Saratoga Wills and Trusts Lawyers
Serving clients in Saratoga, Albany, Warren, Washington, Schenectady, Rensselaer, Green, and Columbia
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The staff is extremely friendly and knowledgeable. They truly care about their clients and walk you through the process every step of the way. I highly recommend Jean and here team for any legal needs.
– Joseph B.
They were so kind and caring throughout the whole experience. Walked with me through everything. They made a difficult and painful time more manageable. I would recommend them to in a heartbeat. Best decision about the divorce I made.
– Kelli F.
Was a real advocate for me while going through my divorce. Responded to emails and calls promptly and guided me through the entire process. Fair, responsive and frankly a light during a tough time.
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Saratoga Wills and Trusts Lawyers
Trusts are legal instruments that hold and control assets, managing and distributing them for specific purposes. They provide tax relief, preserving the wealth you will want to access later or pass on to your heirs. But the dedicated Saratoga wills and trusts lawyers at Mahserjian & Mahserjian-Ortiz, PLLC understand that trusts are more. They are an extension of yourself: they contain your dreams and aspirations, uphold your values and priorities, and advance your goals and ambitions. For legal instruments to succeed on such a personal level, they need to be drafted specifically with you in mind.
New York wills and trusts lawyers dedicated to client service
Mahserjian & Mahserjian-Ortiz, PLLC takes a client-directed approach to trusts. We don’t try to sell you a template instrument; we listen and learn as much about your circumstances as you wish to share, then carefully select and craft the trust documents you need to address your concerns. For more than 20 years, we’ve assisted clients with a variety of trusts, for a multitude of purposes, including:
- Revocable living trusts
- Special needs trusts
- QTIP trusts
- Irrevocable life insurance trusts
- Miller trusts
- Charitable remainder trusts
- Descendant’s trusts
- Heritage trusts
- Pet trusts
We believe that if you’re taking the time to talk to us, the least we can do is listen. We have two ears and only one mouth, and our clients seem to favor that ratio. Together, we can design the proper combination of trusts to meet all your financial needs.
Serving clients in Saratoga, Albany, Warren, Washington, Schenectady, Rensselaer, Green, and Columbia
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Frequently Asked Wills and Trusts Questions
What is the difference between a will and a trust?
A will directs asset distribution after death and goes through probate court, while a trust can manage and distribute assets during life and after death, often avoiding probate. Trusts provide privacy, immediate asset management upon incapacity, potential tax benefits, and ongoing asset protection. Wills are simpler and less expensive initially, but trusts offer more comprehensive planning for larger estates or complex family situations.
Do I need both a will and a trust for my estate plan?
Most comprehensive estate plans include both a will and a trust. Even with a revocable living trust, you need a pour-over will to handle assets not transferred to the trust, name guardians for minor children, and provide backup instructions. The trust handles major assets like real estate and investments, while the will covers personal items, final wishes, and serves as a safety net for overlooked assets.
How much does it cost to create a will and trust in New York?
Estate planning costs vary based on complexity, but simple wills typically range from $500-$1,500, while comprehensive estate plans with trusts range from $2,000-$8,000 or more. Factors affecting cost include number of trusts, tax planning complexity, business interests, asset protection needs, and family circumstances. Investment in proper estate planning often saves thousands in probate costs and taxes.
What happens if I die without a will in New York?
Dying without a will (intestate) means New York state law determines asset distribution, which may not match your wishes. Your spouse and children inherit in predetermined percentages, unmarried partners receive nothing, and the court appoints an administrator. This process is typically more expensive, time-consuming, and provides no control over guardianship decisions for minor children or special family circumstances.
How often should I update my estate plan?
Review your estate plan every 3-5 years or after major life events including marriage, divorce, births, deaths, significant asset changes, business changes, or moves to different states. Tax law changes may also require updates. Regular reviews ensure your plan reflects current wishes, family circumstances, asset values, and takes advantage of new planning opportunities or tax benefits.
Can a trust help me avoid estate taxes?
Yes, various trusts can significantly reduce estate taxes. Irrevocable life insurance trusts remove life insurance from taxable estates, charitable trusts provide tax deductions and reduce estate values, and generation-skipping trusts minimize transfer taxes to grandchildren. Grantor retained annuity trusts (GRATs) and qualified personal residence trusts (QPRTs) can transfer asset appreciation tax-free. Proper trust planning can save substantial estate taxes for larger estates.
Do I need a wills and trusts lawyer for my estate planning in Saratoga?
Yes, proper estate planning requires specialized legal expertise to navigate complex New York laws, tax implications, and family dynamics. Mahserjian & Mahserjian-Ortiz, PLLC provides comprehensive estate planning services including wills, trusts, tax planning, asset protection, and business succession planning. Our experienced attorneys ensure your estate plan is legally sound, tax-efficient, and properly executed to protect your family’s future and achieve your legacy goals.
Protecting your interests with a clear will
At the minimum, every person should have a last will and testament to prevent your estate from stagnating in probate, and wasting away under court costs and legal fees. Your will also allows you to express your preferences for the care of your minor children and any dependent adults. But other instruments are also necessary to secure your future: a living will, a durable power of attorney and a medical power of attorney offer substantial safeguards should you become incapacitated through illness or the infirmity of age. Taking the time now to meet with our attorneys will ensure that your intentions are honored in the future.
Experienced wills and trusts lawyers providing personalized remedies to personal financial issues
Contact our reliable trust establishment attorneys
To speak with the skilled Saratoga County wills and trusts lawyers at Mahserjian & Mahserjian-Ortiz, PLLC, call us at (518) 383-1182. We will be happy to answer your questions and schedule an initial appointment at our Clifton Park office. You can also schedule an appointment by contacting us online.