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FamilyAttorney
FamilyAttorney, Lawyer
Category: Estate Law
Satisfied Customers: 1294
Experience:  Owner, attorney in private practice, appellate attorney, GAL & former trial lawyer, licensed for 37 years
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IS IT LEGAL IN NEW YORK STATE TO APPONT MY WIFE, WHO IS ALSO

Customer Question

IS IT LEGAL IN NEW YORK STATE TO APPONT MY WIFE, WHO IS ALSO A BENEFICIARY, AS TRUSTEE OF MY REVOCABLE TRUST?
Submitted: 8 months ago.
Category: Estate Law
Expert:  FamilyAttorney replied 8 months ago.

Hello and thanks for using Just Answer. I’m a licensed attorney with 36 years’ experience in family law, appeals, landlord-tenant, etc. I look forward to helping you today.

Please note:This is general information and not legal advice. No specific course of action is proposed, and no attorney-client relationship is formed.

Also – I will be typing my answer for you so I’ll be back in a few minutes.

Expert:  FamilyAttorney replied 8 months ago.

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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