Before your consultation, knowing which instrument fits your situation saves time — and often money. New York offers several paths under the Estates, Powers and Trusts Law (EPTL) Article 7, and the right choice turns entirely on your goals.
Which NY Trust — or Will — Is Right for You?
| Goal | Best Instrument | Key Trade-off |
|---|---|---|
| Avoid probate & keep affairs private | Revocable living trust | Does not reduce estate tax — assets stay in your taxable estate |
| Reduce NY estate tax (exclusion $7,350,000; cliff at $7,717,500) | Irrevocable trust | Grantor surrenders control; generally cannot be amended |
| Protect a disabled family member’s benefits (Medicaid/SSI) | Supplemental Needs Trust — EPTL § 7-1.12 | Strict rules; improper drafting voids benefit protection |
| Medicaid asset protection | Irrevocable Medicaid trust | 5-year look-back period applies |
| Simple, lower-cost succession | Will + trust administration | Public record; must be probated in Surrogate’s Court |
A trust vs. will comparison often reveals that most New Yorkers benefit from both — a pour-over will paired with a living trust. Every trustee, regardless of trust type, owes beneficiaries the prudent-investor standard under EPTL Article 11-A and a duty to account.
Schedule a Consultation
Book a 30-minute call with Russel Morgan, Esq. — serving clients throughout New York City, Long Island, Westchester, the Hudson Valley, and Upstate New York.
Explore our full trusts overview to continue your research.
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