Irrevocable Trust Attorneys in New York & New Jersey

Strategic Asset Protection and Long-Term Planning Solutions

An irrevocable trust is one of the most powerful estate planning tools available for protecting assets, minimizing taxes, and planning for long-term care. Unlike revocable trusts, irrevocable trusts generally cannot be modified or revoked once created, making careful legal guidance essential from the outset.

For individuals and families in New York and New Jersey, irrevocable trusts are commonly used for Medicaid planning, tax reduction, asset protection, and legacy planning. The Law Offices of Vlad Portnoy P.C. help clients determine whether an irrevocable trust is appropriate and design structures that align with both legal requirements and personal goals. Call 516-518-8586 to schedule a consultation.

What Is an Irrevocable Trust?

An irrevocable trust is a legal arrangement in which assets are transferred out of an individual’s personal ownership and placed under the control of a trustee for the benefit of designated beneficiaries. Once the trust is established and funded, the grantor typically relinquishes direct control over the assets.

Because the assets are no longer owned by the grantor, they may be protected from creditors, excluded from the taxable estate, and, in certain cases, not counted toward Medicaid eligibility—when properly structured under state and federal law.

Why Use an Irrevocable Trust in NY or NJ?

Irrevocable trusts are commonly used to accomplish specific planning goals, including:

• Protecting assets from long-term care and nursing home costs

• Reducing estate and gift tax exposure

• Preserving wealth for children and future generations

• Shielding assets from creditors and legal claims

• Providing structured distributions for beneficiaries

New York and New Jersey have different Medicaid and estate-related rules, making state-specific planning critical. Our attorneys tailor irrevocable trusts to comply with the applicable laws while maximizing their effectiveness.

Irrevocable Trusts and Medicaid Planning

One of the most common uses of irrevocable trusts in New York and New Jersey is Medicaid planning. Assets transferred into a properly drafted irrevocable trust may not be considered countable resources after the applicable Medicaid look-back period.

However, Medicaid rules are strict, and mistakes can result in disqualification or penalties. Our firm ensures that irrevocable trusts are structured correctly to protect assets while preserving eligibility for future benefits.

Can an Irrevocable Trust Be Changed?

While irrevocable trusts are designed to be permanent, certain limited changes may be possible depending on the trust’s language and applicable state law. This may include trustee changes, decanting, or court-approved modifications in specific circumstances.

Because changes are limited, it is essential to work with an experienced attorney when creating an irrevocable trust to avoid unintended consequences.

How Our Irrevocable Trust Attorneys Help

The Law Offices of Vlad Portnoy P.C. assist clients with:

• Evaluating whether an irrevocable trust is appropriate

• Drafting customized irrevocable trust documents

• Coordinating Medicaid, tax, and estate planning strategies

• Selecting trustees and defining beneficiary rights

• Funding the trust and aligning assets properly

We take a comprehensive approach to ensure your trust integrates seamlessly with your broader estate plan.

Why Hire an Irrevocable Trust Attorney?

Irrevocable trusts involve permanent decisions with long-term legal and financial consequences. Errors in drafting or funding can undermine the trust’s purpose and expose assets to risk.

Our experienced attorneys guide clients through the process with clarity and precision, ensuring compliance with New York and New Jersey law while protecting your interests and your family’s future.

📞 516-518-8586 — Contact the Law Offices of Vlad Portnoy P.C. today to discuss whether an irrevocable trust is right for you.