Creating Irrevocable Trusts Guide

In New York, there are several types of trusts you can consider:
- Revocable Trusts: Can be altered or canceled by the grantor during their lifetime.
- Irrevocable Trusts: Cannot be changed once established, offering more asset protection.
- Living Trusts: Established during the grantor's lifetime to manage assets.
- Testamentary Trusts: Created through a will, effective after death.
Would you like more details on any specific type of trust or the process involved in setting one up?

Here’s some general information on setting up an irrevocable trust in New York:
- Irrevocable Trusts: Once established, they cannot be altered, offering more asset protection.
- Asset Protection: Protects assets from creditors and may help with estate tax planning.
- Legal Process: Involves drafting trust documents and adhering to state laws.
Would you like guidance on how to start the process or connect with a local attorney for specific legal advice?