Cover Your Assets: Credit and Asset Protection During a Divorce
As a person who has been through a traumatic divorce, let me say that you will get through it, no matter how impossible it may seem during the first few days and months.
Trusts in New York City
A trust is one of the most effective tools for protecting assets, avoiding probate, and creating long-term stability for the people you care about. At Crane Law, we help NYC families and individuals design trust-based plans that offer clarity, control, and lasting protection.
Trusted by Families, Professionals & the Legal Community
25+ years practicing law in New York
Hundreds of families guided through estate planning
Thousands of real estate closings completed successfully
Offices serving NYC, Westchester & surrounding communities
What is a Trust?
A trust is a legal arrangement that lets you place assets under the management of a trusted person, called a trustee, for the benefit of the people you choose. A well-crafted trust can help you avoid or simplify probate, protect your assets from delays or disputes, maintain privacy, provide for children or loved ones with unique needs, and safeguard wealth for future generations. Trusts are also a powerful tool for planning for incapacity, supporting charitable goals, and ensuring smooth financial management in a complex environment like New York City.
What Does a Trust Attorney Do?
Designing a trust isn’t just about forms, it’s about making sure your plan works exactly as intended. A trust attorney ensures every detail is legally sound, properly drafted, and carefully coordinated with your overall estate planning goals.
Crane Law helps clients:
Understand revocable vs. irrevocable trust options
Draft and customize trust documents tailored to their needs
Fund the trust correctly so it actually works (a critical step)
Transfer real estate, investments, businesses, and bank accounts into the trust
Coordinate beneficiary designations and long-term planning
Protect assets according to New York rules and limitations
Avoid probate issues, conflicts, and common mistakes
Types of Trusts in New York
The best trust depends on your assets, goals, family structure, and level of protection needed.
Flexible and fully changeable during your lifetime. Helps avoid probate, maintain privacy, and ensure smooth financial management if you become incapacitated.
Provides strong asset protection and potential estate tax benefits. Commonly used for long-term security, generational planning, and Medicaid strategies (when appropriate under New York rules).
Created through your will and activated after your passing. Helpful for minor children, blended families, or anyone who needs structured support.
Supports philanthropic goals while providing lifetime income and potential tax advantages.
Designed to protect assets from certain risks.
Why Trusts Matter for NYC Families
Trusts offer powerful protection in a city where financial lives can be complex. A trust can help:
Avoid lengthy NYC probate
Protect co-ops, condos, and investment properties
Maintain privacy around wealth and inheritance
Provide structure for children or beneficiaries needing guidance
Prevent disputes between heirs
Support unmarried partners or blended families
Offer tax-efficient options for high-net-worth families
Ensure continuity if you become incapacitated
A trust creates clarity today and stability for the future.
Our Trust Services
Crane Law provides comprehensive trust planning tailored to your goals and assets.
Trust Creation & Strategy
Designing revocable, irrevocable, testamentary, and charitable trusts.
Trust Funding Assistance
Ensuring real estate, investments, and accounts are properly transferred, so the trust actually works.
Wealth Transfer & Multi-Generational Planning
Protecting family assets and creating long-term stability.
Real Estate Guidance
Support for transferring co-ops, condos, rental properties, and investment portfolios into trusts.
Asset Protection Planning
NY-compliant strategies for shielding wealth from certain financial risks.
Trust-Based Estate Planning
Coordinating your trust with your will, POA, and healthcare directives.
Why Work With Crane Law
Clients rely on Crane Law because we provide:
Clear explanations in plain English
Customized trust strategies based on your family and assets
Deep knowledge of New York trust and inheritance law
Experience with both simple and complex trust structures
Steady, supportive guidance through every decision
Creating a trust shouldn’t feel overwhelming, we make it clear, calm, and tailored to your life.
What Families Say
FAQs About Trusts in NYC
What is the difference between a revocable and irrevocable trust?
A revocable trust remains flexible and changeable. An irrevocable trust offers stronger protection but cannot be easily altered.
Do trusts avoid probate?
Yes. Assets in a properly funded trust avoid New York probate.
How do I set up a trust?
You work with an attorney to draft the trust, choose a trustee, and fund it with the appropriate assets.
Does a trust protect assets?
Some types do. Irrevocable trusts can offer strong protection when used appropriately.
Can I put my house in a trust?
Yes. Many NYC homeowners place real estate in trusts to simplify inheritance and avoid probate.
How much does a trust cost?
Costs vary by complexity. You’ll receive clear, upfront pricing before any work begins.
