revocable trusts Archives | Elder Law, Estate Planning, & Special Needs Planning Blog

15 10 '18

Is Your Revocable Trust Flexible?

Change is inevitable, and it comes in many shapes and sizes. Death, disability, and divorce are three of the most common changes in life that can wreak havoc on an estate plan. If your estate plan is not flexible, there could be unintended consequences. With the increasing popularity of revocable trusts, whether drafted by attorneys…

23 01 '18

When do I need a revocable trust?

Remember, the purpose of a revocable trust is to avoid probate and following fact patterns make it a necessity to use a revocable trust. Owning property outside of New York State If you own property outside of New York State in your individual name, a proceeding must be commenced in the other state to transfer…

01 09 '17

What is the difference between a revocable trust and an irrevocable trust?

It is worth noting at the outset that there are many types of irrevocable trusts. I think it is safe to assume that when you reference an irrevocable trust, you are speaking of the trust that we regularly use to protect your assets if you need to apply for Medicaid in the future. For our…