[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/you-may-not-need-a-trust-but-it-should-be-considered-new-york-ny-greenwich-ct\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/you-may-not-need-a-trust-but-it-should-be-considered-new-york-ny-greenwich-ct\/","headline":"You May Not Need a Trust but It Should Be Considered\/ New York, NY","name":"You May Not Need a Trust but It Should Be Considered\/ New York, NY","description":"A trust is a good estate planning tool. However, it is not necessarily for everyone and every plan. Despite extensive advertising by non-attorneys selling trusts, the real fact is that not everyone needs one. If they do need a trust, there are many important decisions that need to be made to avoid a disaster. There […]","datePublished":"2018-04-27","dateModified":"2023-08-05","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0223c845cfbb.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0223c845cfbb.jpg","height":849,"width":566},"url":"https:\/\/www.amorusolaw.com\/blog\/you-may-not-need-a-trust-but-it-should-be-considered-new-york-ny-greenwich-ct\/","about":["Estate Planning","Trusts"],"wordCount":266,"keywords":["Estate Planning","Trusts"],"articleBody":"A trust is a good estate planning tool. However, it is not necessarily for everyone and every plan.Despite extensive advertising by non-attorneys selling trusts, the real fact is that not everyone needs one. If they do need a trust, there are many important decisions that need to be made to avoid a disaster. There are times when trusts are the best option, according to the Wills, Trusts & Estates Prof Blog discusses in “Estate Planning, Is a Trust Beneficial?“.Sometimes a trust is not a necessity, because in certain states the process of going through probate for relatively small estates is inexpensive and easy. Therefore, there is no reason to avoid probate with a trust. Another potential problem with trusts is that choosing the wrong person as a trustee can result in a disaster difficult to fix.Situations where a trust is a good idea include when you have a blended family and want to leave assets for your spouse, while making sure that your children from a previous marriage will still have something to inherit. Another reason a trust might be a good choice is if your intended beneficiary is not responsible enough to handle money or has a lot of creditors. Trusts can also be used to help with estate tax issues.An estate planning attorney can advise you on when a trust is right for you and when it may not be necessary.Reference: Wills, Trusts & Estates Prof Blog (March 28, 2018) “Estate Planning, Is a Trust Beneficial?”For more information on asset preservation and estate planning, please visit my estate planning website."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"You May Not Need a Trust but It Should Be Considered\/ New York, NY","item":"https:\/\/www.amorusolaw.com\/blog\/you-may-not-need-a-trust-but-it-should-be-considered-new-york-ny-greenwich-ct\/#breadcrumbitem"}]}]