A living trust is a mechanism for management of assets both during and after one’s lifetime that has certain advantages over a power of attorney or conservatorship. A trust can provide continuity of management of assets and can be set up to provide for distribution of assets upon the death of the beneficiary, or for management of the assets comprising the trust after the beneficiary dies. Other advantages are that a living trust may be used to save on estate taxes, and it provides a degree of confidentiality.
If you have any questions related to trusts in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.