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Long Island Trust Lawyer
Ms. Spirio is a trusted estate probate lawyer for clients across Long Island. She represents clients in both Nassau and Suffolk County. On top of being an estate probate lawyer, she can also be hired as your dependable trust lawyer and handle cases across Long Island. The difference between a will and a trust is a topic that every good will and trust attorney should discuss with their clients. Both plans leave physical and financial items for the people being covered. Life savings, valuable possessions, and sentimental items are both left in trust and wills.
What is a Trust?
A trust, which also goes by the name of "trust fund" or "trust account," is a legal arrangement that ensures a person's assets go to specific beneficiaries. The trust creator will put their assets in the trust account and later authorize a trustee to administer those assets for the trust creator or beneficiaries. Trusts generally have three main players:
- Grantor: This is the person who creates the trust and puts assets into it.
- Beneficiary: This is the person who eventually receives some of or all of the assets in the trust.
- Trustee: The person or organization who administers the trust.
If you need legal counseling on a trust, turn to our Long Island law office today.
What Are The Differences Between a Will and a Trust?
A trust, also known as a "living trust," is a document that gives others the right to manage or care for your property while you are still alive. If you suddenly became unable to look after your property and belongings, a trust gives another person the ability to look after your covered possessions and finances. A trust lawyer will help create a trust on your behalf and go over each section with you. A trust lawyer also helps your trustees who are the people or relatives you left your property rights to. They educate you and your loved ones about the trust's details and parameters. Trusts can be beneficial if you own a large estate or have accumulated a great net worth.
A will is a legally reviewed and signed document that says how your property will be distributed at the time of death. A will's details are typically changed throughout a person's life to adapt to current living conditions. Unlike trusts, wills only go into effect at the time of death, rather than at the time of legal rendering. A will attorney helps you write your will. And since we can you your probate lawyer, we assist your loved ones and relatives with the distribution process too. Not all will attorneys work as probate lawyers so it is best to check with your prospective legal consultant.
Consult With A Long Island Trust Lawyer Today
Spirio Law has years of experience in the field and can help guide you with any law issues you may have, including deciphering the difference between a trust and a will. She proudly represents clients from across Long Island. For more information about legal services regarding wills, trusts and estates, then please contact us today.
Contact Us
When you contact us, we can answer any questions or concerns you may have regarding our services. This is a no-obligation and no-hassle phone call. Simply discuss with us the parameters of your case and we can decide if there is a path forward.
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