The Law Office of Zachary I. Riyaz, P.C. Trusts

Trust and Asset Protection

Trusts, incorporated into your will, serve multiple purposes:

Asset Protection for Beneficiaries: These trusts safeguard personal assets, including your home and savings, ensuring they are securely passed to children or other beneficiaries upon your demise.

Residence Provision: They offer a residence to individuals such as an unmarried partner, adult child, friend, or elderly relative post-death. Such individuals are granted occupancy for a predetermined duration, after which the property transitions to the final beneficiaries. During this period, the final beneficiaries are precluded from evicting the occupant.

Safeguarding Vulnerable Beneficiaries: Will Trusts are instrumental in protecting inheritances for beneficiaries who may be vulnerable due to disabilities or issues like substance abuse or gambling addiction.

Guarding Against Remarriage and Divorce Impacts: In contemporary times, remarriage and divorce significantly affect estate planning. Unlike standard wills, Will Trusts offer a layer of protection against these eventualities.

Asset Protection Trusts

Established during your lifetime, Asset Protection Trusts, drafted by barristers, provide extensive benefits beyond those offered by standard Will Trusts:

Defense Against Third-Party Claims: These trusts protect your estate from claims by external parties.

Bloodline Planning: They ensure that your estate is preserved and passed down through your family lineage.

Safeguarding Against Dilution through Divorce and Remarriage: The trust structure prevents the erosion of your estate due to divorce or remarriage of beneficiaries.

Inheritance Tax Mitigation: Asset Protection Trusts are structured to reduce inheritance tax liabilities for future generations.

Probate Avoidance: By holding assets within an Asset Protection Trust, the need for probate is circumvented, allowing immediate access for beneficiaries upon your death, as assets within these trusts typically bypass the probate process.

Call (516) 928-5838 or complete our online form to schedule your free 30-minute consultation with a respected Suffolk County attorney today.

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The Law Office of Zachary I. Riyaz, P.C.

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