A trust is not a form — it is a financial decision. One wrong structure can expose a $7.4 million estate to New York’s all-or-nothing estate-tax cliff and forfeit the entire $7,350,000 basic exclusion. Russel Morgan, Esq. helps families across New York — NYC, Long Island, Westchester, the Hudson Valley, and Upstate — choose the right vehicle before that window closes.
What We Clarify in 30 Minutes
| Question | Why It Costs You If You Guess |
|---|---|
| Revocable vs. irrevocable? | A revocable living trust avoids probate and preserves privacy, but offers zero estate-tax reduction — assets stay in your taxable estate under EPTL Article 7 |
| Do you need Medicaid protection? | An irrevocable trust requires a 5-year look-back; starting too late disqualifies you |
| Is a family member disabled? | A Supplemental Needs Trust (EPTL 7-1.12) preserves SSI and Medicaid eligibility |
| Trust or will? | A trust avoids Surrogate’s Court probate; a will is public record |
Your trustee carries fiduciary duties — prudent-investor standard, loyalty, and mandatory accounting under EPTL Article 11-A — that demand careful drafting from day one.
Ready to Plan Strategically?
Schedule your 30-minute consultation and arrive with a plan, not a problem. Learn more about trust administration and trusts overview.
Have a question about your estate?
Talk it through with Russel Morgan — free 30-minute consult.
Further reading from Morgan Legal Group: .