Rochester Trusts Attorneys Helping Throughout The Process
Planning for the future can be a daunting task – especially if you try to do it alone. At Weinstein & Randisi, our attorneys are here to help.
Our Rochester, New York, estate planning law firm has been serving the community for more than 50 years, providing the personalized, practical legal advice that you need to make plans that protect your assets and your legacy. We make a commitment to our clients that we will continue to offer the high-quality legal representation that they need, with the attentive service that they deserve.
We know your future plans are important – they are important to us, too. That is why we go above and beyond to help you lay a strong foundation for your future and your family.
What You Need To Know About Medical Bills and Trusts
At some firms, clients are hesitant to reach out with questions because every time their lawyer picks up the phone they incur another expensive charge. At Weinstein & Randisi, we want you to feel comfortable coming to us with your concerns. That is why we have a transparent billing system that uses flat fees. We never charge for phone calls or meetings – so there are no surprise bills for you down the road.
With all of the things competing for your time and attention, it can be easy to push planning for the future off until it is too late. Let one of our skilled attorneys walk you through the process, answering your questions and creating a customized estate plan that fits your life.
Depending on the type of trust, you can designate funds to address medical bills, specifically. For instance, a well-crafted special needs trust gives a beneficiary with disabilities access to funds for medical care without disqualifying them from government programs like Medicaid. They provide a reliable means to handle ongoing medical expenses for your loved ones.
Revocable trusts, also known as living trusts, are flexible arrangements where the grantor (trust creator) can modify or terminate the trust during their lifetime. However, because the grantor retains control over the assets in a revocable trust, they are considered part of their estate.
Unfortunately, this means the trust assets can be targeted by creditors for debt collection, including medical bills. In other words, if you have a revocable trust and you owe a debt, creditors can potentially claim the assets within the trust to satisfy those debts. An experienced revocable trust attorney can help you understand the implications and protect your estate.
Given the nuances of estate planning and the different types of trusts available in New York, creating a trust without legal guidance is generally unwise. A knowledgeable trusts attorney can be an invaluable source of support. Our trust services include:
● Customizing trust documents to your needs
● Shielding assets from creditors
● Minimizing estate and gift taxes
● Assisting in transferring assets to the trust
● Establishing special needs trusts for disabled loved ones
● Explaining and choosing the right trust type
● Modifying trust documents as circumstances change
They can also advise you on how to protect your assets from creditors while ensuring compliance with relevant laws and regulations.
As you can see, understanding the interplay between medical bills and trusts is vital for anyone planning their estate, and we can help you learn more.
Contact A Monroe County Elder Law And Medicaid Planning Lawyer
To schedule a free consultation with an experienced Rochester estate planning lawyer, contact Weinstein & Randisi at 585-310-1578 or toll-free at 800-768-1780.
