New York Trust & Will Lawyers: A Plain-English Guide for 2026

If you are new to estate planning, the vocabulary alone can feel like a foreign language — revocable, irrevocable, fiduciary, look-back, exclusion. The good news is that the core ideas are simpler than they sound, and you do not need to master every term to make sound decisions. This page is a clear, statewide overview for New Yorkers who want to understand how trusts and wills actually work before they sit down with an attorney.

Morgan Legal Group helps families across New York — from New York City and Long Island to Westchester, the Hudson Valley, and Upstate — put plans in place that protect what they have built. Attorney Russel Morgan, Esq. and our team draft documents grounded in New York’s Estates, Powers and Trusts Law (EPTL), the statute that governs every trust created in this state.

What a Trust Actually Does

A trust is a legal arrangement where one person (the grantor) places assets under the control of a trustee, who manages them for the benefit of one or more beneficiaries. Think of it as a private set of instructions that tells someone you trust how to hold and distribute your property — both during your life and after.

The most common reasons New Yorkers create trusts are straightforward: to avoid the public, court-supervised probate process; to keep their affairs private; to plan for a possible loss of mental capacity; and, in some cases, to reduce estate tax or protect assets. Which type of trust fits depends entirely on your goal.

Learn more on our trusts overview page.

The Main Types of New York Trusts

New York recognizes several trust structures under EPTL Article 7. Here is how the most common ones compare.

Trust Type	Can You Change It?	Primary Purpose	Estate-Tax Savings?
Revocable living trust	Yes — amend or revoke anytime	Avoid probate, privacy, incapacity planning	No
Irrevocable trust	Generally no	Estate-tax reduction, asset protection, Medicaid planning	Yes (assets leave the estate)
Supplemental / Special Needs Trust	Limited	Protect benefits for a disabled beneficiary	Varies by structure

Revocable Living Trust

A revocable living trust lets the grantor keep full control. You can amend it, add or remove assets, or revoke it entirely while you are alive and competent. Its main benefits are that it avoids probate, keeps your estate private, and provides for seamless incapacity management if you become unable to handle your own affairs.

One important point that surprises many people: a revocable trust does not save estate tax. Because you retain control, the assets remain part of your taxable estate. See our revocable living trust page for details.

Irrevocable Trust

An irrevocable trust generally cannot be amended once it is signed. In exchange for giving up that control, you gain powerful planning tools: estate-tax reduction, asset protection, and Medicaid planning. Because the assets are no longer legally yours, they can fall outside your taxable estate.

The trade-off is the five-year look-back: for Medicaid eligibility purposes, transfers into certain irrevocable trusts are scrutinized for the five years before you apply. This makes timing critical. Our irrevocable trust page explains the planning windows.

Supplemental / Special Needs Trust

A Supplemental Needs Trust (SNT), authorized by EPTL 7-1.12, lets a family provide for a disabled loved one without disqualifying them from means-tested benefits such as Medicaid and SSI. The trust pays for extras that improve quality of life while preserving eligibility. Read more on our special needs trust page.

Trust vs. Will: What’s the Difference?

A will and a trust are not interchangeable, and many families use both. The cleanest way to understand the difference is to look at what happens after death.

• A will is public and must be probated. It is filed and validated in the Surrogate’s Court before assets can pass to your heirs. The process is part of the public record.
• A trust avoids probate and stays private. Assets titled in a properly funded trust pass directly to beneficiaries under the trustee’s management — no court, no public filing.

A will is still essential for naming guardians for minor children and for catching any assets you did not move into your trust. Most well-built plans pair a “pour-over” will with a living trust. Our trust vs. will page walks through which combination fits your situation.

What a Trustee Must Do

Choosing a trustee is one of the most consequential decisions in any plan, because trustees owe strict fiduciary duties under New York law:

• Prudent-investor standard — trustees must invest and manage trust assets prudently, balancing risk and return, under EPTL Article 11-A.
• Duty of loyalty — the trustee must act solely in the beneficiaries’ interest, never self-dealing.
• Duty to account — the trustee must keep records and report to beneficiaries on how the trust is managed.

Trustees are entitled to commissions under the schedules set out in New York’s SCPA and EPTL; the exact amounts depend on the trust and the statute. Our trust administration page explains what serving as a trustee involves.

The 2026 New York Estate Tax Cliff

New York has its own estate tax, separate from the federal one, and it contains a trap that catches the unprepared. For 2026:

• The basic exclusion amount is $7,350,000. Estates at or below this figure generally owe no New York estate tax.
• New York applies a “cliff” at 105% of the exclusion — $7,717,500. An estate that exceeds the cliff loses the entire exemption and is taxed on every dollar, not just the excess.

This cliff is why planning matters even for families who feel they are “close to the line.” Moving assets into the right structure before the cliff applies can preserve the full exemption. You can review the current figures at the New York Department of Taxation and Finance.

Frequently Asked Questions

Does a revocable living trust lower my estate tax?

No. Because you keep the power to amend or revoke it, the assets remain in your taxable estate. A revocable trust is about avoiding probate, privacy, and incapacity planning — not tax savings. Estate-tax reduction generally requires an irrevocable structure.

What is the five-year look-back?

For Medicaid eligibility, New York reviews asset transfers made in the five years before you apply for long-term-care benefits, including transfers into certain irrevocable trusts. Planning early — before you need care — is the key to making this tool work.

Do I still need a will if I have a trust?

Usually, yes. A “pour-over” will catches any assets you did not retitle into the trust and lets you name guardians for minor children. A trust handles privacy and probate avoidance; a will handles the gaps.

What happens if my estate is just over the cliff?

If your taxable estate exceeds $7,717,500 in 2026, New York taxes the entire estate rather than only the amount over the exclusion. Advance planning can keep an estate below the cliff and preserve the full exemption.

Who can serve as my trustee?

You may name an individual you trust, a professional fiduciary, or a corporate trustee. Whoever you choose must follow the prudent-investor standard, the duty of loyalty, and the duty to account to beneficiaries.

Talk to a New York Trust & Will Attorney

Estate planning is not one-size-fits-all. The right mix of trusts and a will depends on your family, your assets, and your goals. Attorney Russel Morgan, Esq. and Morgan Legal Group serve clients statewide and can help you build a plan that fits.

Schedule a consultation with Russel Morgan, Esq.