What is a Trust?A look at the Basics<br />TIMINS & LaMAGNA, LLP<br />399 Knollwood Road, Suite 300<br />White Plains, New ...
Where do Trusts exist in our “Comprehensive Estate Plan”?<br />
Why Use Trusts?<br />
Parties to a Trust(Sometimes one person can be ALL THREE)<br />
What Property Can a Trust “Own”?<br />
Our Firm’s Ideal Clients<br />Someone whose Family Member is Recently Deceased              <br />May be entitled to more ...
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A Brief Introduction To Trusts

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This presentation is a basic introduction into the world of Trusts, the benefits of using a Trust instead of a Will, and maintaining government benefits by using the correct type of Trust

Published in: Health & Medicine
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A Brief Introduction To Trusts

  1. 1. What is a Trust?A look at the Basics<br />TIMINS & LaMAGNA, LLP<br />399 Knollwood Road, Suite 300<br />White Plains, New York 10603<br />(914) 819-0663<br />www.tllawoffices.com<br />_________________________________________________________________________________________<br />Attorney Advertising<br />
  2. 2. Where do Trusts exist in our “Comprehensive Estate Plan”?<br />
  3. 3. Why Use Trusts?<br />
  4. 4. Parties to a Trust(Sometimes one person can be ALL THREE)<br />
  5. 5. What Property Can a Trust “Own”?<br />
  6. 6. Our Firm’s Ideal Clients<br />Someone whose Family Member is Recently Deceased <br />May be entitled to more money than they are being told<br />Person or Couple with New Worth over $1 million<br />Avoid or minimize New York Estate Taxes<br />Disabled Clients / Clients with Disabled Children<br />Take advantage of government programs (SSI, Medicaid)<br />Divorced Clients / Clients in a Second Marriage<br />Establish distributive plan for specific children / disputes Fix “loose ends” from the marriage<br />Young Parents<br />Establish choice of children’s guardians and establish financial safeguards<br />Elderly Clients / Clients with Old Estate Plans<br />Update estate plan to reflect current desires & tax rates<br />Same-Sex Couples / Unmarried Couples – “Partners”<br />“Partners” receive NOTING under State Law<br />
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