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A Special Needs Trust (SNT) in New York — sometimes called a Supplemental Needs Trust — is a legal arrangement, authorized by EPTL 7-1.12, that holds assets for a disabled beneficiary without disqualifying that person from means-tested government benefits such as Medicaid and Supplemental Security Income (SSI). The core idea is simple but powerful: because the funds are owned and

In New York, the core difference between a trust and a will comes down to one thing: probate. A will must be filed and validated in the Surrogate’s Court after you die — a public, court-supervised process that can take many months. A trust, by contrast, lets your chosen successor trustee distribute assets privately, without court involvement, often in a

An irrevocable trust is one of the most effective tools New Yorkers use to protect their home and savings from long-term care costs — but it only works if you plan ahead of the Medicaid 5-year look-back. In short: when you transfer assets into a properly drafted irrevocable trust, those assets stop counting against you for nursing-home (institutional) Medicaid once

To fund a trust in New York, you transfer ownership of your assets out of your individual name and into the name of your trust — by retitling deeds, bank and brokerage accounts, and business interests, and by updating beneficiary designations where appropriate. This is the single most important step in the entire process, because a trust only controls the

To choose a trustee for your New York trust, weigh four practical factors in order: trustworthiness and judgment, financial competence, availability over the trust’s full lifespan, and cost. The right choice is the person or institution who can faithfully follow your trust document, manage and invest assets under New York’s prudent-investor rule, treat every beneficiary fairly, and keep accurate records

Yes. A properly drafted and fully funded revocable living trust avoids probate in New York. When you transfer your assets into a living trust during your lifetime, those assets are no longer owned by you as an individual — they are owned by the trust. Because the trust does not “die” when you do, there is nothing for the Surrogate’s