Most people think estate planning means “having a will.” In reality, a sound New York plan is a coordinated set of documents — each one solving a different problem, and each one drafted so the others reinforce it. A will controls what happens after you die. A power of attorney and a health care proxy govern what happens if you are alive but incapacitated. Trusts can sidestep probate, shield assets, and reduce a tax bill that, under New York’s rules, can swallow an entire exemption in a single dollar.
At Morgan Legal Group, attorney Russel Morgan, Esq. and our team prepare the full range of estate-planning instruments for clients across the entire state — New York City and its five boroughs, Long Island, Westchester, the Hudson Valley, and Upstate New York. This page is a services overview: a map of every document we draft, what each one does, and how we fit them together into one plan that actually works.
The Four Cornerstones of a New York Estate Plan
A comprehensive plan is built from four core documents working in concert. Skip one, and you leave a gap that a court — or the tax authority — will fill for you.
| Document | What It Controls | Governing NY Authority | Takes Effect |
|---|---|---|---|
| Last Will & Testament | Distribution of assets after death; guardians for minor children | EPTL §3-2.1 | At death, after probate |
| Trust (revocable or irrevocable) | Assets transferred into the trust; probate avoidance, tax & Medicaid planning | EPTL Article 7 | When signed and funded |
| Durable Power of Attorney | Financial & legal decisions if you are incapacitated | GOL §5-1513 | On signing (durable by default) |
| Health Care Proxy | Medical decisions if you cannot speak for yourself | Public Health Law Article 29-C | On incapacity |
Below, we break down each service in detail.
Wills: The Foundation Document
A will is the instrument that directs who receives your property, names an executor to carry out your wishes, and — critically for parents — appoints a guardian for minor children. New York’s execution rules are strict and unforgiving of shortcuts.
Under EPTL §3-2.1, a valid New York will requires:
- The testator’s signature at the end of the document;
- Two attesting witnesses who sign within a 30-day window;
- Publication — the testator must declare to the witnesses that the document is their will.
A will drafted online or from a generic template often fails one of these formalities, and the failure surfaces only after death, when it is too late to fix. We prepare wills that satisfy every statutory requirement and supervise the execution so it holds up.
If you die without a valid will, you die “intestate,” and New York’s intestacy statute — EPTL Article 4 — decides who inherits, in shares fixed by the legislature rather than by you. A spouse and children, distant relatives, or ultimately the State may take in an order you never chose. Drafting a will is how you keep that decision in your own hands.
Trusts: Probate Avoidance, Asset Protection, and Tax Planning
Wills pass through probate; trusts generally do not. New York trusts are governed by EPTL Article 7, and we draft several varieties depending on your goals.
Revocable Living Trust
A revocable living trust lets you keep full control of your assets during life while avoiding the probate process at death. Property titled in the trust passes directly to your beneficiaries without a court proceeding, privately and quickly. Important caveat we always make clear to clients: a revocable trust does not save estate tax — it is a probate-avoidance and privacy tool, not a tax shelter.
Irrevocable Trust
An irrevocable trust is the workhorse of advanced planning. By permanently moving assets out of your taxable estate, it can be used for:
- Estate-tax reduction — removing assets from the estate before death;
- Asset protection — shielding property from future creditors;
- Medicaid planning — but note the five-year look-back: transfers into the trust must generally be made at least five years before you apply for Medicaid long-term-care benefits.
Supplemental Needs Trust (SNT)
A supplemental needs trust under EPTL §7-1.12 allows a person with disabilities to benefit from inherited or gifted assets without losing means-tested government benefits such as Medicaid and SSI. The trust supplements, rather than replaces, public assistance.
Power of Attorney: Protecting Your Finances During Incapacity
A durable power of attorney is one of the most important — and most overlooked — documents in any plan. It lets a trusted agent manage your finances, pay bills, handle real estate, and conduct business if you become unable to do so yourself.
New York law on the power of attorney lives in GOL §5-1513, and the document is durable by default — it remains effective through your incapacity, which is precisely when you need it most. The 2021 statutory short form modernized New York’s POA, easing the old rigid wording requirements and adding teeth: third parties such as banks now face penalties for unreasonably refusing a properly executed form.
