🗽 How to Create a Trust in New York (2025 Guide)

Want to avoid New York probate, protect assets, or pass on your home tax-efficiently? A trust is the smartest tool to do that — and no, you don’t need a $5,000 attorney.

This guide walks you through exactly how to create a trust in New York legally and affordably.

🔎 What Is a Trust?

A trust is a legal agreement where one person (the grantor) gives another (the trustee) the right to hold and manage property for someone else (the beneficiary).

The most common in New York is the Revocable Living Trust, which:

• Avoids the Surrogate’s Court probate process

• Lets you stay in control of your assets

• Automatically transfers property upon death

• Protects your family’s privacy and reduces legal delays

📍 Step-by-Step: How to Set Up a Trust in New York

Here’s what to do:

1. Choose Your Trust Type

• ✅ Revocable Living Trust (most common)

• Special Needs Trust

• Minor’s Trust

• Spendthrift Trust

• Legacy Trust (multi-generational planning)

✅ TrustGenie supports all of the above with lawyer-reviewed documents.

2. Assign the Key Parties

• Grantor – person creating the trust (usually you)

• Trustee – person who manages the trust

• Successor Trustee – takes over if the trustee can’t serve

• Beneficiaries – who will receive your assets

3. Gather Your Assets

• NY real estate (home, co-op, land)

• Bank accounts (checking, savings, CDs)

• Stocks and bonds

• Business ownerships

• Life insurance

• Vehicles

• Art, jewelry, personal property

✅ TrustGenie provides a Schedule A template and funding tools.

4. Sign and Notarize the Trust (New York Requirement)

• Must be signed by the grantor

• Must be notarized

• Witnesses are recommended, though not required by statute (some institutions prefer it)

✅ TrustGenie includes state-specific signing instructions and best practices.

5. Fund the Trust

This means transferring your assets into the trust name.

• File a New York Bargain and Sale Deed (or Quitclaim) with your county clerk

• Retitle bank accounts

• Notify investment providers to update ownership

• Use a General Assignment of Property for untitled items

🚨 If you don’t fund it, the trust won’t work as intended.

⚠️ New York-Specific Mistakes to Avoid

❌ Failing to transfer your co-op shares into the trust (requires board approval)
❌ Forgetting to update trust after a move, birth, marriage, or divorce
❌ Skipping the notary step (trust won’t be enforceable)
❌ Using online templates not adapted to NY law or deed structure
❌ Thinking a will does the same thing (wills = probate in NY)

💰 Cost of Creating a Trust in New York

Option Avg. Cost NY Estate Attorney$3,000 – $7,000 Generic Online Kits$100 – $500 TrustGenie Plan$150/year (includes NY deed template + funding guide)

🧠 Can I Make My Own Trust in NY?

Yes — New York allows individuals to create trusts without a lawyer as long as:

• It’s in writing

• Signed and notarized

• Includes a clear trustee, beneficiaries, and purpose

• It’s properly funded

✅ TrustGenie walks you through each of these with zero guesswork.

📎 Download: New York Trust Checklist (Free)

Get the step-by-step printable checklist to:

• Set up your trust

• Prepare for notarization

• Avoid state-specific issues

• Fund the trust completely

📥 [Download the NY Checklist Now]

✅ Ready to Create Your NY Trust?

TrustGenie makes estate planning simple — with ready-to-sign documents, unlimited updates, and full support.

👉 [Start Now – $150/year plan includes everything you need]

🔗 Related Articles:

• [How to Transfer Co-op Shares into a NY Trust]

• [Revocable vs. Irrevocable Trusts in New York]

• [NY Probate: What Happens Without a Trust?]

✍️ Written by:

TrustGenie Legal Team
Smart Trusts. Simple Setup. All 50 States.