Law Office of Inna Fershteyn and Associates, P.C.
Estate Planning & Elder Law Attorney
The concept behind the irrevocable trust, a popular estate planning tool, is relatively simple; irrevocable trusts cannot be revoked and the assets cannot be returned to the trust’s original creator. Furthermore, most irrevocable trusts do not allow for the amendment of the trust, unless changes
Though we often associate estate planning, the process of preparing for the transfer of wealth, with tangible assets like real estate or cold, hard cash, or even intangible assets like banking or investment accounts, the fact of the matter is that for those of us
Until Death Do Us Part: Exploring the Spousal Lifetime Access Trust (SLAT) What is a Spousal Lifetime Access Trust (SLAT)? The Spousal Lifetime Access Trust (SLAT) is an irrevocable trust that benefits the donor’s spouse and children. Through a SLAT, a donor may reduce a
Dennis Kowalski, a husband and father of three, recently spent $140,000 to cryogenically preserve his entire family after they die, hoping to give them a chance at a second life. He is the president of the Cryonics Institute and a paramedic, and trusts that this
How do you qualify for Medicaid? The Medicaid program is often used as a device by those who cannot afford healthcare themselves to get aid in the event that their situation requires it. In fact, it currently covers 74 million Americans. This government assistance program
Wading Through the World of Trusts – How do Various Trusts Differ? What are Trusts? Creating a trust with the help of an estate planning lawyer is a perfect way to kick off your estate plan, especially if you’re looking for a relatively easy, nearly
Choosing Between a Revocable Trust and an Irrevocable Trust What is a Trust? Trusts are employed by individuals and families to distribute their assets in a fast and cost-efficient way. Shared benefits of all trusts include the conservation of the time and costs associated with probate. In addition, the
Does A Trust Have to Be Registered With The State? If you’re a person who is familiar with the dealings of corporations, LLCs, or limited artnerships, then you might be inclined to think that trusts, a similar agglomeration of wealth, would be held to the
Amending Wills and Trusts Though amending your will or trust might sound like a confusing, daunting task, it is a rather straightforward process. While it’s not as simple as just taking a red pen to your will and scribbling out the parts you don’t like,
With all of the worries most adults have on their plate, from their job to their family obligations, let’s ensure financial security and inheritance decisions are not part of the mix. Using these 8 estate planning steps, we can help you feel a sense of