Revocable Trust Brooklyn

Top Revocable Trust Brooklyn Services: A Spark of Imagination

Fact: Secrecy is paramount in handling your estate. A good trust will keep your secrets from even your close relatives.

We believe in giving our clients in Brooklyn the home-court advantage. We have consistently provided the results that clients need time and again. Our Revocable Trust Brooklyn lawyers are bound by loyalty and commitment to the best results.

While we make sure you get the results you want, we don’t forget the basic practices that have made us who we are. We are a firm that handles both simple and complex issues through years of practicing law. We can handle issues at practicing law at local, regional, and national levels.

Nothing is more important than the family you have. The vision you have for the future after you are gone will determine how the family fares on. Will you leave them in a financial mess, or will their future be secure?

As a will-maker, you have all the power to reduce any costs, risks, and stress that the family suffers only if you have a well-thought-of estate plan.

One of the biggest myths that we come across is that revocable living trusts (RLT) are only for the rich – wrong. The RLT is a great opportunity that you need to make use of. We shall take time to educate you on this concept so that you can decide whether it is right for you.

When done right, the RLT is a powerful estate planning tool that will put your vision in place for your family’s future. Regardless of whether you are rich or not, the trust can help you pass the property to your family. This tool can be as simple as you wish or complex. The fact is that an RLT puts you in control of the estate.

If you don’t know whether the RLT is ideal for you or not, come talk to a Revocable Trust Brooklyn lawyer who will assess your situation and assist you the right way.

It’s Not Just About You

No one is comfortable planning their demise. Besides, why should you even care about your legacy when you are long dead? It won’t do you any good, many people say. That’s wrong advice; instead, you need to care more because the estate plan isn’t all about you but rather about your family. The RLT is all about making sure you handle the consequences that might arise when you pass away.

Using an RLT will help minimize the financial and emotional impact that the family suffers when you are gone. However, you need to work with a Brooklyn revocable trust attorney to help you come up with the best option.

Brooklyn Estate Planning and the RLT

Before you come up with the trust, you need to understand the objectives of estate planning. Because the RLT is part of the plan, then it becomes part of the whole picture.

A good plan is a way to get complete control of the estate when you are still alive. It allows you to take care of your family and yourself when incompetency strikes. When you pass away, the plan will contain specific instructions for giving the property to the person you want, and when you want it, the way you want it. The plan should be foolproof, and this should occur at the lowest possible cost to the family and yourself.

As experienced revocable trust Brooklyn attorneys, we always tell our clients that it is all about making the best choices regardless of the situation. When you make these choices, you get the chance to gain full control over the property when you are gone.

You can only control the results if you understand your options, and then you make the best choice about what needs to happen. While you cannot avoid death, you can decide what legal and financial consequences your family experiences due to your death.

A good revocable trust Brooklyn lawyer will give you what you need in terms of options. We will tell you what these options do and their benefits. We then help you choose the best option for the existing circumstances.

Good Planning is Vital in RLTs

Good planning requires that you look at the RLT with the end in mind. You need to have an objective to guide you in coming up with the RLT.

The first consideration is your personal goals. These goals form the best starting point for all plans. We have handled many clients, and we know that every client has unique needs to handle. Therefore, you need to determine the best option for your family and how you want things to work out when you are long gone.

Without goals, how will you know what you want to accomplish with the RLT? Coming up with an RLT is a learning process for you and the revocable living trust lawyer. You need to teach the lawyer about you, the family and your expectations, and the concerns you have for them.

Using his information, the revocable trust lawyer in Brooklyn teaches you about the role of the RLT and what it does for your family.

Wills Vs. RLTs

This eternal debate has existed, asking whether a RLT is better than a will. You need to understand that estate planning is all about the results you want rather than what document you use to achieve the results. The will and the RLT are just tools that you use to achieve the results you need. You ought to use the right tool for the ob always.

So, we usually tell our clients not to let the method dictate the results; rather, it depends on what results you are going after. This is why a good revocable trust lawyer lets you understand what the tool does and how it will help you achieve your goals before making a decision.

Let us look at the two. A will becomes effective the moment you pass away. This means it doesn’t do anything for you when you are still alive, which makes it limited and not as effective when still alive. The will is a direct ticket to Brooklyn probate court because that is the only place where it is administered. The will’s sole purpose is to help your stuff be passed on to the deserving beneficiaries when you are gone.

The will is a perfect tool to use when you are long gone, and it can be fully perfect in the right situation, but horrible if your job needs more.

