Most New Yorkers delay estate planning until a crisis forces the issue. By then, the margin for a well-coordinated plan — one that avoids probate, neutralizes the New York estate tax cliff, and protects assets from Medicaid spend-down — has closed. At Morgan Legal Group, Russel Morgan, Esq. works with clients across New York State to build plans that are executed correctly from the outset, because a defective instrument discovered after death cannot be corrected.
What a Complete New York Estate Plan Requires
A single document is rarely sufficient. New York law recognizes four coordinated pillars:
| Instrument | Governing Law | Core Purpose |
|---|---|---|
| Last Will & Testament | EPTL §3-2.1 | Directs property; requires two attesting witnesses and testator’s signature at the end |
| Revocable or Irrevocable Trust | EPTL Article 7 | Avoids probate; irrevocable trusts reduce tax exposure and satisfy Medicaid’s 5-year look-back |
| Durable Power of Attorney | GOL §5-1513 (2021 statutory short form) | Financial decisions if you are incapacitated |
| Health Care Proxy | NY Public Health Law Art. 29-C | Medical decisions — legally distinct from the financial POA |
The 2026 New York Estate Tax Cliff
New York’s basic exclusion is $7,350,000 for deaths occurring January 1 – December 31, 2026. Estates exceeding 105% of that threshold ($7,717,500) lose the entire exemption and are taxed from the first dollar at rates up to 16%. Specialists plan around this cliff — reactive plans do not. See our full New York estate tax guide and statewide planning overview.
Serving clients throughout New York State — NYC boroughs, Long Island, Westchester, the Hudson Valley, and Upstate.
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