Albany Revocable Living Trust Attorney

A revocable living trust is the cornerstone of a well-structured estate plan because it combines flexibility with clarity. Grantors who choose this type of trust arrangement are free to update it as needed and direct how their assets are transferred to the beneficiaries after death, without having to pass through probate.

At Pierro, Connor & Strauss, we help New Yorkers in the Capital Region create trusts that align with their legacy and wishes for their loved ones. With our guidance, our clients make thoughtful, informed decisions about the various types of trusts available under New York law. On this page, we will discuss one of the most practical and flexible options we set up for our clients every day, the revocable living trust.

“A trust is a legal agreement, but what it represents is your script for what could happen in the future—planning for disability or death, reducing taxes, protecting assets and avoiding probate are all covered, with the people YOU choose following your plan.”

—Louis Pierro, Founding Partner

What Is a Revocable Living Trust?

A revocable living trust is a way to hold and manage assets in the name of a trust while you’re alive, and then transfer them to the people or organizations you choose, such as family members, loved ones, or charities, after your death, according to your written instructions.

It’s “revocable” because the grantor retains control. As the creator of the trust, you can change the terms, move assets in or out, or revoke the trust entirely at any time during your lifetime.

For many families, the practical value is this: a properly funded trust can make the transition after death smoother and more private than relying on a will alone, and it can also provide a clear plan for managing trust assets if you’re ever temporarily or permanently unable to handle financial matters due to illness or injury.

Albany Trusts Team

Louis W. Pierro

AARON E. CONNOR

Frank E. Hemming III

Patricia T. Whelan

Contact us today for a FREE consultation

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How Revocable Living Trusts Work in New York

Revocable living trusts in Albany are created by signing a written trust agreement that identifies the:

Grantor: The person who creates the trust
Trustee: The person responsible for managing the trust assets during your lifetime, often being the grantor, with a successor trustee named to step in later
Beneficiaries: The individuals or organizations who receive the trust assets according to your instructions
Trust Property: The assets you transfer into the trust

After you sign the trust, you transfer ownership of your property (your house, bank accounts, or investments) into the trust’s name. This process is called “funding the trust” and is a key step, since the trust can only control the assets transferred into it.

If assets are left outside of the trust, those assets may be subject to probate, so it is crucial to fund your trust properly.

How to Fund a Revocable Living Trust

Funding the trust means transferring assets from your individual name into the trust’s name. The process varies based on asset type. Typical sources of trust funds come from:

Real Estate: Grantor transfers title to the property, with the trust listed as the owner.
Bank Accounts: Retitle the accounts to reflect ownership by the trust.
Investments: Stocks and bonds get transferred into the trust’s name.
Life Insurance: Name the trust as the beneficiary of your life insurance policy to ensure the proceeds pass according to the terms of the trust.

Remember, assets not moved into the trust properly may not be covered by it. Working with an Albany estate planning lawyer is the best way to ensure compliance with New York state trust law.

Benefits of Revocable Living Trusts

Families choose revocable living trusts for reasons that go beyond paperwork. These estate planning tools can offer three main advantages:

Privacy

A trust can protect your family and avoid the public probate process after you pass.

Flexibility

You retain control of your assets and can make adjustments as your circumstances evolve.

Continuity

If you become incapacitated, your successor trustee can step in without court involvement.

While revocable living trusts in Albany don’t replace every planning tool, they can make certain aspects of managing your estate smoother and more predictable for your loved ones.

Revocable Living Trust Versus a Will: What’s the Difference?

A will and a revocable living trust can both direct where your assets go, but they work in different ways.

A will is a document that directs how your property is distributed after your death and can name guardians for minor children. However, a will typically must be submitted to the county where you reside, for example the Albany County Surrogate’s Court for probate, a legal process that can take time and become public record.

By contrast, a revocable living trust functions during your lifetime and continues after your death. If the trust is properly funded, the assets titled in the trust can be managed and transferred to your beneficiaries with less court involvement and greater privacy than a will alone—reducing delays during an already stressful time for friends and family.

That said, some people use both a trust and a will, with the will serving as a backup for assets not placed in the trust. This type of will is called a “pour-over will,” which directs assets that were not transferred into the trust during your lifetime to be ‘poured over’ into the trust after death, allowing them to be distributed according to the terms of the trust. The Albany trust-planning attorneys at Pierro, Connor & Strauss can help you determine which option best suits your needs.

