Living Trust Creation & Drafting Services in Syracuse, NY
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For Syracuse and Onondaga County residents unsure where to begin when creating a trust, living trust and drafting services can help determine the right type of trust, streamline the transition of assets, and maintain privacy. Without safeguards in place, assets controlled solely by a will or left in an individual’s name must pass through the Onondaga County Surrogate’s Court, a process that introduces public oversight, mandatory notices, filing fees, and delays.
Davies Law Firm provides tailored estate planning for families across Central New York. Led by Syracuse living trust attorneys Frederick P. Davies and William P. Davies, we draft New York-compliant wills, trusts, powers of attorney, and healthcare proxies. We build targeted plans to preserve your real estate and finances, alongside effective estate strategies for multiple beneficiaries.
A properly created and funded living trust can address three concerns a will alone cannot: probate avoidance for trust-owned assets, trustee management during incapacity, and greater privacy for family arrangements. Contact our estate planning attorneys at Davies Law Firm today at (315) 472-6511 to schedule your initial telephone conference and take control of your family’s future.
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Contacted the Davies Law firm regarding our Estate Plan. Fred Davies thoroughly explained the intricacies of Living Will, Health Care proxies, Medicaid qualifications for Nursing Homes and provided guidance for…
What Is a Living Trust, and Do You Need One?
A living trust is a legal structure created during your lifetime to hold transferred assets and designate your beneficiaries. When establishing a revocable living trust, you serve as both the trustor and the trustee, maintaining full control over your property. The document also designates a successor trustee, granting them immediate authority to manage or distribute assets upon your incapacity or death. Because trust assets are already transferred and titled directly to the trust, they can bypass probate court entirely.
In New York, the court process to settle an estate can span months or years. This timeline fluctuates based on asset volume, court mandates, outstanding debts, and potential familial disputes. Given these variables, trust-based planning is a highly effective strategy for Syracuse families managing real estate, multiple financial accounts, blended-family dynamics, or specific privacy goals.
What Are the Types of Living Trusts in New York?
Living trusts can be revocable or irrevocable. Each serves a different purpose, and the right choice depends on your goals, financial situation, and long-term planning needs.
Revocable Living Trusts
A revocable living trust gives you full control over your assets during your lifetime. You can add or remove assets, change beneficiaries, amend the terms, or revoke the trust entirely at any time while you are mentally competent. Because you retain control, the assets remain part of your taxable estate. The primary benefits of a revocable trust are probate avoidance, incapacity planning, and privacy, not asset preservation.
Irrevocable Living Trusts
An irrevocable living trust cannot be changed or revoked by the trustor alone after it is signed, unless the trust terms or New York law allow modification. Properly structured irrevocable trusts may help with long-term care planning, probate avoidance, and certain creditor concerns, but the outcome depends on the trust language, retained rights, transfer timing, and Medicaid rules. Common types of irrevocable trusts include the following options:
- Medicaid Asset Protection Trusts (MAPTs): Used in long-term care planning to hold certain assets outside the applicant’s direct ownership when Medicaid rules are satisfied.
- Supplemental Needs Trusts: Created for beneficiaries with disabilities to preserve their eligibility for public benefits.
- Irrevocable Life Insurance Trusts (ILITs): Used in some estate tax plans to help keep life insurance proceeds outside the taxable estate when the trust is properly structured, administered, and coordinated with federal tax rules.
NEARLY 4 DECADES CREATING ESTATE PLANS IN SYRACUSE
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We went to a Living Trusts seminar in 2006 where we first met Fred Davies. After some insightful discussions with him, and as we wanted to protect our assets for our and our children’s’ futures …
Bill Davies could not have been more helpful after my mother’s passing. He walked us through everything we needed to know. Such a relief to have had his expertise on how to move forward with the trust. I still call…
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How Does the Living Trust Process Work in New York?
Davies Law Firm follows a structured process to create, execute, and fund living trusts for Syracuse and Onondaga County clients.
Step 1: Initial Telephone Conference and Needs Assessment
The process begins by deciding if a trust plan is right for you, either by attending one of our seminars or requesting our estate planning booklet. If you attend our seminar, the next step is scheduling an in-person meeting. If you start with the booklet, we first hold a brief phone call to see if a trust fits your needs before meeting in person. During your initial consultation, your attorney reviews your family situation, financial assets, and estate planning goals, including beneficiaries, successor trustees, and special circumstances like minor children, multiple beneficiaries, or business ownership.
