New York Living Trust Forms
Download the New York Living Trust form which provides a way for an individual to direct the terms of the distributions of his or her property and assets by placing them in a separate entity managed by a trustee. The trust also provides continuity in that it is created during the grantor’s life and continues to exist after his or her death. The trustee, appointed by the grantor, has a fiduciary obligation to operate the trust in a way that is in the beneficiaries’ best interest.
Revocable vs. Irrevocable: A revocable trust, as the name suggests, may be revoked or changed during the life of the grantor, but it becomes irrevocable after the grantor passes. An irrevocable trust is not meant to be changed or revoked.