Top Lake Placid, NY Honorary Trust Lawyers Near You

Lake Placid Honorary Trust Information

Are You Considering Creating an Honorary Trust?

If you have a beloved pet you want to ensure is properly cared for after your death or you want to detail maintenance of cemetery plots, talk with a Lake Placid attorney who can set up an honorary trust for you. Through such trusts you can arrange for the care and maintenance of special places, rituals, or animal companions after you are gone.

How an Honorary Trust Works

With an honorary trust, you appoint a trustee to use the corpus of the trust for a designated purpose, such as the care and feeding of a pet or the care of a cemetery plot. Honorary trusts are not legal in every state, and where they are legal, the state law imposes rigid requirements and limitations. For example, in some states, an honorary trust can only be used to provide for pets and cemetery plots. Other states may allow the trust settler to create the trust to ensure rituals are followed, such as a mass being given according to specifications.

Best Time to Seek Legal Help

No matter what your legal issue may be, it is always best to seek legal help early in the process. An attorney can help secure what is likely to be the best possible outcome for your situation and avoid both unnecessary complications or errors.

Tips on Approaching an Initial Attorney Consultation

• Use the consultation as a means of gaining a better understanding of your legal situation.
• Ask the attorney how many cases similar to yours he/she has handled. An attorney's experience and knowledge can speak to their expertise (or lack of) in addressing your situation.
• Your attorney should be able to articulate roughly how long a case like yours will take to resolve and what sort of procedures to expect.
• Determine how comfortable you are working with the lawyer and/or law firm.

How much does it cost to hire an attorney?

In general, how much an attorney costs will often depend on these four factors: billing method and pricing structure, type of legal work performed, law firm prestige, and attorney experience. Depending on the legal issue you are facing, an attorney may bill you by the hour, settle on a flat fee, or enter into a contingency fee agreement. The type of legal work you need help with will also play a role in cost incurred.

Common legal terms explained

Plaintiff - a person or party who brings a lawsuit against another person(s) or party/parties in a court of law. Private persons or parties can only file suit in civil court.

Judgment - A decision of the court. Also known as a decree or order. Judgments handed down by the court are usually binding on the parties before the court.

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