Syracuse Attorneys Explain Business Succession Planning with Revocable Trusts

Davies Law Firm guides Onondaga County owners through structuring trusts for smooth leadership transitions.

Published on Feb. 12, 2026

Got story updates? Submit your updates here. ›

Central New York business owners can use revocable trusts as part of comprehensive succession planning to protect company continuity and avoid probate delays, according to Syracuse revocable trusts attorneys Frederick P. Davies and William P. Davies of Davies Law Firm. The attorneys explain how revocable trusts can streamline business handoffs by keeping ownership interests out of probate proceedings, and emphasize the importance of proper funding and coordination with operating agreements or shareholders' agreements.

Why it matters

For Onondaga County business owners, using revocable trusts in succession planning can help avoid delays at the Onondaga County Surrogate's Court and keep leadership transitions private. This allows for smoother handoffs and prevents conflicts among stakeholders and competitors from accessing sensitive information.

The details

Revocable trusts allow business owners to maintain control during their lifetime while ensuring smooth leadership transitions. Proper funding and coordination with operating agreements or shareholders' agreements are essential. The trust controls only what is actually transferred to it, and business-entity documents may dictate how and to whom ownership interests can pass. Clear documentation now prevents conflicts later. Different business structures require specific transfer procedures, and banking relationships and existing contracts also require attention during trust funding.

  • Davies Law Firm works with clients to prepare comprehensive documentation, and most Syracuse owners can move from initial consultation to active implementation within several weeks.

The players

Frederick P. Davies

Syracuse revocable trusts attorney at Davies Law Firm.

William P. Davies

Syracuse revocable trusts attorney at Davies Law Firm.

Davies Law Firm

A Syracuse-based law firm dedicated to estate planning, elder law, and business succession.

Got photos? Submit your photos here. ›

What they’re saying

“For Syracuse owners of S corporations, grantor status keeps tax reporting simple during life. Your operating agreement should state who becomes the member of record on death or incapacity and who can vote immediately, preventing deadlock and keeping payroll and vendor payments on track.”

— Frederick P. Davies, Syracuse revocable trusts attorney (usatoday.com)

“S corporation stock held in a revocable trust requires careful planning for what happens after death. A QSST or ESBT election usually must be made within two years of the owner's death to maintain the corporation's S status.”

— William P. Davies, Syracuse revocable trusts attorney (usatoday.com)

“A trust is private. If your succession instructions live in the trust, your leadership choices, timing, and distribution terms stay out of public view. This privacy can reduce tension among stakeholders and prevent competitors from accessing sensitive business information.”

— Frederick P. Davies, Syracuse revocable trusts attorney (usatoday.com)

What’s next

The firm works with clients to prepare comprehensive documentation including the revocable living trust, pour-over will, New York statutory short-form power of attorney, business transfer instruments, company resolutions, and tax coordination materials.

The takeaway

Revocable trusts provide a flexible framework for Syracuse business owners to protect both the family's financial security and the company's operational stability, allowing for smooth leadership transitions and avoiding the delays and public nature of probate.