If you're like most middle-income families in Brooklyn, you've probably heard about wills and trusts but wonder which one is right for protecting your family's future. Maybe a well-meaning friend mentioned you "definitely need a trust," while your neighbor swears a simple will is all anyone needs. The confusion is real, and I get it—estate planning terminology can feel overwhelming when you're just trying to do the right thing for the people you love.
Here's the truth that might surprise you: it's not always about choosing one over the other. Many families actually benefit from having both. But before we get into that, let's break down what each document does and why you might need a will, a trust, or both to create the comprehensive protection your family deserves.
What Exactly Is a Will?
Think of a will as your final instructions to the world. It's a legal document that speaks after you're gone, telling everyone exactly who should receive your belongings, who should manage your estate, and—perhaps most importantly for parents—who should care for your children if something happens to you.
A will is straightforward and relatively affordable to create. In it, you can:
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Name beneficiaries for your property and assets
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Designate guardians for your minor children
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Appoint an executor to handle your estate
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Express your wishes about funeral arrangements
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Provide for pets
The catch? Your will must go through probate—a court-supervised process where a judge validates your will and oversees the distribution of your assets. In New York, probate typically takes anywhere from six months to over a year, and yes, it becomes part of the public record. That means anyone can look up what you owned and who inherited what.
Understanding Trusts: More Than Just for the Wealthy
Now, let's talk about trusts. Many Brooklyn families assume trusts are only for millionaires, but that's one of the biggest misconceptions in estate planning. A trust is actually a legal arrangement where you (the "grantor") transfer ownership of your assets to a trust, which is managed by a trustee for the benefit of your chosen beneficiaries.
The most common type is a revocable living trust, which you can change or cancel at any time during your lifetime. You can even serve as your own trustee, maintaining complete control over your assets while you're alive and capable.
Here's what makes trusts powerful:
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Avoiding probate: Assets held in a properly funded trust bypass the probate process entirely, meaning your family gets access to those assets much faster—often within weeks rather than months or years
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Privacy protection: Unlike wills, trusts don't become public record, keeping your family's financial matters confidential
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Incapacity planning: If you become unable to manage your affairs due to illness or injury, your successor trustee can immediately step in to handle your finances without requiring court intervention
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Control over distribution: You can specify exactly when and how beneficiaries receive their inheritance—helpful if you have young adult children or concerns about a beneficiary's spending habits
The Real Benefits of Having a Will
Now that we've covered both options, let's get specific about the benefits of a will. For many Brooklyn families, a will provides essential protections that a trust simply cannot offer.
Naming Guardians for Your Children
This is non-negotiable for parents: only a will allows you to legally designate who will raise your children if both parents pass away. No matter how comprehensive your trust might be, it cannot name guardians. If you have minor children and don't have a will, a judge will decide who cares for them based on New York law—and that might not align with what you would have chosen.
Cost-Effectiveness and Simplicity
Let's be honest about finances—for families with modest estates and straightforward asset distribution wishes, a will offers significant value without the higher cost of establishing and maintaining a trust. A basic will in New York typically costs between $300 and $1,000, while a trust can run $1,500 to $3,000 or more, depending on complexity.
Covering All Your Bases
A will serves as your safety net. Even if you have a trust, you should still have what's called a "pour-over will" that directs any assets you didn't transfer into your trust to "pour over" into it after your death. This catches those items you might have forgotten about or acquired shortly before passing.
Addressing Personal Property and Sentimental Items
Wills excel at distributing personal property—your grandmother's ring, the family photos, your book collection. These items might not have significant monetary value but carry immense emotional weight. A will lets you specify exactly who receives these treasured possessions.
When a Will Alone Might Be Enough
You might do just fine with only a will if:
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Your total estate value is under $100,000
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You don't own real estate, or you only own your primary residence as joint tenants with your spouse
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Your children are minors who need guardian designation, but you don't have complex distribution concerns
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You're comfortable with the probate process and the public nature of wills
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Your family relationships are straightforward and harmonious (minimal risk of disputes)
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Your assets primarily consist of retirement accounts and life insurance, which pass to beneficiaries outside of probate anyway
Why Many Brooklyn Families Choose Both
Here's where estate planning gets interesting: for many middle-income families in Brooklyn, the optimal solution isn't will OR trust—it's will AND trust. Let me share why this combination often makes the most sense.
The Dynamic Duo Approach
A revocable living trust can hold your major assets—your home, investment accounts, savings—allowing them to bypass probate and transfer quickly and privately to your loved ones. Meanwhile, your pour-over will acts as your backup, catching anything you might have missed while also naming guardians for your children.
