Randall and Randall, LLP has been serving individuals and families in Northern New Jersey since 1922. Among the valued services we provide is estate planning, and trusts are some very useful tools to accomplish our clients' goals.
The most popular uses of trusts are to reduce the estate tax when a person dies, and to reduce the need for property and assets to undergo the probate process. With an irrevocable trust you remove assets from your ownership and control, for the benefit of heirs or charities. A revocable trust is one you can change or cancel at any time. If you should die without doing so, the assets become the property of the beneficiaries.
Since the property is not part of your estate when you pass on, they do not count toward calculating any potential estate tax, nor do they need to undergo probate.
Other trusts include those intended to benefit someone with special needs. To provide for a handicapped child or adult, you might place funds in a special needs trust that will continue to be there for the person when you are gone. A spendthrift trust is one intended to benefit a person lacking the ability to handle finances responsibly. This may be due to a gambling or drug or alcohol problem.
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Let an attorney at our firm explain what a living trust or other trust can do for you and your loved ones. Our law firm has earned a reputation over 80 years for competence and integrity.
Contact a Bergen County Attorney regarding a Trust
When the matter is important, when you want an experienced lawyer from a well-established law firm, contact Randall and Randall, LLP in Westwood, Bergen County, New Jersey. We are a local, community-based firm that clients have counted on since 1922. We welcome your calls for a free initial consultation.
