Keyword Search Result: trust

Setting Up a Trust For Your Pet

The Facts: I have two dogs that I consider part of my family. I want to be sure they are cared for after I die. Someone suggested that I include a Pet Trust in my Will The Question: Do you think this is a good approach? The Answer: Yes, I do. However, in addition to […]

Changes to New York’s Estate Tax Law

The Facts: I heard that the New York’s estate tax laws changed and that the value of an estate that can pass estate tax-free was increased. The Question: Is that true? If so, what is the current NYS estate tax exemption? The Answer: Fortunately for New Yorkers, the tax laws have changed and the tax […]

Estate Planning With a Trust and Life Estate

The Facts: My father is planning on putting his house into an irrevocable trust and naming me as trustee. He will be naming my sister and me as beneficiaries of the trust. The Questions: Can my father sell his house once it is in the trust? If my father goes into a nursing home, can […]

Should the House be Put in an Irrevocable Trust?

The Facts: My elderly father is putting his house into an irrevocable trust and naming me and my brother as beneficiaries of the trust. The Questions: If my father decides to move out of his house, will we be able to sell the house while my father is still alive? Would it be better if my father […]

What Happens if the Trust is Not Funded?

The Question: What, if anything, can be done if someone created a trust but failed to transfer any assets into the trust? My father intended to transfer his house and the funds in his brokerage account into his revocable trust to avoid probate and a possible Will contest by my brother. Unfortunately, my father never signed […]