Most estate-planning sites tell you what each trust is. This page tells you how they stack up against each other — so your appointment with attorney Russel Morgan, Esq. starts with clarity, not confusion.
Head-to-Head: NY Trust Types at a Glance
| Trust Type | Can Be Amended? | Avoids Probate? | Reduces NY Estate Tax? | Medicaid Protection? | Key Statute |
|---|---|---|---|---|---|
| Revocable Living Trust | Yes | Yes | No | No | EPTL Art. 7 |
| Irrevocable Trust | Generally no | Yes | Yes | Yes (5-yr look-back) | EPTL Art. 7 |
| Supplemental Needs Trust | Varies | Yes | Situational | Preserves Medicaid/SSI | EPTL 7-1.12 |
Why the Distinction Matters in 2026
New York’s estate-tax exclusion sits at $7,350,000 — but the cliff rule means estates exceeding 105% of that threshold ($7,717,500) lose the entire exemption. A revocable trust offers privacy and skips Surrogate’s Court probate yet does nothing to move assets out of your taxable estate. An irrevocable trust can shift assets below the cliff — but you surrender control. Every trustee, regardless of trust type, owes beneficiaries a prudent-investor standard and duty to account under EPTL Article 11-A.
Trust vs. will? A will is public record and requires probate; a trust is private and bypasses it — the trade-off depends on your assets and family dynamics.
The right structure depends on your estate size, family situation, and long-term goals — not a one-size-fits-all template.
Book a 30-minute strategy session with Russel Morgan, Esq.
Further reading from Morgan Legal Group: how an irrevocable trust works.