Trust & Estate

Trust and Estate Law: What You Need to Know
Trust and estate law is a broad area of law that deals with the transfer of property and assets after death. It includes issues such as wills, trusts, probate, and estate taxes. Trust and estate law is a complex and ever-changing area of law, and it is important to consult with an experienced trust and estate lawyer if you are facing any legal issues involving your estate.

What Is A Trust?
A trust is a legal arrangement in which one person, the trustor, transfers property to another person, the trustee, for the benefit of a third person, the beneficiary. Trusts can be used for a variety of purposes, such as:

• To provide for the care of minor children.
• To protect assets from creditors or lawsuits.
• To minimize estate taxes.
• To provide for the long-term care of a disabled person.

What Is A Will?
A will is a legal document that expresses a person’s wishes for the distribution of their property after death. A will can also appoint a guardian for minor children and an executor to carry out the terms of the will.

What Is Probate?
Probate is the legal process through which a will is validated and the assets of the deceased person are distributed according to the terms of the will. Probate can be a lengthy and expensive process, and it is important to consult with an experienced probate lawyer if you are facing a probate matter.

What Are Estate Taxes?
Estate taxes are taxes that are imposed on the transfer of property at death. Estate taxes can be very expensive, and it is important to take steps to minimize estate taxes, such as by using trusts and other estate planning techniques.

If you are considering any of the following, it is important to speak with an experienced trust and estate lawyer:

• Creating a will or trust.
• Changing an existing will or trust.
• Probating a will.
• Administering an estate.
• Minimizing estate taxes.

If you are in need of an experienced trust & estate attorney, or need assistance with probate, call Kratka Law Group now at 212-804-9054, or schedule your free legal consultation with the form below.