Tag Archives: assets
How Dissipation of Assets Affects Equitable Distribution in New York
New York has an equitable distribution system for dividing marital property, meaning that a judge divides assets based on fairness rather than applying a strict 50/50 split. Judges look at the big picture, including whether either spouse improperly spent, hid or gave away joint assets. Among the factors weighed during equitable distribution are the following: […]
Advantages of Putting Assets Into a Living Trust
A living trust is a method of preserving and investing wealth during your lifetime and earmarking the proceeds for designated beneficiaries upon your death. It is also called a revocable trust because it gives you the power to alter or terminate it. Living trusts provide numerous advantages that make them useful tools in estate planning. […]
How a Pour-over Will Helps Achieve Your Trust Objectives
Individuals may choose to create a trust, in addition to a will, when they desire a high degree of control over the distribution of their estate. The most common type of trust is the revocable living trust, which allows individuals to place their assets into a trust but still use them while they are alive. […]
Pros and Cons of Revocable Living Trusts in Estate Planning
A revocable living trust can be an effective method of distributing property to your intended beneficiaries without need of a probate proceeding. A trust is traditionally an agreement between two parties — the grantor and the trustee — directing how property is to managed and for whose benefit. But a living trust allows you be […]