What Our Albany Clients Are Saying

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Frank Hemming was great to work with through out the whole process of creating our family trust. He is very professional and knowledgeable and a great asset to the firm. I would highly recommend Frank and Pierro, Connor & Strauss, LLC for all your Elder Law needs. Also thank you, Kathy, for your assistance. Thank you for everything!

– David & Dottie H.

We had an excellent experience with Pierro, Connor, and Strauss. We were looking for a law firm to help us prepare a will, and they advised us on everything we needed for not only that but also dealing with the disposition of remains and other aspects you may not necessarily know about or think about.

The entire process went smoothly; we were able to review every single document that had been prepared, ask questions, make corrections and alterations, and sign something that we knew would have us prepared for the worst. We will certainly reach out to them in the future for any of our legal needs.

– Luigi V.

I had a will which was ancient and life experiences over many years had basically made the document useless. I was an acquaintance of Aaron Conner from outside his profession as an attorney but knew that he and his firm could help me to update my will.

I contacted Aaron and supplied the information that he needed to bring my estate planning up to date. Aaron reviewed the material that I provided and suggested that it would be best to create a more comprehensive package of estate documents. With the help of Kristen Peck, another attorney at Pierro, Conner & Strauss, we established a complete set including a trust, will, health care proxy, and a power of attorney.

I was very happy with the entire process and appreciated the expertise and good nature of all the staff at Pierro, Connor & Strauss who were involved in helping me establish a thorough estate plan. I would recommend them to anyone looking to do the same.

– Gary D.

My first experience with Pierro, Connor & Strauss was when my parents needed to set up a trust and I was part of that process. Aaron Connor was the attorney who headed up that service and did such an excellent job that I came back several years later when my wife and I were ready to set up our Trust.

Fast forward to earlier this year, Frank Hemming was the attorney who handled our Trust, Wills, Power of Attorney, Health Proxies, and other related documents. Frank did an outstanding and professional job of walking us through the process, explaining the legalese in everyday terms and shared some personal experiences and examples that you could easily relate to and understand.

I was also impressed with the thoroughness and organization of the legal documents deliverable, as well as their fair and reasonable rates. I highly recommend Pierro, Connor & Strauss to anyone looking for an attorney who specializes in Trusts and Estate Planning!

– Richard L.

The entire process with this group was seamless. Every detail was spelled out, every wish of ours was taken into account. I felt we had a strong advocate in our corner to protect our wealth and provide for our future family. If you want a law firm that works for you, this is it.

– Erik S.

I had the pleasure of working with Lou Pierro and Frank Hemming regarding Long Term Care Planning. They are very knowledgeable and made wonderful suggestions that I would never have thought of doing. They did the whole package of an Irrevocable Trust, Will, Health Directive, and Power of Attorney. Their fee is reasonable for the amount and quality of the work performed. I felt very comfortable with their abilities and helpfulness.

– Carolyn F.

Pierro, Connor & Strauss: Albany Trust Attorneys

At Pierro, Connor & Strauss, revocable living trusts are a core part of our practice. With a large team of lawyers and support staff and decades of combined experience, we offer the depth and support to build an estate plan that’s tailored, thorough, and properly implemented.

All of our trust attorneys:

Listen carefully to your goals and concerns, so your plan reflects what matters to you
Explain legal options in plain language, so you understand the “why” behind recommendations
Walk you through funding the trust step-by-step to make sure it works as intended
Review your broader estate plan to align the trust with other documents, like powers of attorney and health care directives.

Talking with an attorney can give you a clearer picture of what a living trust might mean for your family. Our goal is to make that conversation as straightforward and supportive of your goals as possible.

Contact Our Revocable Living Trust Attorneys Today

Planning for the future requires both clarity and confidence. Our team understands the complexities of navigating family situations, but with experienced guidance, we can design an estate plan that reflects your values and brings your family peace of mind.

Get in touch with us today to set up a confidential consultation. Pierro, Connor & Strauss works with clients in and around Albany, the entire Capital Region, and across New York State.

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Contact us today for a FREE consultation and we’ll be happy to help take the worry out of tomorrow so you can live today.