Trusts & Estate Planning — New York State https://thewillsandtrusts.com/ New York State trusts & estate planning by Morgan Legal Group Fri, 19 Jun 2026 01:16:33 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.6 https://thewillsandtrusts.com/wp-content/uploads/2024/05/Legal-Network-Logo-150x150.png Trusts & Estate Planning — New York State https://thewillsandtrusts.com/ 32 32 What Does a Trustee Do? Fiduciary Duties Under New York Law https://thewillsandtrusts.com/what-does-a-trustee-do-fiduciary-duties-in-ny/ Fri, 19 Jun 2026 01:16:33 +0000 https://thewillsandtrusts.com/what-does-a-trustee-do-fiduciary-duties-in-ny/ A trustee is the person or institution legally responsible for managing the assets held in a trust for the benefit of others — and under New York law, that role carries some of the highest legal obligations a person can accept. In short, a trustee holds and administers trust property, makes prudent investment decisions, follows […]

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]]> Trust vs. Will in New York: The Key Differences https://thewillsandtrusts.com/trust-vs-will-in-new-york/ Fri, 19 Jun 2026 01:16:33 +0000 https://thewillsandtrusts.com/trust-vs-will-in-new-york/ The short answer: in New York, a will is a public document that must be filed and probated in the Surrogate’s Court after you die, while a trust is a private arrangement that can pass assets to your loved ones without probate at all. A will only takes effect at death; a trust can manage […]

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]]> Trust Administration After Death in New York https://thewillsandtrusts.com/trust-administration-after-death-in-new-york/ Fri, 19 Jun 2026 01:16:33 +0000 https://thewillsandtrusts.com/trust-administration-after-death-in-new-york/ When the person who created a trust dies, the successor trustee steps in to manage and ultimately distribute the trust’s assets — and in New York, that process is called trust administration, the private, court-free alternative to probate. Trust administration after death means gathering and valuing the trust property, paying the decedent’s final debts and […]

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]]> Irrevocable Trusts and the Medicaid 5-Year Look-Back in NY https://thewillsandtrusts.com/irrevocable-trusts-and-the-medicaid-look-back-in-ny/ Fri, 19 Jun 2026 01:16:33 +0000 https://thewillsandtrusts.com/irrevocable-trusts-and-the-medicaid-look-back-in-ny/ If you are wondering whether an irrevocable trust can protect your home and savings from nursing-home costs in New York, the short answer is yes — but only if it is created and funded at least five years before you apply for institutional Medicaid. Under New York’s Estates, Powers and Trusts Law (EPTL) Article 7, […]

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]]> How to Choose a Trustee for Your New York Trust https://thewillsandtrusts.com/how-to-choose-a-trustee-in-new-york/ Fri, 19 Jun 2026 01:16:33 +0000 https://thewillsandtrusts.com/how-to-choose-a-trustee-in-new-york/ Choosing the right trustee for your New York trust comes down to one practical test: select a person or institution who is trustworthy, financially responsible, organized, impartial toward your beneficiaries, and willing to be held to New York’s strict fiduciary standards under the Estates, Powers and Trusts Law (EPTL). The trustee you name will manage […]

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]]> Do Irrevocable Trusts Save New York Estate Tax? https://thewillsandtrusts.com/do-irrevocable-trusts-save-new-york-estate-tax/ Fri, 19 Jun 2026 01:16:33 +0000 https://thewillsandtrusts.com/do-irrevocable-trusts-save-new-york-estate-tax/ Yes — a properly drafted and funded irrevocable trust can save New York estate tax, because assets transferred into it are generally removed from your taxable estate. That is the short answer New Yorkers come to us for. The longer answer, which we explore below in a question-and-answer format, is that the savings only materialize […]

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]]> Trusts for Non-Citizen Beneficiaries in New York https://thewillsandtrusts.com/trusts-for-non-citizen-beneficiaries-in-new-york/ Tue, 26 May 2026 01:10:00 +0000 https://thewillsandtrusts.com/trusts-for-non-citizen-beneficiaries-in-new-york/ A plain-English New York guide to trusts for non-citizen beneficiaries and spouses, the QDOT fix, and when to involve an immigration attorney.

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