairs, and care for your dependents. Without a valid will, the state's intestacy laws will determine how your estate is distributed, potentially leaving your loved ones in a challenging and uncertain situation.

We can assist you in drafting a clear and enforceable will that reflects your intentions. We work closely with you to identify your unique circumstances and goals, ensuring your wishes are accurately documented and legally binding.

What is a Trust?

A trust is considered a legal arrangement where a trustee controls assets on behalf of beneficiaries. Establishing a trust provides a way to transfer your assets while maintaining control over their use and distribution. Trusts may be either revocable or irrevocable, and they offer various benefits, including privacy, flexibility, and potential tax advantages.

We are well-versed in the complexities of trust creation and administration. Whether you want to protect your assets, provide for a loved one with special needs, or minimize estate taxes, we can help you establish a trust that aligns with your ideals.

Why Do I Need a Will or a Trust?

• Asset Distribution: A will or trust allows you to designate beneficiaries and determine how your assets will be distributed, ensuring that your loved ones are equipped according to your wishes.
• Minor Children: If you have minor children, a will permits you to appoint a guardian to care for them in the event of your untimely death. This crucial decision ensures your children are placed in the care of someone you trust.
• Avoiding Probate: A properly drafted trust can help your estate avoid the probate process, saving time and reducing administrative costs. This allows for a more efficient transfer of assets to your beneficiaries.
• Privacy: Unlike wills, trusts provide a level of privacy as they are not subject to public records. This confidentiality can be particularly important for individuals who prefer to keep their financial matters private.
• Tax Planning: Trusts can be a very effective tool for estate tax planning, helping to minimize tax liabilities and maximize the wealth handed on to your heirs.