Member since
2001
Binghamton Trusts and Estates Lawyer
The proven Binghamton estate lawyers at Coughlin & Gerhart, LLP are experienced in the effective resolution of estate lawsuits and claims as related to family estates and trusts. Binghamton estate attorneys are knowledgeable in all areas of general estate law, including but not limited to instances of estate bankruptcy, living trusts and retirement planning in Binghamton, New York.
The Binghamton trusts and estates attorneys have experience representing clients with matters involving:
- Decedents Estate
- Estate Bankruptcy
- Estate
- Estate Planning
- Family Trusts
- Living Trusts
- Powers of Attorney
- Retirement Planning
- Special Needs Trusts
- Trust
- Unclaimed Property
- Wealth Planning
Experienced Binghamton Trust Attorney
Trusts are estate-planning tools that can replace or supplement wills; as well as help manage property during life. A trust manages the distribution of a person's property by transferring its benefits and obligations to different people. There are many reasons to create a trust, making this property distribution technique a popular choice for many people when creating an estate plan.
The basics of trust creation are fairly simple. To create a trust, the property owner (called the "trustor," "grantor," or "settlor") transfers legal ownership to a person or institution (called the "trustee") to manage that property for the benefit of another person (called the "beneficiary"). The trustee often receives compensation for his or her management role. Trusts create a "fiduciary" relationship running from the trustee to the beneficiary, meaning that the trustee must act solely in the best interests of the beneficiary when dealing with the trust property. If a trustee does not live up to this duty, then the trustee is legally accountable to the beneficiary for any damage to his or her interests. The grantor may act as the trustee himself or herself, and retain ownership instead of transferring the property, but he or she still must act in a fiduciary capacity. A grantor may also name him or herself as one of the beneficiaries of the trust. In any trust arrangement, however, the trust cannot become effective until the grantor transfers the property to the trustee.
An experienced Binghamton estate lawyer is professional and knowledgeable in understanding the details, facts, complications, and circumstances that arise in a trusts and estates case.
Trusted Binghamton Estate Law Firm
The Binghamton estate attorneys at Coughlin & Gerhart, LLP are distinguished by a history of successful estate claim recoveries and resolutions. For experienced representation in an estate dispute or if you need help with estate planning, contact the Binghamton estate lawyers at Coughlin & Gerhart, LLP in New York.
