At Morgan Legal Group, attorney Russel Morgan, Esq. works with families across New York State — from New York City and Long Island to Westchester, the Hudson Valley, and Upstate — crafting plans that go beyond the standard checklist.
What a Complete NY Estate Plan Includes
A coordinated strategy addresses all four pillars simultaneously:
| Document | Governing Law | Key Purpose |
|---|---|---|
| Will | EPTL §3-2.1 | Directs assets; requires two witnesses & testator’s end-signature |
| Revocable / Irrevocable Trust | EPTL Article 7 | Avoids probate; irrevocable trust protects assets & Medicaid (5-year look-back) |
| Durable Power of Attorney | GOL §5-1513 | Financial authority; durable by default under 2021 statutory form |
| Health Care Proxy | NY Public Health Law Art. 29-C | Medical decisions — distinct from financial POA |
The 2026 NY Estate Tax Cliff — Plan Around It
New York’s 2026 basic exclusion is $7,350,000. Estates exceeding 105% of the exclusion ($7,717,500) lose the entire exemption and are taxed from dollar one at rates up to 16%. Unlike federal law, New York imposes no gift tax — yet gifts within three years of death are clawed back. Innovative planning often pairs irrevocable trusts with strategic gifting to neutralize this cliff. Learn more on our NY Estate Tax Guide.
See our NY Statewide Guide for region-specific considerations, or explore the full estate planning overview.
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Further reading from Morgan Legal Group: .