Trust Attorney
in Smithtown & Syosset, NY

Protect Your Assets, Avoid Probate, and Control Your Legacy with Properly Structured Trusts

WHAT IS A TRUST?

A trust is a legal arrangement where you (the “grantor” or “settlor”) transfer assets to a trustee who manages them for the benefit of designated beneficiaries. Unlike a will, which only takes effect after death and must go through probate, a trust can operate during your lifetime and allows your estate to bypass the costly, time-consuming probate process entirely.

In New York, trusts are governed by the Estates, Powers and Trusts Law (EPTL). Properly structured trusts provide asset protection, tax benefits, incapacity planning, and complete privacy—your trust doesn’t become public record like a will does in probate court.

At Fratello Law, we’ve helped Long Island families in Smithtown, Hauppauge, Syosset, Woodbury, and throughout Suffolk and Nassau Counties create comprehensive trust plans since 2012. Our estate planning attorneys ensure your trust meets all New York requirements while accomplishing your specific goals for asset protection and wealth transfer.

📞 Ready to protect your assets and avoid probate?

Call our Smithtown office at (631) 406-5580 or Syosset office at (516) 321-4010

Schedule Your Free Consultation →

WHEN DO YOU NEED A TRUST?

Throughout Suffolk County and Nassau County, many people believe trusts are only for the wealthy. This is a costly misconception. If you have assets, loved ones, or specific wishes for how your estate should be managed, you likely need a trust.

You Should Consider a Trust If You:

Want to avoid probate — Probate in New York takes 9-18 months and costs 3-7% of your estate
Own real estate — Especially if you own property in multiple states or valuable Long Island property
Have significant assets — Generally $500,000+ (including home, retirement accounts, investments)
Value privacy — Trusts don’t become public record; wills do
Need incapacity protection — Trusts continue seamlessly if you become incapacitated
Have a blended family — Ensure both spouse and children from previous marriages are protected
Have minor children — Control when and how children receive inheritances
Own a business — Ensure smooth business succession
Have special needs beneficiaries — Protect government benefits while providing supplemental support
Want asset protection — Shield assets from creditors, lawsuits, or future nursing home costs
Need Medicaid planning — Protect your home and assets while qualifying for long-term care benefits
Have a taxable estate — Minimize New York estate taxes (currently estates over $7.35 million)
Want to disinherit someone — Trusts are harder to contest than wills
Care about immediate distribution — Beneficiaries receive assets immediately, not after 9-18 months of probate

HOW TRUSTS AVOID PROBATE

Avoiding probate is one of the primary reasons Long Island residents create trusts.
Here’s why probate is problematic and how trusts solve this:

Problems with Probate in New York:

Time-Consuming

Probate in Suffolk and Nassau Counties typically takes 9-18 months, sometimes longer for complex estates. During this time:

Assets are frozen (beneficiaries can’t access them)
Bills still need to be paid
Family members must wait for their inheritance
Property maintenance continues without ability to sell

Expensive

Probate costs typically include:

Court filing fees: $45-$1,250 depending on estate size
Executor commissions: 2-5% of estate value (set by NY law)
Attorney fees: 2-5% of estate value
Accounting fees: $500-$5,000+
Appraisal fees: Varies by property
Total: Often 3-7% of your entire estate

Example: On a $1 million Long Island estate, probate could cost $30,000-$70,000 and take over a year.

Public Record

Your will becomes public record in Suffolk County Surrogate’s Court or Nassau County Surrogate’s Court
Anyone can see what you owned and who inherited
Details of your estate are available to public, scammers, and fraudsters
Family disputes become public

Court Involvement

Court must approve all actions
Executor must file detailed accountings
Court hearings required for disputes
Delays for court schedules and backlogs

How Trusts Solve These Problems:

Immediate Distribution

Assets transfer to beneficiaries within days or weeks, not months
No waiting for court approval
Trustee has immediate authority to act

Cost Savings

No court filing fees
No probate attorney fees
Simplified administration
Trustee fees often lower than executor commissions

Complete Privacy

Trust terms remain completely private
No public filing of trust documents
Asset values and beneficiaries remain confidential
Family matters stay private

No Court Involvement

Trustee operates independently
No court approval needed for distributions
No court hearings or filings
Administration handled privately

