Why Probate Can Cost Time and Money, and How We Help You Minimize It
Probate is the court-supervised process of proving a will as legal and enforceable and then transferring assets. In New York and Connecticut, that can mean:
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Months (or more) of delay before beneficiaries receive anything
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Public court filings that include your will list your assets for anyone to see
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Legal and accounting fees that come out of the estate
At The Wills & Trusts Firm, LLP, we focus on trust-based estate planning and other proven tactics to minimize probate so your loved ones inherit quickly, privately, and at lower costs.
1. Set Up a Revocable Living Trust — Your First Line of Defense
A revocable living trust lets you transfer ownership of most assets to a legal entity you control during life and choose a successor trustee to manage them after death.
Why it works in New York and Connecticut
| Benefit | What It Means for You |
|---|---|
| Bypasses Surrogate’s Court | Assets in the trust go directly to beneficiaries—no probate file, no waiting period. |
| Customizable Control | You decide when and how each heir receives funds (in stages, at ages, etc.). |
| Built-in Incapacity Plan | If you become ill, your successor trustee steps in without a separate guardianship proceeding. |
Our role: We draft the trust, help you retitle your bank/investment accounts, and can assist with deed transfer/recording (usually with affiliates, especially with coops) so nothing falls through the cracks.
2. Use Beneficiary Designations for Non-Probate Transfers
Certain financial products already let you name a direct beneficiary:
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Retirement accounts (401(k), IRA)
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Life insurance policies
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Brokerage accounts with Transfer-on-Death (TOD) forms
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Bank accounts with Payable-on-Death (POD) clauses
Action step: Ask every institution for its latest beneficiary form. Our team will review them with you to ensure they sync with your broader estate plan.
3. Title Property the Smart Way
Proper titling can keep high-value assets out of probate:
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Joint Tenancy with Rights of Survivorship (JTWROS) – Surviving owner automatically inherits.
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Tenancy by the Entirety (married couples only) – Adds creditor protection plus probate avoidance.
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Trust ownership – For real estate or LLC membership interests, retitling to the trust is usually best.
Tip: Avoid “fixing” titles yourself on deed websites; recording errors create bigger headaches later. Let a real-estate-savvy trust attorney (or our real estate attorney colleagues) handle it.
4. Leverage New York’s Small-Estate Affidavit (When It Fits)
If the probate-able estate is $50,000 or less, heirs may use a simplified “Voluntary Administration” procedure. Our attorneys can confirm eligibility and prepare the necessary affidavits—often in a single meeting.
5. Gift Strategically During Life
Annual "exempt" gifts (in 2025, up to $19,000 per donee, per donor) reduce the eventual probate estate while staying under federal gift-tax radar. Larger lifetime gifts can also be shielded with proper filings.
Your 3-Step Action Plan
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Schedule a Strategy Session
Call (212) 867-9120 or book online to explore the potential fit with our firm. -
Draft & Fund Your Plan
We prepare your revocable living trust, updated wills, powers of attorney, and health proxies—all within 2–3 weeks—then help you retitle assets and update beneficiaries. -
Stay in Touch
Laws, assets, and families change. Our annual check-in program keeps everyone's contact info current and reminds you that we're here when you're ready for an update.
Ready to Make a Plan?
Is there a deadline here? Nope. But... sooner started, sooner finished. The Wills & Trusts Firm, LLP has guided thousands of clients in New Yorker and Connecticut through will- and trust-based estate planning that keeps their families out of court and out of the headlines.
Book your free 30-minute consultation today, and let’s build a plan that works for you.