Essex County, New Jersey, Trust Lawyer
An important element of estate planning is the trust. A trust is like a set of instructions you write when you are living that are to be followed when you are gone. Trusts allow you to do many things:
- Pinpoint where you want your assets to go
- Specify what purposes your money can be used
- Keep your financial affairs private
- In many cases, sidestep or minimize estate taxes
Key Ingredients of a Trust
In truth, there are as many kinds of trusts as there are estate planning needs. But they all have the same key structure:
- A grantor who creates the trust
- A trustee who holds the property for the benefit of someone else
- A beneficiary (or beneficiaries) to benefit from the trust
Trusts are a complicated area of law, and you will need an experienced and creative estate attorney, like Joanne M. Sarubbi, Esq., to create just the right trust or combination of trusts.
Some Kinds of Trusts and What They Can Do
- Testamentary trusts, which don’t exist until you die
- Special needs trusts, which support and protect disabled loved ones after you are gone
- Charitable lead trusts, a way to donate to charity over time until the rate of taxation is minimized
- Grantor retained trusts, which allows assets to be given to future generations in a tax-effective manner while you, the owner, keep the economic benefits
Skilled Trust Lawyer Serving Clients in Essex, Union and Morris Counties
There are an infinite variety of trusts that can be put to work for different purposes. I hope you will call me to discuss the powerful possibilities available to you.
Need assistance directing the components of your estate to the proper individuals, under just the right circumstances? Dial respected Essex County, New Jersey, trust attorney and estate planner Joanne M. Sarubbi at 973-671-1430 or e-mail her using this handy form.