Trust vs. Will: Which Do You Need?

It is the most common estate planning question Brooklyn residents ask: do I need a will, a trust, or both? The two tools overlap, but they solve different problems, and choosing well depends on your assets, your privacy preferences, and how much you care about avoiding the Kings County Surrogate’s Court. Here is a clear, side-by-side comparison.

What Each Document Does

A will, executed under EPTL 3-2.1, is a set of instructions that takes effect only at death. It names who inherits, names your executor, and, crucially for young Brooklyn families, names a guardian for minor children. A revocable living trust under EPTL Article 7 is a container you fund during life; it manages your assets while you are alive and distributes them at death, all without court involvement if funded properly.

Probate: The Biggest Difference

A will must go through probate in the Kings County Surrogate’s Court under the SCPA. That is a public, court-supervised process that often takes many months before heirs receive anything. Assets held in a funded revocable trust bypass probate entirely, transferring privately and usually faster. For owners of a Brooklyn brownstone or co-op, avoiding a public probate filing is frequently the deciding factor in favor of a trust.

Privacy and Cost

A probated will becomes a public record; anyone can see who got what. A trust keeps those details private. On cost, the picture flips: a will is cheaper and simpler to create, while a trust costs more upfront and requires the extra step of retitling assets into the trust’s name. You are essentially choosing between paying less now (will) or saving your family time, court fees, and exposure later (trust).

What Neither One Does Alone

Here is what surprises people: neither a standard will nor a revocable trust reduces New York estate tax. The 2026 NY exclusion is $7,350,000, with a cliff at $7,717,500 above which the whole estate is taxed. Tax reduction generally requires irrevocable planning, a separate decision. And neither document covers incapacity during life, you still need a power of attorney under GOL 5-1513 and a health care proxy under PHL Article 29-C regardless of which path you choose.

Why You Often Need Both

Even people who set up a trust usually sign a pour-over will. It acts as a safety net, directing any asset you forgot to retitle into the trust into the trust at death, and it remains the only place to name a guardian for minor children. So the real choice is rarely will versus trust; it is will alone versus will-plus-trust.

Which Should a Brooklyn Resident Choose?

A will alone often suffices for a younger family with modest assets and straightforward wishes. A trust-centered plan tends to win for those who own valuable Brooklyn real estate, want privacy, own property in another state, or want their heirs to avoid the Surrogate’s Court entirely. The size and nature of your estate, not a one-size rule, should drive the decision.

The Bottom Line

A will directs and names guardians; a trust avoids probate and protects privacy. For many Brooklyn families the strongest plan uses both, with each doing the job it does best.

Consult a New York attorney. The right mix depends on your specific assets and family. Speak with a qualified New York estate planning attorney before deciding.