Without a valid POA in place, your family may have no choice but to petition a court for guardianship — a public, costly, and slow proceeding. A power of attorney is the private alternative that keeps the courts out of your finances.
Health Care Proxy: Who Speaks for Your Medical Care
A health care proxy is the medical counterpart to the financial POA — and they are distinct documents that should never be confused. Governed by Public Health Law Article 29-C, the proxy appoints a health care agent to make medical decisions for you when you are unable to make them yourself, including decisions about treatment, care settings, and end-of-life wishes.
Because the financial power of attorney handles money and the health care proxy handles medical care, a complete plan needs both. We prepare them together so your appointed agents — whether the same person or two different people — have clear, coordinated authority.
New York Estate Tax Planning for 2026
For higher-net-worth New Yorkers, tax planning is where coordinated drafting pays off most. Our NY estate tax guide goes deeper, but here is what every client should know for 2026.
For deaths on or after January 1, 2026, through December 31, 2026, the New York basic exclusion amount is $7,350,000. An estate below that figure owes no New York estate tax.
The danger is New York’s “cliff.” Once a taxable estate exceeds 105% of the exclusion — $7,717,500 — the exemption does not merely phase out; it disappears entirely. An estate over the cliff is taxed from the first dollar, at progressive rates running from 3% to 16%. Crossing the cliff by a small margin can cost hundreds of thousands of dollars, which is exactly why precise planning matters.
Two more rules shape every strategy:
- New York has no gift tax — lifetime gifts are not taxed by the state when made.
- The three-year add-back — gifts made within three years of death are pulled back into the taxable estate, so deathbed gifting to dodge the cliff generally will not work.
For estates near or above the threshold, irrevocable trusts and a disciplined, well-timed gifting program — coordinated with your will — are the tools that keep an estate on the right side of the cliff.
How We Coordinate Everything
The breadth of documents is the point. A will that contradicts a trust, a POA that names a different agent than your beneficiaries expect, or a tax plan that ignores the three-year add-back — these are the failures that surface at the worst possible moment. Morgan Legal Group’s approach is to draft your will, trusts, power of attorney, and health care proxy as a single, internally consistent plan, reviewed against New York’s statutes and the 2026 tax figures.
We serve clients statewide — wherever you live in New York, our statewide guide explains how we work with families across the metro area, Long Island, Westchester, the Hudson Valley, and Upstate.
Ready to map out your plan? Schedule a consultation with Russel Morgan, Esq.
Frequently Asked Questions
Do I really need all four documents, or is a will enough?
A will only takes effect after death and does nothing if you become incapacitated while alive. For lifetime protection you also need a durable power of attorney (GOL §5-1513) and a health care proxy (Public Health Law Article 29-C). A trust may be added when probate avoidance, asset protection, or tax planning is a goal. Most complete plans use all four together.
What is the difference between a will and a living trust in New York?
A will passes through probate, a court-supervised process, and takes effect only at death. A revocable living trust under EPTL Article 7 avoids probate entirely, passing assets to beneficiaries privately and without court delay. Note that a revocable trust avoids probate but does not reduce estate tax — irrevocable trusts are used for tax savings.
How much can I leave to my heirs before New York estate tax applies in 2026?
For 2026 deaths, the basic exclusion is $7,350,000. But beware the “cliff”: once an estate exceeds 105% of that amount — $7,717,500 — the entire exemption is lost and the estate is taxed from the first dollar at rates of 3% to 16%. Planning to stay below the cliff is essential for estates near the threshold.
Can I give away money to avoid the estate tax?
New York has no gift tax, so lifetime gifts are not taxed by the state when made. However, any gift made within three years of death is added back into the taxable estate. This three-year add-back rule means last-minute gifting generally will not move an estate under the cliff; effective gifting must be planned years in advance.
What happens if I die in New York without a will?
You die “intestate,” and EPTL Article 4 dictates who inherits and in what shares — your spouse, children, or more distant relatives, in an order set by statute rather than by you. You also lose the chance to name a guardian for minor children. A valid will under EPTL §3-2.1 keeps those decisions yours.
Further reading from Morgan Legal Group: estate planning in New York.