Why Every Brooklyn Homeowner Needs a Trust

📌 A House Isn’t Just a Home—It’s Your Legacy

For most Brooklyn families, their home is their largest—and most personal—asset. Whether it's a brownstone in Park Slope, a co-op in Bay Ridge, or a duplex in Dyker Heights, your property holds financial value and emotional weight.

So why risk losing it to probate, taxes, or long-term care costs?

The answer for many New York homeowners is a trust.

At Alatsas Law Firm, we help property owners across Brooklyn use trusts to protect their homes, simplify inheritance, and preserve generational wealth.

🧾 What Is a Trust—and Why It Matters

A trust is a legal arrangement that lets you transfer ownership of your assets—like real estate—to a trustee, who manages them for the benefit of chosen beneficiaries.

Trusts are not just for the wealthy. They’re tools to:

• Avoid court delays

• Keep your affairs private

• Control how your assets are used

• Prevent disputes among heirs

• Reduce estate tax exposure

🔗 Explore our estate planning services »

🧠 Key Advantages of a Trust for Brooklyn Homeowners

1. ✅ Avoiding Probate

Probate in Kings County Surrogate’s Court (or Queens County or any other County in downstate New York) can take months, sometimes over a year. During that time:

• Your home may be tied up

• Heirs can't sell or rent it

• Legal fees and court costs reduce your estate

Trusts avoid this entirely. When your home is placed in a revocable or irrevocable trust, it passes directly to beneficiaries without court involvement.

🔗 Learn how to avoid probate in New York »

2. 🔒 Protecting Your Home From Medicaid Recovery

Medicaid can help pay for nursing home care—but if your house is still in your name, New York can place a lien on it after you pass away to recover those costs.

Placing your home into a Medicaid Asset Protection Trust (MAPT) at least 5 years before applying ensures:

• You remain eligible for care

• Your home stays in the family

• The state cannot seize it after death

📌 Many people mistakenly assume owning a home disqualifies them from Medicaid. It doesn’t—but the wrong ownership structure puts it at risk.

🔗 What is a Medicaid Asset Protection Trust? »

3. 🔐 Maintaining Privacy

Wills are public documents. That means anyone—including strangers—can access the value and details of your estate through the court.

Trusts, on the other hand, are private. Your wishes, assets, and family matters stay out of the public record.

4. 🏡 Keeping the Family Home in the Family

A trust allows you to:

• Decide who inherits your home

• Set conditions (e.g., children must live in the house or share ownership)

• Prevent the home from being sold prematurely

This is especially helpful for:

• Multi-unit properties

• Mixed-family situations

• Protecting a disabled child’s residence

🔀 Types of Trusts for Brooklyn Homeowners

🧾 1. What is a Revocable Living Trust?

• Lets you retain control of your assets

• Can be changed or revoked at any time

• Avoids probate, but does not protect from Medicaid or creditors

Best for: avoiding probate and maintaining flexibility

🔒 2. What is an Irrevocable Trust pr Medicaid Asset Protection Trust (MAPT)?

• Once established, it cannot be easily changed

• Removes assets from your taxable estate

• Protects from Medicaid and lawsuits

Best for: long-term planning and asset protection

💼 3. Testamentary Trust

• Created through your will

• Doesn’t avoid probate

• Useful for controlling assets for minors or special needs children

Best for: structured inheritance and guardian control

📍 Brooklyn Case Study: Trust in Action

Maria, a 72-year-old Bay Ridge homeowner, wanted her home to pass to her daughter but feared nursing home costs.

We created a MAPT:

• Maria retained the right to live in the home for life

• Her daughter became trustee and future beneficiary

• 6 years later, Maria entered a nursing home and qualified for Medicaid

• When she passed, her daughter inherited the home without probate, liens, or taxes

🧩 Trust vs. Will: What’s Right for You?

🔗 Compare wills and trusts »

🚫 Mistakes to Avoid

• Naming yourself trustee of an irrevocable trust

• Funding the trust incorrectly (you must deed your home into it!)

• Waiting too long—remember the 5-year Medicaid look-back

• Ignoring tax implications for capital gains or STAR exemptions

🔗 See how to update your deed properly »

👨‍⚖️ How a Trust Attorney Helps

At Alatsas Law Firm, we don’t just hand you a document—we walk you through:

• Picking the right type of trust

• Deeding your home into it

• Updating your insurance and tax exemptions

• Naming responsible trustees

• Coordinating with Medicaid planning and other legal tools

💬 Real Client Story

“Thanks to Teddy’s help, we moved my parents’ house into a trust in time. When mom needed Medicaid, we kept the house safe, and now it’s staying in the family—just like they wanted.”
— Carla G., Bensonhurst

🏁 Ready to Protect Your Brooklyn Property?

You’ve worked hard to buy your home. Don’t let probate, Medicaid, or poor planning put it at risk.

📍 Our office serves homeowners across Brooklyn, including Bay Ridge, Gravesend, Flatbush, and Midwood.

📞 Call (718) 233-2903 or
🔗 Schedule your free trust consultation »