Trusts and Estates
The estate lawyer's role is to help a client arrange his or her financial affairs so that, upon the client's death, the client's assets are distributed exactly as he or she wishes and the tax consequences of distributing that property are minimized.
The law of estates and trusts governs the use of certain types of instruments, such as wills, living trusts, or charitable trusts, to provide for an orderly distribution of the assets and payment of any debts or liabilities of the estate. Lawyers who work in estate planning work closely with their clients, often over a period of many years, and tend to become close to their clients. They know a great deal about their clients’ financial matters and family relationships. The estate lawyer often becomes a true family counselor, helping the client work through both financial and personal issues.
Web Resources
- New York State Bar Association, Trusts and Estates Law Section
- American Bar Association, Section of Real Property, Trust and Estate Law
- Probate & Property Magazine