Retirement is inevitable—sooner or later, you will have to decide for a time when you are no longer able to earn. If you want to keep taking care of your needs without relying on others, you need to have a comprehensive estate plan in place that manages your funds in the best possible way. Some people decide to do this by setting up a revocable trust in NYC.
A trust is an agreement between two parties to manage the estate for a third-person—a ‘living’ trust is a subcategory that allows the benefactor to change or modify the contents of a trust at any given time. Combined, these two qualities of the trust work out quite well for certain situations, but retirement funds are a different story.