Trust Attorney in Valley Stream, NY

Protect Your Family's Legacy Before It's Too Late

Your life savings shouldn’t disappear into nursing home costs. Get the trust attorney guidance that keeps your assets in your family’s hands.

Living Trust Lawyer Valley Stream

Your Assets Stay Protected, Your Family Stays Together

When you set up the right trust, you’re not just protecting money. You’re protecting your family from the stress, confusion, and conflict that comes when someone gets sick or passes away without proper planning.

Your home stays in the family instead of being sold to pay for care. Your children inherit what you worked for instead of watching it disappear to legal fees and nursing home bills. Your spouse has security instead of scrambling to figure out Medicaid rules during a crisis.

The peace of mind is immediate. You know your wishes will be followed exactly. You know your family won’t have to guess what you wanted or fight over decisions when you can’t make them yourself.

Valley Stream Estate Planning Attorney

Long Island Families Rely On Us With Their Most Important Decisions

We have been helping Valley Stream families navigate the complex world of trusts and estate planning for years. We understand that Long Island presents unique challenges – from high property values to expensive long-term care costs.

We serve families who are facing major life transitions: aging parents, illness, disability, or the loss of a loved one. We know these aren’t just legal matters – they’re deeply personal family situations that require patience, compassion, and clear guidance.

What sets us apart is our commitment to accessibility. We offer home, hospital, and nursing home visits because we understand that not everyone can make it to a law office. We provide bilingual services in Spanish and Italian, recognizing the diverse needs of Long Island families.

Trust Creation Process Valley Stream

Simple Steps to Protect Everything You've Built

The process starts with understanding your specific situation. Every family is different, and cookie-cutter solutions don’t work when you’re dealing with real estate values like Valley Stream’s median home price of over $750,000.

First, we’ll assess your assets, your family dynamics, and your goals. Do you want to protect your home from Medicaid? Are you worried about a child with special needs? Do you have concerns about family members who might not handle money well?

Next, we’ll explain your options in plain English. Living trusts, irrevocable trusts, asset protection strategies – we’ll tell you what each one actually does and why it might or might not make sense for your situation.

Then we’ll draft the documents and walk you through every detail. You’ll understand exactly what you’re signing and how it protects your family. We’ll handle the legal technicalities while keeping you informed every step of the way.

Ready to get started?

Explore More Services

About Fratello Law

Get a Free Consultation

Asset Protection Trust Valley Stream

Comprehensive Trust Services for Long Island Families

Living trusts help you avoid probate, which in New York can take months or even years. Your family gets immediate access to assets instead of waiting for court approval. Everything stays private instead of becoming public record.

Asset protection trusts shield your savings from nursing home costs. On Long Island, where three years of care can cost $600,000, this planning can save your family’s entire inheritance. The key is acting before you need care – once you’re in a nursing home, it’s often too late.

Medicaid planning trusts allow you to qualify for benefits while protecting assets for your spouse and children. New York’s Medicaid rules are complex, but with proper planning, you can preserve your home and savings while still getting the care you need.

Special needs trusts protect disabled family members without jeopardizing their government benefits. This is crucial for families with children or grandchildren who receive SSI or Medicaid – the wrong inheritance structure can disqualify them from essential programs.

How much does it cost to set up a living trust in Valley Stream?

Trust costs vary based on your specific situation, but most families find the investment pays for itself by avoiding probate fees and protecting assets from nursing home costs. A typical living trust setup ranges from a few thousand dollars to more depending on complexity. Compare that to probate costs, which can easily reach 3-5% of your estate value. On a $750,000 Valley Stream home, that’s $22,500-$37,500 in probate fees your family could avoid entirely. Add in the potential $600,000 nursing home costs that proper planning can protect against, and the trust becomes one of the most sound investments you’ll ever make. The key is getting accurate pricing based on your actual needs, not generic quotes. We provide transparent fee discussions upfront so you can make informed decisions about protecting your family’s future.

Can I still control my assets after putting them in a trust?

With a revocable living trust, you maintain complete control over your assets during your lifetime. You can buy, sell, refinance, or change anything you want. You’re the trustee, so you make all the decisions just like you do now. The trust only takes effect when you become incapacitated or pass away. Until then, it’s like having a backup plan that’s ready to go but doesn’t interfere with your daily life. You can even revoke the entire trust if you change your mind. This is different from irrevocable trusts used for asset protection, where you do give up some control in exchange for protection from creditors and nursing home costs. The choice depends on your priorities – maintaining control versus protecting assets from potential future expenses.

What happens to my trust if I move out of New York?

Most trusts are designed to work across state lines, but moving can create complications that need professional attention. Different states have different trust laws, tax rules, and Medicaid requirements that could affect your planning. The good news is that a properly drafted trust usually doesn’t need to be completely redone when you move. However, you’ll likely need to review beneficiary designations, update your estate plan for new state laws, and possibly adjust asset protection strategies based on your new state’s rules. If you’re planning to retire to Florida, for example, that state’s homestead exemption and Medicaid rules are different from New York’s. A trust review before you move helps ensure your protection continues seamlessly in your new location.

How do I know if I need a trust or just a will?

If you own a home in Valley Stream or have assets worth more than $50,000, a trust usually makes more sense than just a will. Wills have to go through probate court, which in New York means delays, costs, and public records of your family’s business. Trusts avoid probate entirely. Your family gets immediate access to assets, everything stays private, and the costs are typically much lower. For Long Island homeowners dealing with property values over $750,000, the probate savings alone often justify the trust setup cost. Trusts also provide better protection if you become incapacitated. A will only works after you die, but a trust can manage your affairs if you’re unable to do so yourself. Given the high cost of long-term care on Long Island, this protection becomes crucial for preserving your family’s inheritance.

Can a trust help me qualify for Medicaid while protecting my home?

Yes, but the timing and type of trust matter enormously. Medicaid has a five-year lookback period, so transfers to irrevocable trusts need to happen well before you need care. If you transfer assets too close to needing Medicaid, you could face penalty periods where you’re ineligible for benefits. An irrevocable trust can protect your home and other assets from Medicaid recovery while still allowing you to live in the house. However, you give up the ability to sell or refinance without trustee approval. It’s a trade-off between control and protection that makes sense for many Long Island families. The key is working with an attorney who understands both New York’s Medicaid rules and Nassau County’s specific property values and care costs. Generic advice doesn’t work when you’re dealing with homes worth three-quarters of a million dollars and nursing home costs that can exceed $15,000 per month.

What's the difference between revocable and irrevocable trusts?

Revocable trusts give you complete control and flexibility – you can change or cancel them anytime. They’re perfect for avoiding probate and managing assets if you become incapacitated. However, they don’t protect assets from creditors or nursing home costs because you still technically own everything. Irrevocable trusts provide asset protection by permanently transferring ownership to the trust. Once assets are in an irrevocable trust, they’re generally protected from creditors, lawsuits, and Medicaid recovery. The trade-off is that you give up control – you can’t easily change the terms or get the assets back. Most families benefit from a combination approach. A revocable trust handles day-to-day asset management and probate avoidance, while an irrevocable trust protects specific assets from nursing home costs. The right strategy depends on your age, health, family situation, and how much asset protection you need versus how much control you want to maintain.

Local Resources

Valley Stream, NY is located in Queens County in New York State

Trust Attorney in Valley Stream, NY

Protect Your Family's Legacy Before It's Too Late