Mullen and Iannarone, P.C.
Serving the legal needs of corporations, individuals and
families of Suffolk County since 1972

May 2015 Archives

Making changes to an irrevocable trust

New York residents may be aware that an irrevocable trust can often be used to pass down assets without paying federal estate tax. They might also be interested to learn that, despite its name, it may be possible to change certain aspects of an irrevocable trust during an individual's lifetime.

Trusts as life insurance beneficiaries in New York

Many New York residents have life insurance policies in which family members have been designated as the beneficiaries. They should be aware that in some cases, it may be smart to instead establish a trust with the intended recipient named as the beneficiary to it, then naming the trust as the beneficiary of the life insurance policy.