Westchester Revocable Trust Attorney
A Revocable Trust, also known as a Living Trust, is one of the most versatile and commonly used estate planning tools. It allows you to manage your assets during your lifetime and ensures a smooth transition after your death—all while helping your loved ones avoid probate. At Cavallo & Cavallo, we assist Westchester clients in creating revocable trusts that protect assets, provide flexibility, and give you peace of mind.
What Is a Revocable Trust?
A revocable trust is a legal arrangement that allows you (the grantor) to place assets into a trust while still retaining full control. You serve as the trustee during your lifetime, meaning you can buy, sell, move, or change trust assets as you see fit. Because it’s revocable, you can also amend or cancel the trust at any time.
Upon your death or incapacity, a successor trustee steps in to manage or distribute assets according to your instructions—without court involvement.
Why Consider a Revocable Trust?
Many Westchester families turn to revocable trusts to gain control and reduce complexity in their estate plan. Some of the key benefits include:
- Avoiding probate – trust assets are distributed without court supervision
- Maintaining privacy – trusts are not public record like Wills
- Managing incapacity – your successor trustee can act without court appointment
- Ensuring control – specify when and how assets are passed to beneficiaries
- Streamlining administration – simplifies transfers, especially for out-of-state or complex assets
For individuals with real estate, blended families, or long-term planning goals, a revocable trust offers practical advantages that go beyond a Will.
What Can You Place in a Revocable Trust?
Almost any asset can be placed into a revocable trust, including:
- Residential and investment real estate
- Bank and brokerage accounts
- Business interests and LLC shares
- Stocks and bonds
- Personal property
- Life insurance policies (by naming the trust as beneficiary)
We help you properly fund the trust, ensuring each asset is correctly titled or linked to your plan. Without funding, even the best-drafted trust won’t be effective.
How a Revocable Trust Works
The process of establishing a revocable trust involves several steps:
- Creating the trust agreement – we draft a legally sound document outlining your wishes and instructions.
- Naming trustees and beneficiaries – you serve as trustee during life, with successors named to take over if needed.
- Transferring assets – assets are moved into the trust or retitled in its name.
- Managing and updating – you retain full control and can change the trust as life evolves.
- Administering the trust – upon death or incapacity, your successor trustee manages or distributes trust property without probate.
We walk you through each step, ensuring your plan is thorough, legally compliant, and aligned with your goals.
Revocable Trusts vs. Wills
While a Will is important, a revocable trust offers advantages a Will alone cannot:
| Feature | Will | Revocable Trust |
|---|---|---|
| Requires probate | Yes | No |
| Public document | Yes | No |
| Effective during lifetime | No | Yes |
| Plans for incapacity | No | Yes |
We typically recommend using a revocable trust alongside a pour-over Will, which captures any assets accidentally left out of the trust and moves them into it.
Planning for Incapacity
Incapacity due to illness, injury, or aging can happen unexpectedly. A revocable trust provides a built-in safety net. If you become unable to manage your affairs, your successor trustee can step in right away—without the need for court intervention or guardianship.
This avoids delays, protects your finances, and ensures your care and obligations continue uninterrupted.
Updating Your Revocable Trust
Revocable trusts are designed to adapt. You can update your trust whenever your circumstances or wishes change.
Common reasons to amend a trust include:
- Marriage or divorce
- New children, grandchildren, or beneficiaries
- A change in your financial situation
- Death or incapacity of a trustee or beneficiary
- Moving to or from Westchester
We help you keep your plan current and effective throughout life.
Revocable Trust Limitations
While a revocable trust is powerful, it’s not a one-size-fits-all solution. Important considerations include:
- No tax protection – trust assets remain part of your taxable estate
- No asset protection – creditors can still access trust property while you’re alive
- Requires funding – assets must be titled in the trust to avoid probate
That’s why we coordinate revocable trusts with other estate planning tools, such as durable powers of attorney, health care proxies, and, where needed, irrevocable trusts for tax or Medicaid planning.
Frequently Asked Questions About Revocable Trusts
Will I lose control of my property if I create a trust?
No. You retain full control as trustee and can manage, sell, or change trust assets anytime.
Do I still need a Will?
Yes. A pour-over Will works with your trust to cover any assets not titled in the trust and to name guardians for minor children.
Can I avoid probate with a revocable trust?
Yes—if the trust is properly funded. Assets in the trust bypass probate, saving time and avoiding court involvement.
Do trust assets get a step-up in basis?
Yes. Assets in a revocable trust typically receive a step-up in basis for capital gains tax purposes upon your death.
Is a trust only for wealthy individuals?
No. Revocable trusts are useful for anyone who wants privacy, probate avoidance, or incapacity planning—regardless of wealth.
Serving Throughout Westchester, NY
- Scarsdale
- Bronxville
- Larchmont
- Rye
- Chappaqua
- Pelham
- Armonk
- Mamaroneck
- Dobbs Ferry
- Tarrytown
How Cavallo & Cavallo Can Help
For over 30 years, Cavallo & Cavallo has helped Westchester families simplify estate planning with customized revocable trusts. Our team brings legal clarity, practical experience, and a personal approach to every plan.
Our services include:
- Drafting revocable living trusts
- Coordinating asset transfers and trust funding
- Updating or amending existing trusts
- Advising successor trustees on administration
- Integrating trusts with Wills, powers of attorney, and tax planning
We make the process comfortable, clear, and aligned with your life.
Speak With a Westchester Estate Planning Attorney Today
A revocable trust is one of the smartest ways to take control of your estate and make life easier for your loved ones. Contact Cavallo & Cavallo today to speak with an experienced Westchester estate planning attorney and start building a trust that gives you flexibility now and security for the future.
