Passaic County Trusts Lawyers
What is a trust? What many people may not realize is that trusts are one of the most versatile estate planning tools available. A trust is when legal title of assets is transferred to a trustee who holds, invests and administers the property for those named as beneficiaries of the trust. Not only can you avoid probate by having certain assets pass from one person to another through a trust, but there are many other benefits and they can be used for many other reasons as well.
At Fiorello, Puccio & Fiorello, L.L.C., located in Wayne, New Jersey, we have more than 40 years of experience helping people draft and execute different kinds of trusts to accomplish their estate objectives. To find out more about trusts and how they might be a beneficial part of your estate plan, contact us today to set up a free consultation.
Want To Minimize Estate Tax In New Jersey? Use A Trust.
Trusts offer a lot of flexibility. A trust can be revocable or irrevocable. It can also be used to set up a lifetime management of assets such as large sums of money, helping protect minors, or used to establish a gift program for family members, friends or charities. Trusts can also be used for:
- Tax reasons such as incentives, minimizing estate taxes and protecting certain benefit program proceeds from taxes
- Preventing certain assets from having to pass through the probate process
- Ensuring added levels of privacy about how certain matters and assets are handled and distributed
- Relieving the burden of managing property and placing it with professionals or a more objective party
- Providing financial security for a loved one such as a minor, disabled individual or elderly loved one
What Type Of Trust?
Our Passaic County trust attorneys can help you understand what trusts are available and set up the ones that meet your needs. We have experience with all types of trusts allowed under New Jersey law, including living trusts, charitable trusts, insurance trusts, special needs trusts and medical trusts.
We also handle probate estate matters that involve administration of trusts as well as resolving disputes through probate litigation and appeals.