Step 2: Preparing Your Trust Document
Your attorney prepares the trust document tailored to New York law and your specific instructions. Companion documents, such as a pour-over will, durable power of attorney, and health care proxy, are prepared at the same time.
Step 3: Reviewing Your Plan Outline
We provide an outline of your estate plan so you can review all your decisions before the documents are finalized. You and your attorney will go over this outline together to confirm that your trustee duties, distribution terms, and successor provisions are exactly as you intended.
Step 4: Signing and Trust Funding
Because a trust only works if assets are transferred into it, we collect your financial information prior to your signing appointment to prepare all necessary funding documents. During the meeting, you formally execute your trust and sign the paperwork to retitle your real estate, bank, and investment accounts. We oversee the signing process to confirm your plan is both legally valid and actively funded.
How Does a Living Trust Compare to a Will in New York?
A living trust offers broader coverage than a will. While both documents can name who receives your assets, a properly funded trust can avoid probate for trust-owned assets, maintain privacy in most cases, and address incapacity. The table below compares the two approaches across the most important planning factors for Syracuse families.
| Feature | Will | Living Trust |
|---|---|---|
| Probate required | Yes, for probate assets controlled by the will. | No, for assets properly transferred into the trust. |
| Privacy | Probate filings can become public record. | The trust document generally remains private, although recorded deeds and litigation can be public. |
| Incapacity planning | Does not manage assets during lifetime. | Successor trustee manages assets if you become incapacitated. |
| Speed of distribution | Often seven months or longer, depending on the estate. | Often faster than probate, but timing depends on funding, debts, taxes, asset type, and disputes. |
| Upfront cost | Lower. | Higher. |
| Long-term cost | May include probate filing fees, executor commissions, attorney fees, and court-related costs. | A properly drafted and funded trust eliminates probate and all related costs. |
A pour-over will is used with a living trust as a backup for assets left outside the trust. This type of will can catch assets you did not put into the trust during life and direct them into the trust plan after death.
New York has a faster, simpler court process for small estates, but it only applies when the person leaves $50,000 or less in personal property and no real property in their name alone. Because that threshold excludes many homeowners and larger estates, a trust may be useful for families with real property or more detailed financial situations.
What Are Common Mistakes in Living Trust Creation?
A living trust needs careful drafting, proper execution, and follow-through after signing. The mistakes below can limit probate avoidance benefits or create avoidable administration problems.
Failing to Fund the Trust
One costly error is failing to transfer assets into the trust after it is signed. An unfunded trust does not provide probate avoidance or privacy benefits for assets left outside the trust.
Naming the Wrong Trustee or No Successor Trustee
Choosing a trustee who is inexperienced or has conflicts of interest creates problems during administration. Failing to name a successor trustee can force your family to seek court involvement, defeating the purpose of the trust.
Using Generic Online Templates
New York has specific requirements for trusts under EPTL Article 7. Template trusts may fail to account for New York execution rules, funding requirements, pour-over will coordination, or Medicaid and elder law provisions when those issues apply.
Forgetting to Update the Trust After Life Changes
Divorce, the birth of a new child, the death of a named trustee, or major asset changes should trigger a trust review and may require amendments. An outdated trust can create confusion, leave out new family members, or fail to reflect your current wishes.
Key Takeaway: A signed trust is only part of the plan. Funding the trust and reviewing it after major life changes help keep the document aligned with your assets, family, and goals.
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My husband and I used Fred Davies to prepare our Wills, Trust, Health Care Proxies and Powers of Attorney. He and his staff are informative, professional and friendly, and we felt completely at ease with taking this…
The Davies Law Firm helped my 86 year old father create a Trust about two years before he passed. I was there for the entire process and Fred and Bill were very personable and listened to my father’s concerns…
My husband Ken and I highly recommend the Davies Law Firm. We first met them at a free seminar and quickly decided to work with them on our Living Trust…
Living Trust Attorneys in Syracuse, NY – Davies Law Firm
Frederick P. Davies, Esq.
Frederick P. Davies is the founder and senior attorney of Davies Law Firm, which he established in 1993 to focus on living trusts, estate planning, and elder law. He earned his Bachelor of Arts in political science from the University of Vermont in 1982 and his Juris Doctor from the Syracuse University College of Law in 1985. Following graduation, Mr. Davies was admitted to practice law in all state courts of New York and Connecticut, and is further admitted before the United States Supreme Court, the United States Tax Court, and the Federal District Court for the Western District of New York. His legal career includes distinguished military service as a certified Judge Advocate in the U.S. Navy JAG Corps and later as a Colonel in the U.S. Air Force, where he served as the Estate Planning Subject Matter Expert.
