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New York & North Carolina

Comprehensive Trust Services in New York & North Carolina

Secure Your Legacy with Trust Lawyers in NY & NC

The trust services of Parisi, Coan & Saccocio, PLLC, can help you plan for the future, protect your assets, and ensure your beneficiaries are taken care of. Our staff provides clients in New York and North Carolina with exceptional, personalized trust law representation, from creating specific documents to administering trusts. 

Understanding Trusts: A Guide to Asset Protection

A trust fund is a legal entity designed to hold property or assets for another person, group, or organization. Trust funds are managed by a neutral third party called the trustee, and can hold various assets such as property, money, or stocks.

Trust funds can be powerful estate planning tools presenting many advantages. Depending on the type of trust established, it can be used for a range of purposes, including:

  • Reducing estate taxes
  • Reducing gift taxes
  • Ensuring children and grandchildren under 18 will be beneficiaries of an estate
  • Safeguarding the financial future of family members with special needs
  • Protecting assets from lawsuits
  • Protecting assets from creditors

Diverse Trust Options: Find the Right One for You

Parisi, Coan & Saccocio, PLLC provides clients with experienced legal guidance, clarification, and ongoing support in trust and estate matters including:

The Mechanics of Trust Funds: How They Operate

Trusts generally involve three parties, the grantor, the beneficiary, and the trustee.  The grantor is the person who is creating the trust, contributes the assets, and determines how the trust should be managed. There are different types of trusts that can be created, including revocable and irrevocable trusts. 

How the trust fund will work depends on the type of trust the grantor has created and the rules they have specified. The beneficiary is the individual, group, or organization the trust fund has been established for. The trustee is a neutral third party entrusted to manage trust.

Establishing a Trust Fund: A Step-by-Step Process

Starting a trust fund is an excellent way to provide financial security and stability for your loved ones.

There are a few steps to consider when setting up a trust fund: 

  • Step 1: You'll need to choose a type of trust, such as a living trust, a testamentary trust, or an irrevocable trust. Each type of trust offers different benefits and drawbacks, so it's important to research each one in detail and choose the one that best fits your needs.
  • Step 2: You'll need to name a trustee, or trustees. This person will be responsible for overseeing the trust and ensuring that it is carried out according to your wishes. You can also name beneficiaries of the trust, who will receive payments from the trust upon its completion. 
  • Step 3: To properly establish your trust and ensure it's legally enforceable, you must complete the necessary documents and execute them in accordance with your state's laws. In many states, this means signing your trust document while being witnessed by two other individuals who must also sign the document.
  • Step 4: In order for your trust to operate as intended, it must be funded with assets. Though transferring assets to a trust can be a time-consuming process, it's a crucial step in the estate planning process. To begin, you should reach out to the financial institutions that manage your assets. For example, if you want to transfer your home into a trust, you'll need to execute a new deed with the trust listed as the owner. Similarly, to transfer ownership of a bank account, you can get in touch with your financial institution to initiate the process.

Ready to Plan Your Future? Contact Our Trust Attorneys in NY & NC Today914-228-7448 or schedule your consultation online !

Our Results

  • Client Won Custody Dying Without A Will
    As many of you may know legendary singer/songwriter Aretha Franklin died in 2018 without leaving a will. Other wealthy celebrities such as Prince have done the same. This can lead to many types of unwanted consequences. As an example, the T&E department at PCS is currently ...
  • Son Must Repay Mother’s Estate Estate Case
    A local man and his then-wife used undue influence on his elderly mother to clean out the woman’s bank accounts before she passed away, a Schenectady County Surrogate’s Court ruled this week. The verdict, in a case brought by the woman’s two other sons, means the man and his ...
  • Brothers Inheritance Restored Estate Dispute
    After much litigation including more than a dozen depositions, obtaining numerous medical records and various other relevant documents, expert medical testimony, and the beginnings of trial preparation, an estate dispute was settled on behalf of our client for $700,000. Our ...
  • Daughter Settles Dispute Favorably Estate Matter
    On the day of trial our client successfully resolved an estate matter whereby she received 60% of available funds of the estate. Interestingly, the case involved an admission by both brother and sister that their father had upwards of $200,000 in cash at the time of death (a ...
  • Surviving Spouse Inheritance Returned Large Assets Diverted to Wrong Beneficiary
    We are proud to have earned a seven-figure ruling in favor of a surviving spouse. In this particular case, two large assets were diverted through a complex trust and funding formula to the wrong beneficiary. Parisi, Coan & Saccocio, PLLC, successfully argued that the ...

Client Stories

Our Success in Their Own Words
    "I was very happy with all of Mr. Parisi’s work."
    I would absolutely hire him again
    - K.R.
    "Gerard was very helpful to me."
    He was very attentive to details and responsive to all my questions
    - L.I.
    "I highly recommend him!"
    I was very happy with the legal services and advice that were provided by him and his office
    - B.
    "I couldn’t have asked for anyone better to assist me."
    You were always available whether it be a weekday or weekend, which helped a great deal due to my busy schedule
    - N.D.
    "He was always very informative and helpful."
    Gerard handled my father’s estate
    - P.F.
    "Thank you, Gerard, for representing me."
    Gerard fought to keep the original trust in place and I remained as her trustee
    - K.B.
    "Gerard helped make a very hard situation a little easier for me."
    I would strongly recommend using Gerard knowing that others can have the same experience I did
    - A.M.
    "I would highly recommend them."
    Parisi Coan & Saccocio have handled many estate planning needs for myself and my clients over the course of the last 5 years
    - Arthur F.

What Sets Us Apart?

Over 65 Years of Experience
  • Personalized Guidance From Start to Finish
    We are very selective about the cases we take on to provide you with the highest quality representation.
  • Attorneys and Certified Public Accountants
    Unique knowledge for accountings, tax laws, asset valuations and complex estates.
  • Exceptional Estate and Trust Law Experience
    Over 65-years collective experience in estate and trust planning, administration, litigation, and guardianship.

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