This combination is particularly valuable if you:
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Own a home in Brooklyn (where probate can be especially time-consuming and costly)
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Have a blended family with children from previous relationships
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Want to protect your spouse while also ensuring your children eventually inherit
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Have elderly parents or relatives who might need long-term care (strategic trust planning can help with Medicaid eligibility)
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Own a small business that needs continuity of management
Real-World Protection for Your Family
Let me paint a picture of how this works in practice. Say you're a family in Bensonhurst with a paid-off row house, some savings, retirement accounts, and two teenage children. Your home goes into a revocable living trust, along with your savings. Your retirement accounts already have designated beneficiaries (your spouse, then your children). Your will names guardians for your kids and includes a pour-over provision for anything not in the trust.
If something happens to both parents, here's what happens: The house and savings transfer immediately to your children through the trust, managed by your chosen trustee until they reach an age you specified. Your retirement accounts pass directly to them as beneficiaries. Any last-minute assets (maybe you inherited something right before your passing) pour into the trust through your will. And critically, the guardians you named in your will take custody of your children.
No lengthy probate for your major assets. Your children have immediate access to funds they need. Their inheritance is managed responsibly. And they're cared for by the people you chose.
Addressing Common Concerns About Trusts
Despite their benefits, some families hesitate about trusts due to misconceptions. Let's address these directly:
"Trusts are too complicated." While trusts involve more paperwork initially than wills, working with an experienced estate planning attorney makes the process manageable. Once established, a revocable living trust is relatively easy to maintain—you just need to ensure your assets are properly titled in the trust's name.
"I can't afford a trust." Consider this: New York probate fees can cost 3-5% of your estate's value, plus attorney fees. For a $400,000 home (modest by Brooklyn standards), that's $12,000-$20,000 in probate costs. A trust that costs $2,500 to establish suddenly looks like a bargain—and provides benefits beyond just cost savings.
"I'll lose control of my assets." With a revocable living trust, you maintain complete control. You can buy, sell, and manage assets exactly as you do now. You're typically both the grantor and the trustee during your lifetime, and you can modify or revoke the trust anytime.
Special Considerations for Brooklyn Families
Living in Brooklyn presents some unique estate planning considerations that might tip the scales toward including a trust in your plan:
Real Estate Values
Even modest Brooklyn homes have appreciated significantly in recent years. Properties that families bought for $200,000 twenty years ago might now be worth $800,000 or more. Once your estate value exceeds certain thresholds, the benefits of avoiding probate become more pronounced.
Multigenerational Households
Many Brooklyn families live in multigenerational arrangements—perhaps elderly parents live with you, or adult children are still at home. A trust can provide clear instructions for how property and caregiving responsibilities should be handled, reducing potential family conflicts during an already difficult time.
Long-Term Care Planning
With the astronomical cost of nursing home care in New York (averaging $15,000-$20,000 per month), strategic use of irrevocable trusts can help protect your home and savings while potentially qualifying for Medicaid benefits. This type of planning requires professional guidance but can make the difference between preserving your legacy and depleting your life savings.
Making the Right Choice for Your Family
So what's the bottom line? For most Brooklyn families, the question isn't really "will vs. trust"—it's "what combination of estate planning tools will best protect my family?"
Here's a practical framework for thinking about your needs:
Start with a will if: You have children (you need to name guardians), your estate is straightforward, and you're working with a limited budget. A will is foundational—nearly everyone needs one.
Add a trust if: You own real estate, have significant assets (over $100,000), value privacy, want to protect against incapacity, or have complex family dynamics. The peace of mind and practical benefits often justify the additional cost.
Get professional guidance if: You have any doubts. Estate planning mistakes can be costly and sometimes impossible to fix after you're gone. An experienced estate planning attorney familiar with New York law can help you design a plan that fits your specific situation.
At Alatsas Law Firm, we've spent nearly three decades helping Brooklyn families navigate these exact decisions. We understand the unique challenges you face—balancing the need to protect your family's future with the realities of middle-income budgets, and ensuring your estate plan honors your family's values while providing ironclad legal protection.
Taking the Next Step
Estate planning isn't just about documents—it's about ensuring your family is taken care of no matter what happens. Whether that means a simple will, a comprehensive trust, or a strategic combination of both depends on your unique circumstances.
The most important step? Actually creating a plan. Too many families keep postponing this crucial conversation, assuming they have more time. But life is unpredictable, and the greatest gift you can give your loved ones is the security of knowing you've prepared for their future.
Have questions about whether a will, a trust, or both makes sense for your family? The conversation starts with understanding your specific situation, your assets, your family dynamics, and your goals. Don't let confusion or procrastination leave your family vulnerable to uncertainty and unnecessary complications down the road.
What concerns do you have about estate planning? What questions do you wish someone would answer plainly, without legal jargon? Your family's future is worth getting this right.
