If you are starting to think about a trust, a will, or how to protect what you have built, you probably have more questions than answers. That is normal. Estate planning is unfamiliar territory for most people, and the language around it — probate, revocable, look-back, cliff — can make a simple goal feel complicated.
This page collects the questions we hear most often from New Yorkers across the state: in New York City, on Long Island, in Westchester, throughout the Hudson Valley, and Upstate. The answers below are grounded in New York’s Estates, Powers and Trusts Law (EPTL) Article 7 and related statutes. They are meant to orient you — not to replace advice tailored to your family and your assets.
When you are ready to talk through your own situation, attorney Russel Morgan, Esq. and the team at Morgan Legal Group are available statewide. You can schedule a consultation here.
The Short Version: Key New York Facts for 2026
| Question | New York Answer (2026) |
|---|---|
| What law governs trusts? | EPTL Article 7 |
| Does a revocable trust avoid probate? | Yes |
| Does a revocable trust save estate tax? | No |
| Estate-tax basic exclusion | $7,350,000 |
| Estate-tax “cliff” (105% of exclusion) | $7,717,500 |
| Medicaid trust look-back | 5 years |
| Where are wills probated? | Surrogate’s Court |
| Special needs trust authority | EPTL 7-1.12 |
1. What is a trust, and how is it different from a will?
A trust is a legal arrangement where one person (the grantor) transfers assets to a trustee to hold and manage for the benefit of named beneficiaries. A will, by contrast, is a set of instructions that only takes effect after you die — and only after it is filed and validated.
The practical difference comes down to probate and privacy. A will must be probated in the Surrogate’s Court, a public process. A properly funded trust generally avoids probate and keeps the terms of your plan private. Most thoughtful New York plans use both tools together. See our trust vs. will comparison for a side-by-side breakdown.
2. What does a revocable living trust actually do for me?
A revocable living trust lets you keep full control during your lifetime — you can amend it or revoke it whenever you wish. Its three primary benefits are:
- Avoiding probate, so assets pass to your beneficiaries without Surrogate’s Court delay;
- Privacy, since the trust is not a public filing; and
- Incapacity management, because a successor trustee can step in seamlessly if you become unable to manage your own affairs.
One thing it does not do is save estate tax. Because you retain control, the assets remain part of your taxable estate. Learn more on our revocable living trust page.
3. If a revocable trust doesn’t save estate tax, what does?
An irrevocable trust. Because you give up the power to amend or revoke it, the assets are generally removed from your taxable estate. That trade-off is what makes irrevocable trusts the right tool for estate-tax reduction, asset protection, and Medicaid planning.
The catch is permanence: an irrevocable trust generally cannot be changed once established, so it must be drafted carefully. Our irrevocable trust page explains how these structures are built.
4. How does the New York estate tax — and the “cliff” — work in 2026?
For 2026, New York provides a basic exclusion of $7,350,000. Estates below that figure owe no New York estate tax.
The danger is the “cliff.” Once an estate exceeds 105% of the exclusion — $7,717,500 — the exemption does not phase out gradually. It disappears entirely, and the whole estate becomes taxable.
Plain English: Going slightly over the line can cost far more than the overage itself. Estates approaching the cliff should plan deliberately. New York’s estate-tax thresholds are published by the state at tax.ny.gov.
5. Can a trust help me qualify for Medicaid long-term care?
Yes — with planning and patience. An irrevocable trust can shelter assets so they are not counted for Medicaid eligibility. But New York applies a 5-year look-back: transfers made within five years of applying for nursing-home Medicaid can trigger a penalty period.
Because of that window, Medicaid asset-protection planning works best when it is done early, well before care is needed. A revocable trust does not protect assets for Medicaid purposes, because you still control them.
6. What is a special needs trust, and who needs one?
A supplemental (special) needs trust (SNT), authorized under EPTL 7-1.12, lets you provide for a disabled loved one without disqualifying them from means-tested benefits like Medicaid and SSI. The trust pays for extras that improve quality of life — therapies, education, travel, technology — while the public benefits remain intact.
If you have a child or relative with a disability, an SNT is often the single most important piece of the plan. See our special needs trust page for details.
7. What are my trustee’s duties under New York law?
A trustee is a fiduciary and is held to strict standards. Under New York law, a trustee must observe:
- the prudent-investor standard (EPTL Article 11-A), managing trust investments with care and diversification;
- a duty of loyalty, acting solely in the beneficiaries’ interest and avoiding self-dealing; and
- a duty to account, keeping records and reporting to beneficiaries.
Trustee commissions are set by statutory schedules under the SCPA and EPTL — we do not quote a flat fee, because the figure depends on the trust. Choosing the right trustee matters as much as choosing the right trust. Our trust administration page walks through what the role involves.
8. Do I still need a will if I have a trust?
In almost every case, yes. Even with a fully funded trust, a “pour-over” will acts as a safety net for any asset that was never transferred into the trust, and it is where you name a guardian for minor children. The two documents work together; one is not a substitute for the other.
9. Which kind of trust is right for me?
It depends on your goal. As a starting point:
- Want to avoid probate and keep control? A revocable living trust.
- Want to reduce estate tax or protect assets / plan for Medicaid? An irrevocable trust.
- Providing for a disabled beneficiary? A special needs trust.
Most families benefit from a combination. Our trusts overview lays out the full menu of options available under EPTL Article 7.
10. How do I get started in New York?
Start with a conversation. Bring a rough picture of your assets, your family, and what keeps you up at night. From there, we design a plan that fits New York law and your goals — whether you are in the five boroughs, the suburbs, or Upstate.
Ready to talk? Schedule a consultation with Russel Morgan, Esq.
This page is general information about New York law, not legal advice. Statutes and exemption figures change; consult a New York estate-planning attorney about your specific situation. You can review EPTL Article 7 at nysenate.gov or law.justia.com.
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