On the other hand, a RLT is a multi-purpose tool for estate planning. The trust comes into effect the moment you sign it, and it can work for your lifetime, even if you become incapacitated and as long as you wish after you die off.

Using the RLT eliminates the need to go to probate court at all. The RLT is very flexible and can give you unlimited options for planning your goals.

Unfortunately, many clients don’t use this tool because of misinformation and plain bad advice from professionals. Many estate planning professionals look at the process as a single financial transaction. They forget that you are planning for life after death, something that is vital to many people.

One look at your net worth and they think that they have a solution for you – wrong. Talk to a revocable trust Brooklyn lawyer to help you handle the process of coming up with the trust, funding it, and making it work perfectly.

The Anatomy of a RLT

Every RLT has three components – the “grantor,” the “trustee,” and the “beneficiary.” The grantor is the person that creates the trust for the benefit of the beneficiary. The trustee is the person who will manage the trust on behalf of the beneficiaries.

Grantors have total control over the RLT because they are the ones that decide what it says. Since trust is revocable, they have the right to change the various aspects of the trust whenever they feel. If they feel they want to change the beneficiaries, so be it. If they feel they don’t need the RLT anymore, they have the power to terminate it. As long as they are alive, the grantors have full control over the trust.

The trustee manages the trust as per the instructions in the trust. They don’t have any right to change or amend the trust – all they do is carry out the instructions in the document. A trustee is supposed to maintain the “fiduciary duty,” which is the obligation to act in the beneficiary’s best interest according to the terms of the trust.

The beneficiaries are the persons that enjoy the benefits of the trust. The grantor creates trust on behalf of the beneficiaries. Normally, the trust has one beneficiary, but the trust can have more than one. Usually, these are people related to the grantor, but they can also be entities such as charities.

The first beneficiary that is entitled to the trust funds is the “current” beneficiary. The alternative beneficiary that gets the funds only when something happens is the contingent beneficiary. The contingent beneficiary only comes into the picture when the primary one cannot benefit.

The beauty of a RLT is that it becomes effective the moment you sign it. Therefore it starts working immediately. You don’t have to wait for the grantor to pass away like with a will. If you become incapacitated, the RLT continues working for your benefit.

Talk to a revocable trust Brooklyn lawyer today to understand what you need to begin the process.

Transferring Assets to the Trust

It is vital to understand that the trust can only control the assets that are in the trust. This means that you have to fund the trust using the assets for it to be effective. You can fund the trust in various ways:

First, you can transfer the ownership of your assets to the trust when you are alive. This can be tedious, but it is worth the while.

The second method is to use beneficiary designations. Some assets such as retirement plans and life insurance cannot be added to the trust when you are alive; therefore, you can assign the RLT as the beneficiary so that the benefits are transferred to the trust when you die.

The final way to fund the trust is to name a trust as the beneficiary of the will. The only downside to the funding is that everything has to go through the Brooklyn probate process first.

Benefits of Revocable Living Trusts

As evocable trust Brooklyn lawyers, we help our clients to set up a RLT that can work for their estates. Let us look at the advantages of these trusts.

Continuity

Creating a RLT is the best way to make sure that the assets are available even when you are mentally incapacitated.

Avoids Probate

Using the RLT avoids the cost and time associated with probate. This is a significant benefit when you have extensive assets and out-of-state property.

It is Instant

The RLT starts being effective when it is signed. The document spells out what the trustee does to make sure the property gets to the right person.

First Meeting with Your Revocable Trust Brooklyn Lawyer

Although your RLT lawyer may initially seem like a stranger to you, you must create a solid relationship with them if you want your case to be completed faster. An attorney will only be comfortable working with you if you are comfortable around them.

One of the best ways to attain this is by both parties keeping their communication lines open. An excellent lawyer will continuously update you on the status of your trust and respond to all the questions you have on time.

You need to understand that you have a role to play when it comes to establishing a working relationship with your probate attorney. There are several things you can do to save time and facilitate a better workflow. Let us look at some of them:

Provide Appropriate Information

Once you choose an attorney, make sure that you provide them with all the information needed for successful establishment of the trust. Provide as much detail as possible.

It will be the responsibility of the lawyer to sort the information and discard what is not important. Not only will the information be useful in the process, but it will also enable them to predict the challenges that are likely to arise in the future.

Where documents are involved, be sure to make extra copies and keep them safe for future use.

Fulfill Your Obligations

Follow the guidelines given by the county through your lawyer. Complete each tasks accurately and within the stipulated deadlines. Your attorney will probably want to know how much progress you have made with the trust. This information will help them to establish where they should proceed.

You need to stick to the timeline given. Failure to do this can make the lawyer miss some important deadlines, which can be detrimental.

