Do I Need a Living Trust? A Self-Assessment Guide for New York Residents - Davies Law Firm
Note sull'episodio
From Davies Law Firm - Do I Need a Living Trust? A Self-Assessment Guide for New York Residents explores how revocable living trusts can help Syracuse families protect assets, preserve privacy, avoid probate, and plan for incapacity. This episode walks New York residents through the key reasons a living trust may belong in an estate plan, especially for those who own real estate, have financial accounts over $50,000, hold business ownership interests, or want to keep family matters out of Surrogate’s Court.
The discussion highlights guidance from Frederick P. Davies and William P. Davies of Davies Law Firm, P.C., whose Syracuse estate planning practice serves families across Onondaga County and Central New York. Frederick P. Davies brings decades of experience, more than 1,000 estate planning seminars, and a background that includes Syracuse University College of Law, the United States Navy JAG Student Program, the New York State Bar Association, and the Estate Planning Council of Central New York. William P. Davies adds advanced estate planning training through his Heckerling LL.M. from the University of Miami School of Law, along with experience connected to Albany Law School, Syracuse Law Review, Albany Law Review, the National Business Institute, and the Central New York Community Foundation.
Listeners will learn what a revocable living trust does in New York, how Estates, Powers and Trusts Law § 7-1.17 applies to lifetime trusts, and why trust funding matters for homes, bank accounts, investment accounts, rental property, LLC memberships, partnerships, collectibles, and other valuable personal property. The episode also explains how a successor trustee can manage trust assets if incapacity occurs, how Mental Hygiene Law Article 81 guardianship proceedings may be avoided, and why a power of attorney, pour-over will, and beneficiary designations remain important parts of a complete plan.
This episode also covers privacy, probate, Medicaid spend-down concerns, creditor claims, estate taxes, blended families, minor children, beneficiaries with special needs, Supplemental Security Income, Medicaid, transfer-on-death designations, joint tenancy with right of survivorship, and proceedings before the Onondaga County Surrogate’s Court. For New York residents wondering whether a living trust is right for their assets, family structure, health status, or long-term goals, Davies Law Firm offers estate planning guidance from its office at 210 E Fayette St in Syracuse and can be reached at (315) 472-6511.
Davies Law Firm
210 E Fayette St, Syracuse, NY 13202
(315) 472-6511