When you engage the services of a good Hartford estate planning lawyer your attorney is going to fill you in on all of your options and make recommendations based on your unique situation. When you hear all the details you may find that you would benefit from the creation of a living trust as a vehicle of asset transfer, and these instruments do indeed provide some profound advantages.
Control
The first thing that comes to mind is ongoing control. You as the grantor of the trust can act as the trustee while you are still alive and in control of your faculties. You can buy, sell, and utilize assets that you have placed in the trust as you see fit. You can also alter the terms or even dissolve the trust so you do in fact have total control.
Incapacity Contingency
A significant percentage of people who reach an advanced age become incapacitated, with dementia being quite common among the oldest old. When you are creating a living trust you can name a successor trustee who would take over in the event of your incapacitation and avoid any potential guardianship or conservatorship hearings.
Probate Avoidance
When you choose a living trust over a last will you enable the transfer of assets outside of the time-consuming and costly process of probate.
This is a brief look at some of the advantages that living trusts provide. To explore them in more detail simply take a moment to arrange for a consultation with a licensed and experienced Hartford CT estate planning lawyer.
Mr. Horowitz was awarded his Juris Doctor degree with honors from the University of Connecticut School of Law. While attending law school, Mr. Horowitz received the American Jurisprudence Award in Legal Ethics and the Nathan Burkan Award.
After graduation from law school, Mr. Horowitz continued his legal education at New York University School of Law where he received a Post Doctorate Law Degree in Taxation. He has also recently received a national achievement award.
Mr. Horowitz is admitted to practice before all the state courts in the State of Connecticut and the United States District Court.
Mr. Horowitz was selected for Super Lawyers in 2021.
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