Legal Question in Wills and Trusts in New York
Wills and Trusts
My wife and I are drawing a will to prepare our young daughter in the case of our death.
Is it possible after establishing a legal guardian to set up a trust that would be payable to the child when she turns 25? We own a house that should be sold if both of us should pass and would like the proceeds to go only to the child and not the guardian.
Asked on 2/11/08, 3:34 pm
1 Answer from Attorneys
Rudolf Karvay
Berkman, Henoch, Peterson, Peddy & Fenchel, P.C.
Re: Wills and Trusts
Of course it's possible and it would be prudent to do so. Without a trust the Guardian may be forced to deposit the proceeds under joint control with the Surrogate's Court. This makes the Guardian's job more dificult and forces him or her to distribute all of the money to your child when she turns 18.
Answered on 2/11/08, 3:46 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
