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Is your estate plan expertly crafted? With the help of experienced New York trust and estate lawyers you can make sure your assets are properly managed. Additionally, ensure that you are making well-informed decisions about your family and finances while putting your plans into effect quickly and efficiently.

Searching for the best trusts and estates law firms in NY is not an easy task. At Ortiz & Ortiz we have been serving clients throughout Brooklyn, The Bronx, Manhattan, Queens and Staten Island for over 30 years. Don’t hesitate to call us and let us know your case.

Experienced New York trust lawyers near you

Trusts can help ensure that your assets are managed and held in the correct form for future use by your family members.

Our New York trust lawyers work in areas related to estate planning, disposing of a client’s estate at death, and managing the estate during the client’s life. That is why it is a vital area of law because the use of trusts, wills and other estate planning documents can be really useful. Other advance directives such as a power of attorney or a healthcare proxy can be really helpful too.

What can our NYC trust attorney do for you?

The truth is that the lack of an estate plan can often result in unintended beneficiaries of your estate, probate in multiple jurisdictions, exposure to inheritance and estate taxes or liquidity that results in insufficient estate assets to provide for administrative expenses or taxes.

Our New York trusts lawyers can provide the following services:

  • We can explain the revocable living trust and also everything related to irrevocable trusts in New York state.
  • Help plan for retention provisions and contingencies that you may not be able to anticipate on your own.
  • Help you protect your assets from creditors.
  • Develop a plan of action to obtain a minimum exposure to inheritance taxes.
  • Draft a trust that fulfills your wishes for the estate and your beneficiaries.
  • We can assist you with the administration of the trust and inform your trustee of their fiduciary responsibilities.
attorney norma e ortiz

New York attorney Norma E. Ortiz legal’s practice includes bankruptcy, real estate law and business law. As a financial expert with over 30 years of experience and well versed in different practice areas, she will analyze your case in detail. 

Norma will help you decide if a trust would be the best fit for your needs and what form of trust would be best for you. She will also consider other forms of asset protection that may be available. For personalized attentive service and a professional case evaluation contact us by email, phone or book an online consultation right now.

new york revocable living trust

Revocable Trusts

The New York Revocable Living Trust is an estate planning instrument that provides the benefits of a trust to your heirs. At the same time, it allows you to monitor your assets throughout your life and gives you a way to determine how your assets are managed in the event you become disabled.

irrevocable trust in New York state

Irrevocable Trusts

Although it is true that revocable NY living trusts can provide many cost-saving benefits, they won’t provide relief from estate tax. Placing assets in an irrevocable living trust can protect those assets from being subject to estate tax. Additionally it can prevent the income they generate from being attributed to you as taxable income. Therefore, an irrevocable trust can be a solution for large estates.

living will vs living trust

Trusts Vs Wills

Depending on your goals, family dynamic and nature of your assets can be used to determine if a standalone last will and testament or a will used in combination with a trust established during your lifetime is the best option for your estate. Perhaps your wish is to provide for your heirs after your death and therefore you will want to make sure they are well-taken care.

Our New York trust attorneys will study your case and help you determine the best option to achieve your goals.

Other trusts

Trusts serve a broad range of goals and that is why they come in many different forms. Other types of trusts include:

  • Testamentary trusts;
  • Living trusts;
  • Charitable trusts;
  • Supplemental needs trusts;
  • Asset protection trusts;
  • Credit shelter trusts;
  • Funded or unfunded trusts;
  • Blind trusts;
  • Insurance trusts;
  • Special needs trusts.

Currently, our firm currently works with revocable and irrevocable trusts, the two basic and most common types of trusts in New York. 

Contact us to understand the value of a trust

The reality is that a carefully crafted trust can bring significant financial benefits as we have seen above. Examples of these are helping to transfer assets more efficiently and protecting clients from unnecessary taxes.

Whether you’re looking to avoid unnecessary capital gains taxes, protect your estate assets, pursue a charitable cause or you are trying to protect a child with a disability, a trust can be the estate planning tool you need to achieve your goals.

To learn more about this estate planning tool or any of our related services, contact us today. Ortiz & Ortiz is pleased to assist clients throughout New York City’s five boroughs: Queens, Brooklyn, Manhattan, Staten Island and the Bronx.