In NY, yes, a beneficiary can be a trustee of a revocable trust. It is not necessarily the best idea, but it is valid. As long as this is an arrangement that you want and that your wife is willing to take on, then yes, it can be done. You can have a wills, trusts and estate attorney help you set up the trust, with your wife as the trustee. If you want to name a successor trustee as well, you can do that too. It's a good idea to have an attorney set this up for you so you know that the trust itself will work the way you want it to.
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