Simple life decisions such as ordering food and choosing an outfit for an event are one and done decisions. You make the purchase and then consume the product in whatever capacity. You don’t necessarily have to go back and make changes/additions to keep it relevant and useful.
However, serious decisions are often not quite so. And what could be more serious than planning for when you’re not here to look after your family and loved ones? Despite being a grim topic, estate planning in the Bronx needs to be considered as a priority.
Many people sit down with an estate planning lawyer in the Bronx and determine a trust to be the solution for them.
When you compare trusts to other options offered by estate planning in the Bronx, the prior comes out on top. Cost savings, efficiency, and the element of added control all seem more lucrative than a will.
Furthermore, it avoids a public probate process. It also saves taxes, makes inheritance planning easier, and considers possible incapacity.
However, when you do get around to it and sit an estate planning lawyer in the Bronx, you’ll realize that signing a living trust is it for estate planning. A proper-functioning trust goes beyond that.
Once you’ve signed the papers, you have to fund assets into the trust.