Respond Promptly

If you are requested to get some paperwork done, make sure that you respond promptly. In case you are unable to do so, inform the lawyer in good time so that they find an alternative.

Your timely response is required to ensure that the lawyer understands what do in case you are unable to meet some of the requirements. It is better when your lawyer requests for more time from the court to get the missing documents, than to keep quiet and miss a deadline without any explanation.

Have a Schedule

To make things easy for your attorney, you need to have a schedule for implementation of the trust. During the process, you will be required to participate in some of the activities and this may include appearing in court to respond to some questions.

It is recommended that you inform the attorney of your availability so that such activities are scheduled for a time that is convenient for you. Most court procedures are often scheduled a few weeks in advance. Communicating your schedule early eliminates any inconveniences in future.

Be Truthful

Provide the right information all the time. Do not get embarrassed when telling the truth, however detailed it may be. Your lawyer needs to implement the trust using facts and not hearsay.

Why Choose Us?

Brooklyn probate has never been an easy process. When you lose a loved one, you may not be sure what steps to take to ensure that the process is completed successfully. We are here to help you achieve this.

Our practice is always dedicated to its clients. We help you understand your situation and guide you into making the right decisions that keep you, your family, and the decedent’s assets protected through the succession.

You may probably be wondering why you should consider working with us. It is no doubt that we come highly recommended within the region because of several reasons. Some of them include:

We Offer Honest Advice

RLTs come with challenges and merits. Some laws and regulations must be followed at each step of the process. Our team understands the complexity of estate planning laws and guidelines. We always ensure to keep you informed about the status of your trust while also preparing you for any possible outcomes.

We provide you with all the available options that may be beneficial to your case. We also inform you of the pros and cons of taking certain decisions during the process. We aim to ensure that things are carried out in a manner that protects your interests.

We Are Experienced in Matters RLT

Our legal team has been specializing in this field for many years. We have assisted thousands of clients, mostly family members and executors, to administer the estate of a deceased loved one.

We handle all issues associated with RLTs from the time of coming up with one to the time you fund it.

Most of the people who come to us get the right form of guidance vital for their cases. We do not prioritize some cases over others.

We are Keen Listeners

Once you decide to work with us, our team will set up an appointment with you to better understand what needs to be done. You will be allowed to provide the team of lawyers with all the information required to create the trust.

We will ask you some questions to ensure that we understand your circumstances, including your financial position. We then explain the entire process to you, as we also offer you the right legal advice that will assist you in getting the process moving as soon as possible.

We are Cost-Friendly

One major aim of our team is to offer you a more affordable service that is also high-quality. Once you make an appointment with us, we will get some basic details about your need for trust, and use them to come up with a preliminary quote.

We may offer you a discount depending on how complex your case is. We explain to you in clear terms how we have arrived at the charges on the quote. We do not introduce any hidden charges during the probate process.

We Value Confidentiality

We have been trained to handle all your information with the utmost confidentiality. We understand that any information provided to us is private and must be treated so. Our revocable trust Brooklyn lawyers have an obligation to keep your details and details of the deceased’s estate as private as possible. This is what we call the client’s legal privilege.

Once you sign an agreement with us, you have a legal right to hold us responsible should any information you give to us become public. Working with us allows you to talk openly and honestly about your case since you are always assured of our trust.

We have a privacy policy to ensure that your information is collected, stored, and used the right way.

We Respect Diversity

We understand that our society is diverse and that every client is different. We also appreciate the fact that each case is different, and thus, must be handled differently. Our process ensures that we hear from our clients and obtain adequate information before recommending any solutions.

We are good at Bringing People Together

Conflicts are very common in families where a loved one has passed away. They often arise from disagreements about the trust and its contents. Family members who believe have been unfairly left out as trust beneficiaries will always contest the trust.

We are experienced at handling such conflicts. We do not limit our services to the court. Providing you with exceptional service means that we also handle any disputes that are associated with the case. We are compassionate representatives who understand the need for family members to work together.

We offer you the right counsel when it comes to handling family challenges. We also ensure that any claims filed against the trust are handled accordingly. We focus on working together with you, your trustee and beneficiaries as one team.

We Help Protect Your Assets

As the trust administration goes on, we will keep providing you with the right actions to ensure that your assets remain protected. We communicate any changes in your case as soon as possible. As we do this, we recommend a few options that you can use to keep your case on track.

Our major focus is to ensure that the trust funds do not end in the wrong hands. If there is a will, we do our best to ensure that the court distributes the estate according to the trust’s guidelines.