Clark Peshkin
Trusts & Trust Funding in New York State
Secure Your Legacy with Personalized Estate Planning Solutions
Trusts are among the most powerful tools in estate planning, providing control, privacy, asset protection, and ease in transferring wealth to your loved ones. Whether you’re looking to simplify inheritance, reduce estate taxes, avoid probate, or safeguard your assets for future generations, a well-drafted and properly funded trust offers security and peace of mind.
At Clark Peshkin, we understand that estate planning can feel complicated and overwhelming. Our experienced attorneys provide clear guidance and tailored advice to help you establish and fund a trust that aligns perfectly with your goals.
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Understanding Trusts in Estate Planning
A trust is a legal arrangement where one party (the trustee) manages assets on behalf of another (the beneficiary), following instructions established by the person creating the trust (the grantor). While living, you can be the trustee, beneficiary, and grantor of your own trust.
Why Create a Trust?
People choose trusts for various reasons, including:
- Avoiding probate to save time, money, and stress for loved ones.
- Asset protection for beneficiaries from creditors, lawsuits, or divorce.
- Providing for minors or individuals with special needs.
- Reducing estate and gift taxes through strategic planning.
- Ensuring privacy, as trusts remain private, unlike wills which are available to the publicand handled during a pubic court proceeding called probate.
- Controlling distributions, allowing you to specify exactly when and how beneficiaries receive their inheritance.
Trusts aren’t just for the wealthy — anyone who owns property, has minor children, or values simplicity and privacy in their estate plan can significantly benefit from creating a trust.
Types of Trusts We Offer
Every family’s situation is unique. Our attorneys help you select the right trust structure or combination of trusts to meet your personal and financial objectives:
- Revocable Living Trusts — Flexible trusts allowing you to maintain control during your lifetime while avoiding probate after death.
- Irrevocable Trusts — Ideal for asset protection, Medicaid planning, or minimizing estate taxes.
- Supplemental (Special) Needs Trusts — Provide financial security for individuals with disabilities without jeopardizing eligibility for government benefits.
- Charitable Trusts — Allow you to support your favorite causes and reduce taxes.
- Life Insurance Trusts — Keep life insurance proceeds out of your taxable estate.
- Testamentary Trusts — Trusts activated upon your death through provisions in your will.
- Spousal Lifetime Access Trusts (SLATs) — Irrevocable trusts that allow one spouse to benefit the other, removing assets from the taxable estate while preserving indirect access through the beneficiary spouse.
Trust Planning for Non-Married Partners and Chosen Family
In New York, if you pass away without an estate plan, state law will determine who inherits your assets — typically defaulting to biological relatives. This can leave non-married partners, close friends, or chosen family entirely unprotected.
A well-crafted trust allows you to ensure that the people you care about most — regardless of legal or biological ties—receive what you intend. Trust planning not only gives you control over your legacy but also helps your loved ones avoid the delays and costs of probate, ensuring a smooth, private, and efficient transfer of assets.
The Importance of Trust Funding
Creating a trust is only the first step — funding the trust is what makes it effective. Funding means legally transferring ownership of your assets into the trust. Without this step, your trust cannot carry out its intended purpose or offer the protection and efficiency it was designed to provide.
For example, if you own a home, the title must be transferred to the name of your trust. That way, when you pass, the trust — not the courts — controls the transfer of ownership. Without this, the asset remains outside the trust and may be subject to probate, requiring a judge to step in.
Properly funding your trust ensures that your wishes are carried out smoothly and that your loved ones avoid unnecessary delays and court involvement.
Common Assets Transferred to Trusts Include:
- Real estate (primary residence, vacation homes, rental properties)
- Bank accounts and investment accounts
- Business interests and partnership shares
- Life insurance policies
- Personal property, valuables, and collectibles
Our experienced team at Clark Peshkin assists by:
- Retitling assets into your trust
- Coordinating with financial institutions, insurance companies, and investment advisors
- Ensuring beneficiary designations align seamlessly with your trust-based plan
- Preparing all necessary legal documentation for transfers
The Trust Creation & Funding Process
We simplify the process into four clear steps:
1. Initial Consultation & Strategy Session
We discuss your unique goals, assets, and family dynamics, providing education and clarity around your estate planning options.
2. Drafting Your Trust Documents
Our attorneys create a customized trust document tailored to your objectives and fully compliant with New York and federal laws.
3. Asset Funding & Implementation
We work closely with you to ensure all assets are properly transferred and titled into your trust, guiding you step-by-step.
4. Ongoing Review & Updates
As life circumstances change, we stay connected to review, revise, and update your trust plan, ensuring it remains effective and relevant.
Why Choose Clark Peshkin for Your Trust Planning?
- Experienced Legal Team:
Our experienced attorneys and support staff bring personalized solutions and strategic guidance to your family’s estate planning needs. - Personalized, Client-Focused Service:
We listen carefully, prioritize your goals, and provide clear, practical advice tailored specifically to your situation. - Local Knowledge & Accessibility:
Serving communities throughout Western and Central New York, including offices in Rochester, Buffalo, and Syracuse, our attorneys understand local nuances and offer convenient support close to home. - Educational & Empowering Approach:
Our goal is to help you feel informed and confident about your estate planning decisions. We educate our clients every step of the way.
Attend a Free Estate Planning Workshop
Join our informative, no-obligation workshop where you will learn:
- The utility of the various estate planning tools, like wills and trusts.
- The differences between probate and estate administration.
- Strategies to protect your assets from nursing home costs through Medicaid planning.
- Common estate planning pitfalls to avoid.
- Engage in a Q&A session where you can ask your specific questions.
To attend, simply contact us or visit our Estate Planning Workshop Registration page.
Convenient Office Locations
We proudly serve clients throughout New York from our centrally located offices:
Buffalo Office:
Serving Erie County and Western New York
716.486.3134
Rochester Office:
Serving Monroe County and surrounding communities
585.546.1734
Syracuse Office:
Serving Onondaga County and Central New York
315.679.5512
Ready to Take the First Step? Contact Clark Peshkin Today
Protect your loved ones and safeguard your legacy. Don’t leave your future to chance — let our experienced estate planning attorneys help you create a clear, legally sound plan.
Schedule a Consultation by contacting the office closest to you:
Client Testimonials & Our Blog: Learn From Others’ Experiences
Client Testimonials
See firsthand how we’ve assisted families like yours by visiting our Client Testimonials page. Real stories from our clients highlight our approach, outcomes, and the peace of mind our process provides.
Explore Our Blog
For ongoing insights into estate planning, trusts, elder law, and more, visit our regularly updated Blog. We provide clear, useful articles to help demystify the estate planning process.