One of the reasons why some people shy away from the idea of utilizing a trust to arrange for the transfer of their assets eventually is because they don’t fully understand how these instruments work. They choose a last will instead, assuming that this is a simple and direct way to arrange for asset transfers. In reality, the reverse may be true in some instances.
When you use a last will your estate must pass through probate before the heirs to the estate receive their inheritances. This process can be expensive and time-consuming, and the executor may have to involve many different professional entities to perform a variety of different functions.
With a trust like a revocable living trust you can actually streamline things quite a bit and be certain that the resources placed in the trust are handled properly.
When you create the trust for the well-being of a beneficiary you appoint a trustee who will administer the funds in accordance with your wishes. This trustee has a fiduciary responsibility and must act with the utmost integrity.
Many people will utilize a trust company or the trust department of a bank, and these professionals work within organizations that provide oversight as they service their clients. And of course they are experienced and savvy so you know that your trust is being administered professionally
To learn more about trusts and trust administration simply take a moment to pick up the phone to arrange for a consultation with a licensed Hartford 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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