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.
Further reading from Morgan Legal Group: how trusts work in New York.