Living trusts and wills are both used to manage the distribution of assets after death in New York.
A living trust offers several advantages over a will, including avoiding probate, providing privacy, allowing for continued control during the grantor's lifetime, providing for incapacity, and offering more flexibility in managing assets and providing for beneficiaries.
There are also some disadvantages to living trusts, including the cost and complexity of setting up and managing the trust.
Want to discuss which option is best for you? Contact POULSON LAW, PLLC.
