Trusts & Estate Planning in New York

Planning for the future means protecting the people you care about most. Trusts and estate planning are essential legal tools that help ensure your assets are distributed according to your wishes, minimize potential tax burdens, and reduce stress for your loved ones. At Reitano Law, we guide families throughout the five boroughs through the complexities of estate planning with compassion and clarity.

What Is Estate Planning?

Estate planning is the process of organizing your personal, financial, and healthcare affairs in advance, to ensure your preferences are honored both during your life and after your passing. A comprehensive estate plan typically includes a will, one or more trusts, powers of attorney, and healthcare directives.

Understanding Trusts

A trust is a legal arrangement that allows a third party (the trustee) to hold and manage assets on behalf of a beneficiary. Trusts can be used to avoid probate, provide for children or individuals with special needs, protect assets from creditors, and plan for Medicaid eligibility. In New York, common types of trusts include:

Revocable Living Trusts

These allow you to retain control over your assets during your lifetime, with the flexibility to change or revoke the trust at any time.

Irrevocable Trusts

Once established, these cannot be changed without the beneficiary’s consent, offering greater asset protection and potential tax advantages.

Supplemental Needs Trusts

Designed for individuals with disabilities, these trusts help preserve eligibility for government benefits while providing additional financial support.

Testamentary Trusts

Created through your will, these take effect only after your death.

Why Estate Planning Matters

Whether you are planning for your own future or assisting an aging parent, estate planning offers critical benefits:

  • Ensures your wishes are followed
  • Provide for who will care for your minor children if you die prematurely
  • Protects your family from unnecessary legal delays or disputes
  • Minimizes estate taxes and court costs
  • Helps manage your affairs in case of illness or incapacity
  • Allows for charitable giving or legacy planning

When Should You Create or Update an Estate Plan?

It’s never too early to create an estate plan. Major life events like marriage, the birth of a child, retirement, or the purchase of property are good times to begin or revisit your planning documents. Changes in New York laws or your family dynamics also warrant a review of your plan.

How Reitano Law Can Help

At Reitano Law, we provide personalized estate planning services tailored to your unique goals and family situation. Our experienced team will take the time to explain your options, draft clear and enforceable documents, and offer peace of mind for the road ahead.

Serving the City of New York and neighboring communities, we bring the legal knowledge and compassionate support you need to make informed decisions.

Contact Reitano Law today to schedule a consultation and begin building your estate plan with confidence.

Please note all messages are replied to within 72 hours during normal business hours. For urgent inquiries, please email Shanna Naugle or Kathy Malta.

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Top Trusts & Estate Planning Questions

Frequently Asked Questions

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If you pass away without a will (called dying "intestate"), New York's laws decide how your assets are distributed. Typically, this means your closest relatives inherit according to a set legal formula, which may not reflect your actual wishes.

Yes. Assets placed in a properly funded trust can bypass the probate process, saving time, money, and preserving privacy for your beneficiaries.

Not at all. Trusts can benefit individuals at many income levels, especially those looking to plan for long-term care, support loved ones with special needs, or avoid probate.

It’s wise to review your estate plan every few years or after major life events such as a birth, marriage, divorce, or change in financial circumstances.

Yes. Documents like wills and revocable trusts can typically be updated as your needs evolve. Working with an attorney ensures changes are made legally and effectively.

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