A trust is a legal entity that holds and manages assets for the benefit of beneficiaries. Trusts exist as part of a comprehensive estate plan and are used to avoid or minimize estate taxes, take advantage of government programs for disabled individuals, establish distribution plans for children after divorce or death, and ensure assets are passed down according to current desires. Trusts can hold various types of property and are ideal for individuals with over $1 million in assets, disabled individuals, divorced or remarried clients, same-sex couples, and those with outdated estate plans.

1. What is a Trust?A look at the Basics TIMINS & LaMAGNA, LLP 399 Knollwood Road, Suite 300 White Plains, New York 10603 (914) 819-0663 www.tllawoffices.com _________________________________________________________________________________________ Attorney Advertising

2. Where do Trusts exist in our “Comprehensive Estate Plan”?

3. Why Use Trusts?

4. Parties to a Trust(Sometimes one person can be ALL THREE)

5. What Property Can a Trust “Own”?

6. Our Firm’s Ideal Clients Someone whose Family Member is Recently Deceased May be entitled to more money than they are being told Person or Couple with New Worth over $1 million Avoid or minimize New York Estate Taxes Disabled Clients / Clients with Disabled Children Take advantage of government programs (SSI, Medicaid) Divorced Clients / Clients in a Second Marriage Establish distributive plan for specific children / disputes Fix “loose ends” from the marriage Young Parents Establish choice of children’s guardians and establish financial safeguards Elderly Clients / Clients with Old Estate Plans Update estate plan to reflect current desires & tax rates Same-Sex Couples / Unmarried Couples – “Partners” “Partners” receive NOTING under State Law