New York Revocable Living Trust

Yes. Assets held in a revocable living trust bypass New York probate entirely — no court supervision, no public record, no statutory fees.N.Y. EPTL Article 7Verified May 31, 2026 Full probate in New York typically takes 9-15 months. Use the New York probate cost calculator to see what probate would cost without a trust.

New York does not have an enacted certificate of trust statute. Third parties may request the full trust instrument. A proposed certificate of trust law (EPTL 7-A-10.13) has been in the legislature since 2019 but has not been enacted.

Many families with a trust also use a pour-over will — one way to direct assets not transferred into the trust during your lifetime. Pour-over assets go through probate before reaching the trust. Create a New York pour-over will if needed.

The successor trustee takes over and the trust becomes irrevocable. The trustee manages the 7-month creditor claim window and distributes assets according to the trust terms — all without probate court involvement.N.Y. EPTL Article 7Verified May 31, 2026 Use the Trust EIN application tool to get the tax ID.

Most assets can be transferred: New York real estate (via a Bargain and Sale Deed with Covenants), bank accounts, investment accounts, vehicles, and personal property.N.Y. EPTL Article 7Verified May 31, 2026 Retirement accounts (401k, IRA) use beneficiary designations rather than being retitled. Life insurance policies can name the trust as beneficiary. The key is funding — only assets actually transferred into the trust bypass probate.

It depends on your estate size and goals. New York allows simplified probate for estates under $50,000,SCPA § 2307 (executor: 5% first $100K / 4% next $200K / 3% next $700K / 2.5% next $4M / 2% over $5M), SCPA § 2402(7) (graduated court petition fees: <$10K=$45, <$20K=$75, <$50K=$215, <$100K=$280, <$250K=$420, <$500K=$625, ≥$500K=$1,250), SCPA § 2402(9) ($150 objections/jury demand; $45 note of issue), SCPA § 1301 (voluntary administration, $50K personal-property cap, raised from $30K by Ch. 481 L. 2019 eff. 2019-11-25), SCPA § 1304 (no waiting period; file affidavit + death certificate immediately), SCPA § 1802 (7-month creditor claim period; runs automatically from issuance of letters; no publication required — former SCPA § 1801 repealed by Ch. 514, L. 1993). Verified 2026-05-31 via nysenate.gov primary sources.Verified May 31, 2026 so smaller estates may not need a trust for cost savings alone. Use the New York trust vs. will comparison to see which fits your situation.

New York offers transfer-on-death deeds for real estate,N.Y. Real Prop. Law 424Verified May 31, 2026 which transfer property at death without probate. A TOD deed is simpler for a single property, but a trust covers all asset types, provides incapacity protection, and keeps distributions private. Check eligibility with the TOD deed checker.

A basic revocable trust does not reduce estate tax — assets in the trust are still part of your taxable estate. However, trust provisions like A/B (bypass) trusts or disclaimer trusts can be structured to maximize both spouses' estate tax exemptions. New York has its own state estate taxN.Y. Tax Law §§ 951–971Verified May 31, 2026 in addition to the federal estate tax. Use the New York death tax calculator to estimate your exposure.

While you're alive, a revocable trust uses your Social Security number. After the grantor dies, the trust needs its own EIN from the IRS. Use the Trust EIN application to prepare the paperwork.