New York City and Long Island Testamentary Trust Attorneys

Testamentary Trusts

A testamentary trust is a trust which is created within a will. This trust doesn’t exist until the will is probated, upon the death of the testator, the person who wrote to the will. Pursuant to a testamentary trust, when the individual dies, the trustee will see to it your wishes are carried out and your property is distributed in the manner you wish and to the beneficiaries over a period of time that you have set forth in the trust. Testamentary trusts are not simple matters. You should utilize only an experienced Estates or Elder Law Attorney to draft this type of trust.

What Can You Do in a Testamentary Trust

You can accomplish through a testamentary trust almost anything that you could while you are alive with regard to your assets. You can control the management and distribution of your assets. The trust can deal with financial needs for your wife and children over long periods of time. The trust can also see to it your hard earned money, accumulated during your lifetime, is not to frivolously spent by your beneficiaries.

Testamentary Trust Trustee

The individual or individuals named as trustees in a testamentary trust should be a person who you have trust and faith in. This is especially true because you will not be around to supervise their actions. Individuals with either tax or investment knowledge would be a plus when considering who you would appoint as a trustee.

Contact Us

Contact our New York Wills, Trusts and Estate attorneys at 1-800-344-6431, 516-561-6645 or 718-350-2802 for a free consultation. We respond to inquiries seven days a week. We are attorneys you can rely on to assist you with all types of issues regarding wills, trusts, estates and guardianships.

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