Mr. Davies brings a foundation of discipline, structure, and precision to his client matters. He is a prominent speaker who has delivered more than 1,000 educational presentations across the region on Medicaid planning, estate taxes, and elder care. Mr. Davies maintains active professional memberships with the American Bar Association (Wills and Estates Section), the New York State Bar Association (Trusts & Estates and Elder Law Sections), and the Estate Planning Council of Central New York.
William P. Davies, Esq.
William P. Davies is a partner at Davies Law Firm. He earned a Bachelor of Arts in political science from the College of Saint Rose in 2013 before graduating magna cum laude with his Juris Doctor from Albany Law School in 2016, where he received a full academic scholarship and was awarded a Sponsler Fellowship. He completed his advanced legal training in 2017, earning a Heckerling LL.M. in Estate Planning from the University of Miami School of Law. Admitted to practice in all state courts of New York and Florida, his prior legal background includes serving as an editor for the Albany Law Review and working as a full-time student intern for the Honorable Mae A. D’Agostino, Federal District Court Judge for the Northern District of New York.
Mr. Davies blends rigorous technical knowledge with practical application to provide clients with clear, customized legal strategies. He is a past president of the Estate Planning Council of Central New York and a member of the American Bar Association, the New York State Bar Association, the Onondaga County Bar Association, and the Professional Advisor Council for the Central New York Community Foundation. Former clients appreciate his deep knowledge, clear guidance, and kind support when handling trust and estate matters after the loss of a loved one.
Can a Living Trust Help With Medicaid in New York?
A revocable living trust does not help with Medicaid eligibility. Because you retain full control over the assets, Medicaid treats the assets in a revocable trust as available resources during the eligibility review. An irrevocable Medicaid Asset Protection Trust (MAPT), however, may help preserve certain assets for nursing home Medicaid planning if it is properly drafted, funded, and created outside the applicable look-back period.
Early planning still matters because Medicaid rules can change, and the rules differ for home care and nursing home care. Families with aging parents should speak with an attorney before transferring assets because Medicaid eligibility depends on the type of care, timing of transfers, retained rights, and trust structure.
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Fred Davies, Colonel, USAF (Ret.), served as a JAG officer and was the U.S. Air Force’s Estate Planning Subject Matter Expert.
When I needed to move my mother from NY to FL to care for her and then find a nursing home facility nearby , applying for Medicaid became my responsibility…
Excellent Law Firm and I have enjoyed working with Fred and Bill Davies. I have mostly worked with Bill and found him, much like his father, to be very professional and responsive to my needs..
Fred Davies and his team are friendly, attentive, and go out of their way to help their clients make the best decisions possible. Their guidance and explanations on setting up a revocable trust were very much…
Does a Living Trust Protect Privacy in New York?
Yes, a living trust can keep the trust document and many trust administration details out of the public record. When a will goes through probate at the Onondaga County Surrogate’s Court, probate filings can become public records, including information about beneficiaries, estate assets, and distribution terms.
A living trust generally is not filed with a court unless litigation arises, helping keep those details private. One exception is that deeds transferring real property into the trust are recorded publicly at the Onondaga County Clerk’s Office. However, the trust document itself stays private, which is a meaningful advantage over a will-only estate plan.
Who Should Consider a Living Trust in New York?
A living trust may be a strong fit for the following individuals and families:
- Homeowners with real estate in New York or multiple states
- People with complicated beneficiary situations
- Parents of minor children or people with beneficiaries who have special needs
- Business owners in Syracuse or the surrounding area
- People concerned about estate privacy
- People planning for potential incapacity
- Families with aging parents considering Medicaid planning
For very simple estates, a well-drafted will combined with beneficiary designations may be sufficient. Call Davies Law Firm at (315) 472-6511 to discuss which approach fits your situation.
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Called inquiring about whether or not to hire a lawyer. Mr. Davies patiently listened to what I was explaining and offered me some suggestions to try before heading down a legal …
Fred Davies is a lawyer who cares about his clients. We worked with him on our trust and he was organized, supportive and helpful. He never hesitated to answer any questions that we …
My husband and I had some questions about the wording of distribution of assets from our trust after our deaths. Since we now reside in TN, we scheduled a phone call with Attorney Bill Davies. He clearly…
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How Much Does a Living Trust Cost in New York?
