Westchester Trusts Attorney

Trusts are an essential part of modern estate planning, offering flexibility, privacy, and control when it comes to managing and distributing assets. Whether you’re planning for your family’s future, reducing tax exposure, or protecting vulnerable beneficiaries, the right trust can accomplish your goals. At Cavallo & Cavallo, our Westchester trust attorneys help individuals and families throughout Westchester County create and administer customized trusts that preserve wealth and provide peace of mind.

What Is a Trust?

A trust is a legal relationship in which one party (the grantor) places assets into the care of a trustee, who manages those assets on behalf of beneficiaries. The terms of the trust, outlined in a written agreement, determine how assets are handled and distributed.

Trusts can be:

• Revocable – allowing you to change or cancel the trust during your lifetime
• Irrevocable – offering long-term asset protection and tax benefits by removing assets from your personal ownership

We help Westchester clients understand the purpose and structure of each trust type and choose the best fit for their estate plan.

Benefits of Trusts

Trusts offer several important advantages compared to a standard Will:

• Bypass probate, which saves time and court costs
• Maintain privacy – trusts do not become public record
• Plan for incapacity – a successor trustee can step in without court approval
• Protect beneficiaries from creditors or irresponsible spending
• Reduce estate taxes through strategic planning

Whether you’re looking to provide for minor children, plan for long-term care, or manage a large estate, a trust can provide essential benefits and flexibility.

Types of Trusts

We offer a wide range of trust options for Westchester residents, each with a specific purpose:

Revocable Living Trust

• Created during your lifetime and fully changeable
• Keeps control in your hands while simplifying administration after death or incapacity
• Avoids probate for all assets transferred into the trust

Irrevocable Trust

• Cannot be modified once created
• Removes assets from your taxable estate and shields them from certain liabilities
• Useful for Medicaid eligibility and tax planning

Special Needs Trust (SNT)

• Preserves government benefit eligibility for disabled beneficiaries
• Can be funded by parents, relatives, or a personal injury settlement

Medicaid Asset Protection Trust (MAPT)

• An irrevocable trust designed to preserve assets while applying for Medicaid-funded long-term care
• Must be created at least five years before applying for coverage

Irrevocable Life Insurance Trust (ILIT)

• Keeps life insurance proceeds outside your estate
• Provides tax-free funds to beneficiaries or to help cover estate taxes

Charitable Trusts

• Support meaningful causes while offering tax benefits
• Can provide income to your heirs and reduce the size of your estate

Dynasty Trust

• Protects wealth for multiple generations
• Helps avoid estate taxes each time assets pass to the next generation

Spousal Lifetime Access Trust (SLAT)

• Allows married couples to reduce estate tax while keeping access to assets through a spouse

Testamentary Trust

• Created under your Will and activated upon death
• Useful for providing structure and oversight for inheritances to minors or at-risk heirs

Funding the Trust

A trust only protects and controls assets that are placed into it. That’s why funding the trust is a critical step that cannot be overlooked.

We help clients in Westchester:

• Retitle real estate in the name of the trust
• Move investment and bank accounts into the trust
• Update life insurance and retirement plan beneficiaries
• Ensure personal property is included when appropriate

If assets are left out of the trust, they may still go through probate—defeating one of the main reasons for creating a trust in the first place.

Managing a Trust (Trust Administration)

Trust administration involves carrying out the terms of the trust, managing investments, paying bills or taxes, and distributing assets to beneficiaries. Trustees have legal duties and responsibilities, including:

• Acting in good faith and in the beneficiaries’ best interest
• Keeping accurate records and providing accountings
• Following the terms of the trust agreement
• Filing any required tax documents

We support trustees in Westchester with practical legal guidance to help them avoid mistakes and fulfill their obligations confidently.

Trusts and Tax Strategy

Trusts can help reduce exposure to federal and New York estate taxes. Some trusts are designed specifically for tax efficiency, while others may affect income tax obligations. We help you understand:

• When trusts remove assets from your taxable estate
• How income earned by the trust is taxed
• Which trust types offer deductions or charitable benefits
• How to structure distributions for tax efficiency

Coordinating with your financial and tax advisors, we build trust plans that preserve more of your estate for future generations.

Trusts and Long-Term Care Planning

Trusts also play a crucial role in elder law. Irrevocable Medicaid trusts help protect your home and savings while applying for long-term care benefits under New York Medicaid.

We help clients:

• Create MAPTs that meet Medicaid rules
• Transfer assets safely within the lookback period
• Balance income needs with eligibility goals
• Avoid nursing home spend-down requirements

Early planning is key to maximizing protection.

Frequently Asked Questions About Trusts

Do I still need a Will if I have a trust?
Yes—a “pour-over” Will ensures that any assets not placed in your trust are transferred into it upon your death.

Can I change my trust?
Revocable trusts can be changed at any time. Irrevocable trusts typically cannot be changed, though some flexibility may be built in.

Is a trust better than a Will?
Trusts offer more control, privacy, and efficiency than Wills, especially for those with property, complex families, or long-term care needs.

Are trusts only for the wealthy?
No. Many Westchester families use trusts to avoid probate, protect disabled relatives, or plan for Medicaid—even with modest estates.

How long does a trust last?
It depends on the trust’s terms. Some last for a few years, others for generations (like dynasty trusts).

Serving Throughout Westchester, NY

• Scarsdale
• Bronxville
• Larchmont
• Rye
• Chappaqua
• Pelham
• Armonk
• Mamaroneck
• Dobbs Ferry
• Tarrytown

How Cavallo & Cavallo Can Help

With decades of experience serving families across Westchester County, Cavallo & Cavallo provides knowledgeable, compassionate guidance in all areas of trust creation and management. We help you:

• Understand which trust is right for your goals
• Draft customized, legally sound trust documents
• Fund the trust and organize your assets
• Assist trustees with legal and tax responsibilities
• Resolve any disputes or questions that arise

We’re here to make trust planning simple, personal, and effective.

Talk to a Westchester Trust Attorney Today

A trust can be one of the most powerful tools in your estate plan—when it’s designed and managed the right way. Contact Cavallo & Cavallo today to speak with a trusted Westchester trust attorney and start building a strategy that protects your family, your assets, and your peace of mind.