New York Trusts & Estate Planning in 2026: Your Questions, Answered

Most New Yorkers don’t come to estate planning with statutes memorized. They come with questions — practical, sometimes worried ones. Will my family have to go to court? Can I protect my home if I need nursing care? Will the state take a chunk of what I leave behind? This page is built around those real concerns, answering the questions we hear most often from clients across New York State — from Manhattan and Brooklyn to Long Island, Westchester, the Hudson Valley, and Upstate.

Morgan Legal Group, led by attorney Russel Morgan, Esq., helps families statewide build trusts and estate plans that actually do what they’re meant to do. Below, we walk through the questions clients ask first.

“What is a trust, and why would I need one?”

A trust is a legal arrangement where you (the grantor) transfer assets to a trustee, who manages them for your beneficiaries under rules you set. In New York, trusts are governed by the Estates, Powers and Trusts Law (EPTL) Article 7.

People create trusts for a few recurring reasons:

• To avoid probate — keeping assets out of the public Surrogate’s Court process.
• For privacy — a trust, unlike a will, is not filed in a public court record.
• For incapacity planning — a trustee can step in if you become unable to manage your own affairs.
• For tax reduction, asset protection, or Medicaid eligibility — using the right kind of trust.

The catch is that “the right kind” depends entirely on your goal. That’s the next question almost everyone asks. Learn more on our trusts overview page.

“What’s the difference between a revocable and an irrevocable trust?”

This is the single most common point of confusion. The short version: control versus protection. You generally can’t have both at once.

	Revocable Living Trust	Irrevocable Trust
Can you change or revoke it?	Yes — anytime while competent	No — generally cannot be amended
Avoids probate?	Yes	Yes
Privacy?	Yes	Yes
Saves NY estate tax?	No — assets stay in your taxable estate	Yes — assets removed from the taxable estate
Asset protection / Medicaid?	No	Yes — subject to the 5-year look-back
Best for	Probate avoidance, privacy, incapacity	Tax reduction, asset protection, Medicaid planning

A revocable living trust lets you keep full control — you can amend it or revoke it whenever you like. Its primary benefits are avoiding probate, privacy, and managing incapacity. What it does not do is save estate tax, because the assets remain part of your taxable estate. See our revocable living trust page for details.

An irrevocable trust gives up that control in exchange for real protection. Because you no longer own the assets, they can be removed from your taxable estate, shielded from certain creditors, and — critically for many New York families — positioned for Medicaid eligibility, subject to the five-year look-back period. Explore our irrevocable trust page to understand the trade-offs.

“Do I really need a trust, or is a will enough?”

A will and a trust do different jobs. A will must be filed and probated in the Surrogate’s Court — a public process that takes time and can invite challenges. A trust avoids probate entirely and stays private. Many New Yorkers use both: a trust to hold and pass major assets, and a “pour-over” will as a backstop. Our trust vs. will page breaks down which structure fits your situation.

“Will New York take estate tax from what I leave?”

For most families, no. But New York has a feature that traps the unwary — the so-called estate tax cliff.

• 2026 basic exclusion amount: $7,350,000. Estates at or below this owe no New York estate tax.
• The cliff: At 105% of the exclusion — $7,717,500 — the exemption vanishes. An estate that exceeds the cliff is taxed on its entire value, not just the amount above the threshold.

That cliff is exactly why planning matters. A married couple’s estate that drifts a few hundred thousand dollars over the line can owe tax on the whole amount. Irrevocable trusts and other strategies can keep an estate safely below it.

“How do I protect a child with disabilities?”

This is one of the most important — and most emotional — questions we handle. If a disabled loved one receives means-tested benefits like Medicaid or SSI, leaving them money directly can disqualify them. A Supplemental (Special) Needs Trust, authorized under EPTL 7-1.12, holds assets for the beneficiary without counting as their resource, preserving those benefits while still improving their quality of life. See our special needs trust page.

“What does a trustee actually have to do?”

Choosing a trustee is choosing someone the law holds to a high standard. Under New York law, a trustee owes fiduciary duties including:

• The prudent-investor standard — investing with care and skill (EPTL Article 11-A).
• The duty of loyalty — acting in the beneficiaries’ interests, not the trustee’s own.
• The duty to account — keeping records and reporting to beneficiaries.

Trustees in New York are entitled to commissions under the schedules set out in the SCPA and EPTL; the exact amount depends on the trust and its assets. Proper trust administration keeps a trustee compliant and protects the family from disputes.

Quick Answers

Does a revocable living trust save estate tax?
No. A revocable trust avoids probate and provides privacy and incapacity protection, but the assets remain in your taxable estate. Estate-tax savings require an irrevocable structure.

What is the Medicaid five-year look-back?
When you apply for Medicaid long-term care, New York reviews asset transfers made in the prior five years. Funding an irrevocable trust starts that clock, so timing matters — earlier planning means more protection.

Is a trust public like a will?
No. A will is filed and probated in the Surrogate’s Court, making it part of the public record. A trust is a private document that avoids probate.

What happens if my estate is just over the cliff?
At $7,717,500 (105% of the 2026 exclusion), New York’s exemption disappears entirely and the whole estate becomes taxable. Planning ahead can keep your estate below that line.

Can an irrevocable trust ever be changed?
Generally no — that permanence is what gives it tax and asset-protection power. There are limited mechanisms in some cases, which an attorney can review with you.

Talk to a New York Trusts Attorney

Every family’s answers are a little different. The best way to know which trust — if any — fits your goals is a focused conversation about your assets, your family, and your concerns. Attorney Russel Morgan and the Morgan Legal Group team serve clients across New York State.

Schedule your consultation with Russel Morgan, Esq.

This page is general information, not legal advice. New York estate planning depends on your specific facts; consult a qualified attorney before acting.