Trusts
Protect your heritage, your well-being, and your family with the proper trusts.
At Scheich & Goldsmith, P.C., in Queens and Long Island, New York, our lawyers have seen unnecessary losses to estate taxes, lengthy probate costs, and damaging will contests that could have been avoided with careful use of the appropriate trusts for asset protection.
Do you need a trust? Not every person should invest in a trust as part of an estate plan, but even those with modest incomes may benefit. Contact our Queens or Hicksville office to make arrangements to speak with an attorney about a plan to preserve your assets. Since each person's and each family's situation comprises a unique set of goals and circumstances it is important to work with a lawyer who will take the time to sit down with you and thoroughly discuss the costs and benefits of each instrument, including an irrevocable trust, a Medicaid trust, and a revocable living trust (New York living trust). Attorneys at our firm are accessible and ready to take the time to get to know our clients well before helping them choose the best instruments.
How does a trust help avoid a will contest? If you disinherit an heir, your will and probate proceeding may be an invitation to a lawsuit. If you have missing or unknown heirs, they must be located and notified of the pending probate proceeding, which may result in your assets being tied up for years after your death. If you have a trust, you can avoid probate. By putting your assets in a trust and appointing a trustee to manage them, they are locked in, can be distributed quickly, and will benefit only those individuals you designate.
How expensive is probate? If you have a simple estate, the cost of probate may be lower than the cost of creating a trust to avoid probate. Our lawyer will help you determine whether filing for probate or placing your assets in a probate avoiding trust should be the correct option for you.
Can a trust shelter my assets if I need Medicaid? Planning for the high cost of nursing home care should begin years before your health fails. A special needs trust or Medicaid trust can set aside funds that will provide for a higher quality of life for you or a child in the event you need government assistance for health care.
Whether you need a simple will, or will benefit from an irrevocable trust, a revocable trust, or a Medicaid trust, our attorneys will take the time to see that your family and your assets are protected. Contact our office to make arrangements to meet with one of our attorneys.
At Scheich & Goldsmith in New York living trust attorneys assist clients throughout New York City (NYC) and Long Island, including Queens, Richmond Hill, Hicksville, Ozone Park, South Ozone Park, Bethpage, Woodhaven, Woodside, Rego Park, Flushing, Syosset, Mineola, Levittown, Plainview, Kew Gardens, Jamaica, Elmont, Hempstead, Valley Stream, Laurelton, Rosedale, Hollis, Queens County, Nassau County and Suffolk County.