Multi-State Property

Special benefit for Long Island residents with property elsewhere:

Without a trust, you need probate in every state where you own real estate
Florida condo + New York home = probate in both states (double the cost and time)
With a trust, all property avoids probate regardless of location
Single trust administration handles everything

WHAT OUR TRUST CLIENTS SAY

We were concerned about protecting our home from nursing home costs. Cheryl Fratello recommended a Medicaid Asset Protection Trust and explained exactly how it works. Five years later, when my husband needed long-term care, our home was protected just as she said. We’re so grateful we planned ahead.
— Barbara, Smithtown
After my father passed away, the probate process took over a year and cost our family thousands. I made sure my own estate wouldn’t put my children through that. Fratello Law created a comprehensive revocable living trust, and I know my kids won’t face the nightmare we did.
— Robert, Syosset

Trust vs. Will: Which Do You Need?

This is one of the most common questions from Long Island families. The answer for many: both.

When a Trust is Better Than a Will Alone:

Factor	Will	Trust
Probate	Required (9-18 months)	Avoided completely
Privacy	Public court record	Completely private
Cost	3-7% of estate	Much lower
Time to distribute	9-18+ months	Days to weeks
Incapacity protection	None	Complete
Multi-state property	Probate in each state	Single administration
Contestability	Easier to challenge	Harder to contest
Asset protection	None	Yes (if irrevocable)
Control over distribution	Limited	Extensive
Initial cost	Lower ($500-$2,500)	Higher ($2,500-$6,000)
Total cost	Much higher (probate fees)	Much lower overall

Why You Need Both:

Even with a comprehensive trust, you still need a will because:

Catches forgotten assets: Any assets not transferred to your trust automatically “pour over” into it
Names guardians: Only a will can name guardians for minor children
Covers new assets: Assets acquired shortly before death may not have been transferred to trust yet
Backup protection: Ensures your entire estate ultimately follows your trust’s distribution plan according to the trust’s terms. This often includes managing assets, making distributions, and filing the necessary paperwork.

- FAQ -

What is the difference between a revocable and irrevocable trust?

A revocable trust can be modified or cancelled by you at any time during your lifetime. You maintain complete control and can change beneficiaries, add or remove assets, or dissolve the trust entirely. It’s flexible but offers no asset protection from creditors or Medicaid.

An irrevocable trust, once created, cannot be easily changed or revoked. While you give up direct control, irrevocable trusts offer significant benefits, including asset protection from creditors, Medicaid eligibility after the look-back period, estate tax savings, and protection of assets from beneficiaries’ creditors and divorces. A properly drafted New York irrevocable might allow you to change your trustees, beneficiaries, and allow trust distributions to defined individuals.

Do I lose control of my assets if I put them in a trust?

Revocable trust: No. You maintain complete control. You’re typically the trustee and can manage, sell, or spend assets as you wish. You can modify or revoke the trust at any time.

Irrevocable trust: You give up direct legal control, but you can often still benefit from the assets (such as living in your home or receiving income). You cannot access the principal directly, but you can typically replace trustees and direct how assets are ultimately distributed to beneficiaries.

Can I be my own trustee?

Revocable trust: Yes, almost always. You serve as trustee during your lifetime, then your successor trustee takes over when you die or become incapacitated.

Irrevocable trust: No. You cannot serve as trustee of your own irrevocable trust. You must name an independent trustee (family member, friend, professional, or institution). This is required for the asset protection and tax benefits to work.

How long does it take to create a trust?

The process typically takes 6 weeks from initial consultation to signed trust documents:

Week 1: Gather important information
Week 2-3: Draft trust and supporting documents
Week 3-4: You review drafts, we make revisions
Week 4-5: Trust signing
Week 5-6: Fund trust (transfer assets)

We can expedite for urgent situations.

Will my trust protect my home from nursing home costs?

Only if you use a Medicaid Asset Protection Trust (irrevocable trust):

You must transfer your home to the trust at least 5 years before applying for Medicaid (look-back period)
You can continue living in the home for life
After 5 years, your home is protected from Medicaid estate recovery
You cannot take your home back out (it’s irrevocable) unless you decide to terminate the trust

A revocable trust does NOT protect assets for Medicaid purposes—assets in a revocable trust still count as yours.
Learn more about Medicaid planning →

What happens to my trust when I die?

