Legal Question in Real Estate Law in New York

Re: What is a Living Estate

I believe you mean a living trust, not an estate? If so, it depends upon whether or not the trust created is revocable or irrevocable. If revocable, all it does is by-pass probating a Will upon your death, or having a guardian of your property appointed if you become incapacitated. If it were irrevocable, it could, in addition to the benefits of a revocable trust, provide estate planning benefits, asset protection, income tax planning and similar benefits. To properly answer any questions, I would need to know what you are trying to accomplish. If you wish to talk to me, you can call me at (973)-377-3313 or e-mail me at [email protected]. There may be other documents you should have to complete a full estate and asset protection plan. Trusts are complicated and designed to accomplish a variety of purposes. If you provide an e-mail address, I can send you an artice I have written on this subject.