Estate Planning Essentials for New Yorkers: Start Here

If you have never made an estate plan before, you are in the right place. This site exists for one reason: to cut through the legal fog and show you exactly what a solid New York estate plan looks like, step by step. Morgan Legal Group has guided New Yorkers across the state — from New York City to Long Island, Westchester, the Hudson Valley, and Upstate communities — through this process countless times. What follows is the plain-language foundation every first-timer needs.

The Four Documents Every NY Estate Plan Needs

New York law does not require you to own a mansion or a stock portfolio before you need an estate plan. Any adult who has people they care about or property they want to direct — however modest — benefits from getting these four documents in order.

Document	What It Does	Governing Law
Last Will & Testament	Names who receives your assets; names a guardian for minor children	EPTL §3-2.1
Revocable or Irrevocable Trust	Controls assets outside probate; protects or preserves wealth for specific goals	EPTL Article 7
Durable Power of Attorney	Appoints someone to handle your finances if you cannot	GOL §5-1513
Health Care Proxy	Appoints someone to make medical decisions on your behalf	NY Public Health Law Article 29-C

These four instruments are designed to work together. A will directs what happens at death; a durable POA (durable by default under the 2021 statutory short form) steps in during life if you become incapacitated; a health care proxy addresses medical choices the financial POA cannot touch; and a trust can manage assets for beneficiaries across both life and death. Missing any one piece leaves a gap.

A Note on Wills: NY Has Specific Rules

Under EPTL §3-2.1, a valid New York will requires two attesting witnesses, and the testator must sign at the very end of the document after declaring (“publishing”) it. These are not technicalities — a will that misses them can be rejected by the Surrogate’s Court entirely. Dying without a valid will means New York’s intestacy rules under EPTL Article 4 decide who inherits, often in ways that do not match your wishes.

Trusts Are Not Just for the Wealthy

A revocable living trust lets your estate pass to your family without going through probate — saving time, cost, and privacy. It does not, however, reduce New York estate tax. If tax reduction, asset protection, or Medicaid planning is the goal, an irrevocable trust (EPTL Article 7) is the right tool; Medicaid carries a five-year look-back on transfers. Families with a member who has a disability should also explore a Special Needs Trust under EPTL 7-1.12, which preserves government benefits while still providing supplemental support.

The 2026 NY Estate Tax: Know the Cliff Before You Plan

New York imposes its own estate tax, separate from the federal tax. For deaths on or after January 1, 2026, the basic exclusion is $7,350,000. The critical trap — unique to New York — is the cliff: if an estate exceeds 105% of the exclusion ($7,717,500), it loses the exemption entirely and is taxed from the first dollar at rates from 3% to 16%. New York also has no gift tax, but gifts made within three years of death are added back to the taxable estate. See our full NY Estate Tax Guide and the NY Department of Taxation and Finance for official rates.

Ready to Build Your Plan?

You do not need to have all the answers before your first conversation. Attorney Russel Morgan, Esq., and the Morgan Legal Group team will walk you through the essentials in plain English, tailored to your family and your New York circumstances. View our full statewide services guide or schedule a free 30-minute call to get started today.

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