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Trusts

There are many types of “Trusts” available to New York State residents, some of which are “Revocable” and others “Irrevocable.” The person creating the Trust is the Grantor, while the person who controls and manages the Trust assets is the Trustee. The Trustee is bound to manage the assets according to the terms of the Trust established by the Grantor. For Revocable Trusts, the Grantor is often the initial Trustee or Co-Trustee. For Irrevocable Trusts, the Trustee is Grantor is generally not the Trustee, for several reasons.

 

 

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Revocable Trusts – Lifetime or Living Trust

Irrevocable Trusts

Testamentary versus Inter Vivos Trusts

 

The Witecki Law Office
(518) 372-2827
8 South Church Street
Schenectady, NY 12305
[directions]

 
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