Seth Schlessel (https://www.schlessellaw.com/who-needs-a-trust-instead-of-a-will/), a Long Island estate planning attorney at Schlessel Law PLLC, recently published an article titled “Who Needs a Trust Instead of a Will?” to help individuals understand the key differences between these two estate planning tools. Schlessel highlights the importance of selecting the right option based on personal goals, family circumstances, and financial needs.
Schlessel, an experienced Long Island estate planning attorney, explains that one of the primary advantages of a trust is its ability to bypass probate, allowing for the private and timely distribution of assets. He points out that avoiding probate is especially valuable for those with significant assets or complex family situations. “Many people don’t realize how trusts can provide privacy and greater control over how and when their assets are distributed,” Schlessel notes in the article.
For families with minor children, individuals who own property in multiple states, or those wishing to set specific conditions on asset distribution, Long Island estate planning attorney Seth Schlessel suggests that a trust may be the better choice. Unlike a will, which only takes effect upon death, a trust can manage assets during the individual’s lifetime and even provide financial protection in the event of incapacity. Schlessel also dispels the myth that trusts are only for the wealthy, emphasizing that anyone can benefit from the control and privacy they offer.
In addition to explaining the benefits of trusts, Schlessel advises clients on the potential challenges, such as the legal requirements of setting up and administering a trust. He encourages individuals to seek professional legal advice when deciding between a trust and a will to ensure their estate plan meets their specific needs.
For Long Island residents looking to protect their assets and plan for the future, Seth Schlessel and his team at Schlessel Law PLLC are available to help craft personalized estate plans that reflect each client’s wishes.
About Schlessel Law PLLC
Schlessel Law PLLC is a respected law firm in Long Island, New York, focusing on estate planning and related legal services. Attorney Seth Schlessel offers personalized guidance to individuals and families looking to protect their assets and ensure their wishes are honored. The firm is committed to providing comprehensive estate planning services, including the creation of wills, trusts, and more, to clients across the region.
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Email: seth@schlessellaw.com
Website: https://www.schlessellaw.com/
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Company Name: Schlessel Law PLLC
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Phone: (516) 574-9630
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Website: https://www.schlessellaw.com/