TRUSTS
Trust Preparation for the Buffalo, NY Area
Effective trust preparation can help you protect your assets, support your loved ones, and ensure your wishes are carried out with ease. Trusts can be created for a variety of important purposes depending on your goals and your family's needs.
Avoid Probate With a Revocable Trust
If your goal is to avoid probate, revocable trust preparation may be the right solution. A revocable trust can avoid the need to probate a Last Will and Testament in Surrogate's Court at your death. Doing so provides your family a simple, private and cost-effective means of transferring assets at death to future generations.
Protect Assets From Long-Term Care Costs
For those concerned about nursing home expenses or long-term care costs, Medicaid asset protection trust preparation can help preserve your assets. A Medicaid Asset Protection Trust (MAPT) is specifically designed to shield your wealth from high long-term care expenses, ensuring your resources remain available for your family rather than being depleted by medical costs.
Provide for a Disabled Loved One Without Affecting Benefits
If you have a disabled child, grandchild, or other loved one receiving Medicaid, SSI, or similar public benefits, supplemental needs trust preparation is a crucial tool. A Supplemental Needs Trust is a Trust that allows you to be able to leave money to a disabled person so that these funds can be used to pay for things that their government benefits do not cover without causing that person to lose his or her benefits.