Revocable trust:

Becomes irrevocable upon your death
Successor trustee takes over immediately
Trustee distributes assets according to trust terms
No probate court involvement

Irrevocable trust:

May continue according to its terms
May continue for beneficiaries’ lifetimes (especially special needs or spendthrift trusts)
Trustee continues managing and distributing as specified
No probate court involvement

Can I change my trust after it's created?

Revocable trust: Yes, anytime. You can:

Change beneficiaries
Change trustees
Add or remove assets
Modify distribution terms
Revoke the trust entirely

We recommend reviewing and updating your trust every 3-5 years or after major life changes.

Irrevocable trust: Generally no, with limited exceptions:

Some provisions may allow you to change your beneficiaries (limited power of appointment)
Some provisions may allow replacing trustees
Beneficiaries may agree to modifications
Court approval may be obtained for changes in limited circumstances
This is why careful planning before creation is essential

Do I still need a will if I have a trust?

Yes. You need a will that:

Catches any assets not transferred to your trust
Names guardians for minor children (trusts can’t do this)
Directs all probate assets into your trust
Serves as a backup to your trust
Appoints an executor to handle any potential litigation matters (trusts can’t do this)

A will ensures your entire estate ultimately follows your trust’s distribution plan.

What's the 5-year rule for Medicaid?

New York Medicaid has a 5-year “look-back period.” If you apply for Medicaid to pay for nursing home care, Medicaid reviews all asset transfers made in the previous 5 years.

Assets transferred to a Medicaid Asset Protection Trust more than 5 years ago: Protected
Assets transferred within 5 years: May result in a penalty period
Penalty period: You’re ineligible for Medicaid for a period based on the amount transferred

PLANNNIG AHEAD IS CRUCIAL: The best time to create a Medicaid Asset Protection Trust is in your 60s or early 70s, while you’re healthy. Waiting until you need nursing home care is often too late.

Learn more about asset protection →

COMMON TRUST MISTAKES TO AVOID

1. Creating a Trust But Not Funding It

This is the #1 mistake. An unfunded trust is worthless—it’s like buying a safe but not putting anything in it. If assets aren’t transferred to the trust, they still go through probate.

2. Putting Retirement Accounts Directly in Trust

This triggers massive tax consequences. Always name the trust as beneficiary, not transfer the account itself.

3. Waiting Too Long for Medicaid Planning

The 5-year look-back period means you need to plan years before needing nursing home care. Waiting until you’re already sick is often too late.

4. Choosing the Wrong Trustee

Don’t automatically choose your oldest child or the person who lives closest. Choose based on trustworthiness, financial acumen, and ability to be objective.

5. Not Coordinating Beneficiary Designations

Life insurance, retirement accounts, and payable-on-death accounts pass by beneficiary designation, not through your trust. These must be coordinated or you create conflicts.

6. Forgetting to Update Your Trust

Review and update your trust after marriage, divorce, births, deaths, significant asset changes, moves to other states, or changes in tax laws.

7. Using DIY or Online Trusts

Trusts are complex legal documents. Generic forms can’t address your unique situation, New York-specific requirements, or potential pitfalls. Errors aren’t discovered until it’s too late.

8. Not Understanding the Trade-offs

Irrevocable trusts offer powerful benefits but require giving up control. Make sure you understand and accept this trade-off before committing.

9. Failing to Tell Family About Your Trust

Your trustee and beneficiaries should know your trust exists and where to find it. Successor trustees need to know they’re named.

10. Putting Everything in an Irrevocable Trust

You need to maintain some assets for living expenses, emergencies, and flexibility. Don’t over-protect to the point of financial hardship.

DON’T WAIT — PROTECT YOUR FAMILY TODAY

Creating a trust is an act of love for your family.
It’s the gift of clarity, protection, and peace of mind during one of life’s most difficult times.

TAKE THE FIRST STEP TODAY:

📞 Call (631) 406-5580 (Smithtown) or (516) 321-4010 (Syosset)

Your family will thank you.

We provide trust planning services to families in the following areas

Trust Attorneyin Smithtown & Syosset, NY