The cost to create a living trust in New York depends on the attorney, asset mix, and level of planning involved. Trusts involving Medicaid planning, business interests, multiple beneficiaries, or property transfers can require more work than a basic single-person trust.
While a trust costs more upfront than a simple will, probate expenses can be significant. Under SCPA §2307, New York executor commissions follow a statutory percentage schedule, beginning at 5% on sums not exceeding $100,000 and decreasing for larger amounts. Probate may also involve court filing fees, attorney fees, and potential appraisal costs. Although trustee fees or administration costs can apply, the cost to administer a trust is almost always lower than the cost of probating a will. Davies Law Firm offers a telephone conference to discuss scope and cost before any commitment is made.
Key Takeaway: A living trust can cost more to create than a simple will, but it may reduce court involvement, probate-related expenses, and delays in the distribution of assets placed in the trust.
What Happens to a Living Trust When You Die in New York?
Your successor trustee can take over trust assets without a probate court appointment. After the trustor’s death, the process can follow these steps:
- Successor trustee steps in: The person you named can take over trust administration under the trust terms without filing a probate petition or waiting for a Surrogate’s Court appointment. Banks, brokerages, or other institutions may still require proof of death and proof of trustee authority before releasing or retitling assets.
- Death certificate obtained: The trustee presents a death certificate and trust certification to banks, brokerages, and other financial institutions.
- Assets administered and distributed: The successor trustee gathers trust records, confirms authority, handles expenses and tax issues, and then distributes assets according to the trust terms. Simple trusts may move quickly, but real estate, debts, taxes, or beneficiary disputes can make the process take longer.
- Real estate transferred: Property held in the trust is transferred to beneficiaries by deed, without the Surrogate’s Court involvement.
If any assets were accidentally left out of the trust, the pour-over will can direct those assets into the trust after death. However, those assets may still need to pass through probate before they can be transferred. Assets already owned by the trust can be handled through trust administration rather than routine court supervision.
Service Areas
Davies Law Firm serves clients throughout Syracuse, Onondaga County, and the surrounding Central New York region, including the communities listed below:
- Syracuse
- DeWitt
- Manlius
- Cicero
- Clay
- Baldwinsville
- Liverpool
- Skaneateles
- Fayetteville
- Camillus
Our office is located at 210 E Fayette St, Syracuse, NY 13202, and serves families and individuals across all of these communities.
Talk to a Syracuse Living Trust Lawyer Today
Creating a living trust can help families plan for privacy, incapacity, and probate avoidance for assets placed in the trust. Frederick P. Davies and William P. Davies at Davies Law Firm have helped families throughout Onondaga County create living trusts, wills, and comprehensive estate plans tailored to New York law. Our team handles every phase of the process, from the initial telephone conference to the final funding of your trust.
Call Davies Law Firm at (315) 472-6511 to schedule a telephone conference.
LET’S TALK ABOUT HOW WE CAN WORK TOGETHER
Ready to Move Forward? Schedule a Telephone Conference Today
Frequently Asked Questions About Living Trusts in Syracuse, NY
Do I still need a will if I have a living trust?
Yes. A pour-over will backs up the trust by directing any probate property left in your individual name into the trust plan. The backup still may require a probate filing, so funding the trust during life remains important.
Can I be my own trustee?
Yes. Many revocable trust creators serve as initial trustees and continue managing property during life. The successor trustee’s role begins when the trust terms allow it, after incapacity or death of the trustor.
Does a living trust avoid estate taxes?
Not by itself. A revocable trust generally keeps the assets in your taxable estate because you keep control. Estate tax planning can require a different structure and depends on the estate size, transfers, and tax rules.
How long does it take to set up a living trust?
How long the process takes depends on your situation. At Davies Law Firm, it takes several weeks from the first phone call to a fully funded trust. Plans that include business interests or Medicaid planning can take more time.
Can I change my living trust after it is created?
Yes, if it is revocable. While mentally competent, you can modify the trust, update beneficiaries, transfer assets in or out, or revoke it. Irrevocable trusts are more limited and require authority under the document, beneficiary consent, or applicable New York law.
Is a living trust valid in other states?
Living trusts are recognized across state lines if properly drafted according to the trustor’s state’s law. If you own real estate in another state, the property should be retitled into the trust to avoid probate in that state.
What assets should I put in a living trust?
Common assets include real estate, non-retirement bank or brokerage accounts, and some business interests. Retirement accounts and life insurance require careful beneficiary designation planning instead of simple retitling.