Your New York Trust Questions — Answered by Morgan Legal Group

New Yorkers reach out to us with the same concerns again and again. Before you schedule a call, here are the answers that matter most.

What New Yorkers Ask Most

Do I actually need a trust, or is a will enough?
A will must pass through Surrogate’s Court — a public, time-consuming process. A trust avoids probate entirely, keeps your plan private, and can manage assets if you become incapacitated. See Trust vs. Will for a full comparison.

Which type of trust is right for me?

Trust Type	Primary Purpose	Can It Be Changed?
Revocable Living Trust	Probate avoidance, privacy, incapacity management	Yes — grantor retains full control
Irrevocable Trust	Estate-tax reduction, asset protection, Medicaid planning	Generally no
Special Needs Trust	Preserve Medicaid/SSI eligibility (EPTL § 7-1.12)	Depends on structure

Will a trust save me from New York estate tax?
Only an irrevocable trust can remove assets from your taxable estate. A revocable trust offers no tax benefit — assets remain fully subject to the NY estate tax, with a 2026 exclusion of $7,350,000 and a cliff at $7,717,500 where the entire exemption is lost.

How is a trustee held accountable?
Every trustee owes fiduciary duties under EPTL Article 11-A — the prudent-investor standard, undivided loyalty, and a duty to account. Learn more at Trust Administration.

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Russel Morgan, Esq. serves clients across New York City, Long Island, Westchester, the Hudson Valley, and Upstate New York.

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