SYRACUSE, NY – A living trust is not a document that individuals sign once and set aside permanently, and failing to update the plan when life circumstances change can undermine the protections it was designed to provide for families in Central New York. Syracuse estate planning attorney Frederick P. Davies of Davies Law Firm (https://davieslawfirm.com/when-to-update-living-trust-new-york/) is highlighting the key life events and legal changes that may require New York families to review and amend their living trust estate plans.
According to Syracuse estate planning attorney Frederick P. Davies, estate planning professionals generally recommend reviewing a living trust every three to five years, or whenever a major life event occurs. Under New York EPTL Section 7-1.16, a lifetime trust is irrevocable by default unless its terms expressly state that it is revocable, making it essential for individuals to confirm the revocability of their trust before attempting any changes. A trust that was well drafted several years ago may have gaps today because families grow, finances change, and New York law does not stand still. “Regular reviews help catch practical issues such as a beneficiary who is no longer the right choice, a successor trustee who has moved out of state, or new assets that were never properly funded into the trust,” Davies explains.
Syracuse estate planning attorney Frederick P. Davies notes that marriage and divorce are among the most significant triggers for a trust review. Under EPTL Section 5-1.1-A, a surviving spouse has the right to elect against the estate and receive the greater of $50,000 or one-third of the net estate, including certain assets held in revocable trusts treated as testamentary substitutes. Following a divorce, New York law generally revokes dispositions in favor of a former spouse, but relying on that statute alone can create complications. The birth or adoption of a child or grandchild is another common trigger, since children born after the trust was created may not be included as beneficiaries, and families may want to add provisions for how assets are managed until the child reaches a certain age. If a beneficiary develops a disability after the trust was created, adding a supplemental needs trust provision to the comprehensive estate plan can help preserve eligibility for public benefits.
William P. Davies, a partner at the firm, adds that tax law changes can significantly affect estate plans even when family circumstances have not changed. “As of 2026, the New York estate tax basic exclusion amount is $7.35 million per person, and the estate tax cliff means that exceeding that threshold by more than five percent can result in tax on the entire estate rather than only the excess,” he notes. Unlike the federal estate tax, the New York exclusion is not portable between spouses, meaning married couples cannot simply combine their exclusions without proper planning. The federal basic exclusion amount is $15 million for estates of decedents who die in 2026, and formula clauses tied to tax exemptions in older trust documents may need to be updated to reflect current thresholds.
Attorney Davies emphasizes that any amendment to a revocable trust must comply with EPTL Section 7-1.17(b), which requires the amendment to be in writing, executed by the authorized person, and acknowledged before a notary public or signed in the presence of two witnesses using the same formalities required for recording a conveyance of real property. When multiple amendments have accumulated over the years, a full trust restatement that replaces the entire document with a new version is often preferable because it creates a single, clean document. “Informal changes such as crossing out provisions or writing notes in the margins do not create a valid amendment under New York law,” Davies adds. If the individual is not the sole trustee, written notice of the amendment must be delivered to at least one other trustee within a reasonable time.
Asset changes also require attention during trust maintenance. If individuals sell property held in the trust, the proceeds should be deposited into a trust account, and newly purchased property should be titled in the trust’s name. In Onondaga County, real property transfers involving a trust are recorded with the County Clerk’s Office. Retirement accounts, life insurance policies, and accounts with payable-on-death designations pass by beneficiary designation rather than through the trust, and mismatches between those designations and the trust terms are among the most common estate planning errors.
“Families should also review their Power of Attorney and Health Care Proxy alongside the trust,” observes Attorney Davies. Under New York General Obligations Law Section 5-1501B, a Power of Attorney must meet specific signing, witnessing, and acknowledgment requirements, and a properly drafted document can give an agent authority to transfer assets into the trust if the principal becomes incapacitated. A Health Care Proxy governed by New York Public Health Law Section 2981 allows appointment of an agent to make medical decisions, and the designated agent should still be someone who is available and willing to act.
For families in Syracuse and Central New York whose living trust estate plans may need updating, consulting with an experienced estate planning attorney can help ensure the plan reflects current wishes, assets, and applicable law.
About Davies Law Firm:
Davies Law Firm is a Syracuse-based law firm dedicated to estate planning, living trusts, and estate administration in Central New York. Led by attorneys Frederick P. Davies and William P. Davies, the firm has helped families throughout Onondaga County, Madison County, Oswego County, and Central New York since 1993. For consultations, call (315) 472-6511.
Email: mail@davieslawfirm.com
Media Contact
Name
Davies Law Firm
Contact name
Frederick P. Davies
Contact phone
(315) 472-6511
Contact address
210 E Fayette St
City
Syracuse
State
NY
Zip
13202
Country
United States
Url
https://davieslawfirm.com/
