Estate Planning Isn’t Just For The Elderly

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Revocable Living Trust V. Last Will

On Behalf of | May 7, 2020 | Wills & Trusts

For many years attorneys in New York have debated the merits of using a Revocable Living Trust (RLT) or a Last Will and Testament (LWT) as the estate planning tool of choice. The Covid19 pandemic with its resulting closure of the Surrogate’s Courts in New York State has helped tipped the scales towards utilizing a RLT as it does not require that it be admitted to Probate in the Surrogate’s Court in the county where the decedent resided. Avoiding filings with the Court and the time, delays, legal fees and Court costs of the Probate process is a significant advantage of using the RLT.