Trusts are often created as part of estate planning to protect assets and provide for loved ones after a person's death. While these legal tools can help manage and distribute wealth efficiently, they can also be a source of conflict among family members or beneficiaries.

At Goldstein Mauer PLLC of New York, we understand that the loss of a loved one is a deeply emotional experience, and dealing with the legal and financial aspects that follow can be overwhelming.

Trusts serve as a crucial component of estate planning, allowing individuals to manage and distribute their assets efficiently. However, disputes can arise for a variety of reasons, including allegations of mismanagement, disagreements among beneficiaries, or issues regarding the trust's validity.

When individuals think about estate planning, one of the most critical decisions they face is appointing a trustee. This person or institution assumes a significant responsibility—managing and distributing assets within a trust in accordance with the wishes outlined in the trust document.

A revocable living trust is a flexible tool that allows you to retain control over your assets during your lifetime while providing clear instructions for distribution after your death. This type of trust can be especially valuable in estate planning, offering numerous benefits to you and your family.

Planning for the future is an essential step in securing your assets and protecting your loved ones. However, even the most well-meaning individuals can make errors in their estate planning that lead to unnecessary complications.

When planning for the distribution of your assets after death, one of the first decisions you'll face is whether to create a will or a trust. Both documents play an essential role in estate planning, but they serve different purposes and have distinct advantages and disadvantages.

Planning for incapacity is a crucial aspect of estate planning that too many people overlook. While many individuals focus on distributing their assets after death, it’s just as important to have a plan in place for situations where you might become incapacitated—whether due to illness, injury, or aging.

Probate is often a time-consuming and expensive process, one that many people wish to avoid when creating their estate plan. While it’s intended to check that assets are distributed according to the decedent's wishes, the process can take months or even years and incur significant costs.

When people think about estate planning, they often focus on the distribution of assets, such as writing a will or setting up a trust. However, one critical element of a well-rounded estate plan is the power of attorney. Our firm, Goldstein Mauer PLLC, is here to help those in New York City understand the importance of this role.