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If you have never made an estate plan before, you are in the right place. This page is the “101” — the beginner’s version. No jargon you have to decode, no assumptions that you already know what “intestacy” or “the look-back period” means. By the end, you will understand the four documents every New Yorker needs, how they fit together, and where the 2026 New York estate tax rules can quietly trip up a family that thought they were fine.
Morgan Legal Group, led by attorney Russel Morgan, Esq., builds these plans for clients across the entire state — from Manhattan and Brooklyn to Long Island, Westchester, the Hudson Valley, and Upstate. Wherever in New York you live, the same core law applies.
What “estate planning” actually means
An “estate” is simply everything you own: your home, bank accounts, retirement savings, life insurance, your car, your belongings. Estate planning is the process of writing down, in legally valid documents, who gets what and who makes decisions for you — both after you die and while you are still alive but unable to speak for yourself.
That second part surprises most beginners. Estate planning is not only about death. A big chunk of it is about incapacity — what happens if you are in the hospital and cannot sign documents or tell a doctor your wishes. A good plan covers both situations.
A complete New York estate plan is built from four coordinated documents. Skip one, and you leave a gap.
| Document | What it does | When it works | Key NY law |
|---|---|---|---|
| Last Will & Testament | Says who inherits your property; names a guardian for minor children | After death (through probate) | EPTL §3-2.1 |
| Trust | Holds assets for your beneficiaries; can avoid probate or protect assets | During life and after death | EPTL Article 7 |
| Durable Power of Attorney | Lets someone handle your finances if you cannot | While you are alive | GOL §5-1513 |
| Health Care Proxy | Lets someone make your medical decisions if you cannot | While you are alive | Public Health Law Art. 29-C |
Learn how the four work as a system on our Estate Planning Overview.
Document 1: The Will — your baseline instructions
A will names the people (or charities) who inherit your property and names the executor who carries out your wishes. For a will to be valid in New York under EPTL §3-2.1, the basics are strict:
- You sign at the end of the document.
- Two witnesses watch you sign (or hear you acknowledge your signature).
- You tell the witnesses this is your will — that step is called publication.
Get the formalities wrong and a court may refuse to honor the will. That is why “do it yourself” wills so often fail.
What if you have no will? Then you die intestate, and New York’s intestacy rules under EPTL Article 4 decide who inherits — not you. The state’s default formula may split your estate between a spouse and children in ways you never intended, and an unmarried partner or a beloved friend receives nothing. A will replaces the state’s guesswork with your own choices. Read more on our Wills page.
Document 2: Trusts — the flexible tool
A trust is a legal arrangement where a trustee holds assets for your beneficiaries under rules you set. Trusts live under EPTL Article 7, and the two beginners hear about most are very different animals:
- A revocable living trust can be changed or cancelled anytime while you are alive. Its main benefit is avoiding probate — the public, court-supervised process of validating a will — so your family can settle things privately and faster. Important 101 caveat: a revocable trust does not save estate tax.
- An irrevocable trust generally cannot be changed once made. You give up that control in exchange for real advantages: tax reduction, asset protection, and Medicaid planning. For Medicaid, New York applies a 5-year look-back, so this kind of planning works only when done well ahead of time.
A special type — the Supplemental (Special) Needs Trust under EPTL 7-1.12 — lets a person with disabilities receive an inheritance without losing means-tested government benefits. Our Trusts page explains which trust fits which goal.
Document 3: Durable Power of Attorney — finances if you can’t
A Power of Attorney (POA) lets you appoint an agent to handle your financial matters — paying bills, managing accounts, dealing with property. Under GOL §5-1513, a New York POA is durable by default, meaning it stays in effect even if you become incapacitated (which is exactly when you need it). New York overhauled the form with its 2021 statutory short form, so older documents are worth reviewing. Details on our Power of Attorney page.
Document 4: Health Care Proxy — medical decisions if you can’t
A Health Care Proxy, authorized by New York Public Health Law Article 29-C, names an agent to make medical decisions for you when you cannot make them yourself. Note the clean division: the POA covers money; the proxy covers your body and care. They are separate documents naming (possibly) separate people. See our Healthcare Proxy page.
The 2026 New York estate tax — the “cliff” every beginner should know
Here is the rule that catches families off guard. For deaths in 2026, New York gives a basic exclusion amount of $7,350,000 (for deaths on or after January 1, 2026 through December 31, 2026). Estates below that owe no New York estate tax.
But New York has a feature most states don’t: a cliff. Once an estate exceeds 105% of the exclusion — $7,717,500 — the exemption disappears entirely, and the estate is taxed from the very first dollar, not just the amount over the line. The tax is progressive, running roughly 3% to 16%.
Two more 101-level facts:
– New York has no gift tax — but gifts made within 3 years of death are added back into the taxable estate.
– This is a New York tax, separate from the federal estate tax.
| 2026 NY Estate Tax — quick facts | Figure |
|---|---|
| Basic exclusion amount | $7,350,000 |
| Cliff (105% of exclusion) | $7,717,500 |
| Over the cliff? | Entire exemption lost — taxed from dollar one |
| Tax rate range | ~3%–16% |
| NY gift tax | None (but 3-year add-back applies) |
If your estate is anywhere near these numbers, planning is not optional. Our NY Estate Tax Guide walks through it in depth.
How the pieces fit together
The mistake beginners make is treating these as four separate errands. They are one system. Your will and trust should not contradict each other. Your POA agent and health care agent should be people who will cooperate. Assets you want to keep out of probate must actually be retitled into your trust — a trust nobody funded does nothing. Coordinating all of it is the real work, and it is what an attorney is for.
Frequently asked questions
Do I need a trust, or is a will enough?
Many New Yorkers do fine with a will plus the two incapacity documents. A trust is worth considering if you want to avoid probate, own out-of-state property, are planning for Medicaid, or have a beneficiary with special needs.
What happens if I die without any documents?
New York’s intestacy law (EPTL Article 4) distributes your assets by a fixed formula, the court appoints decision-makers, and your specific wishes carry no weight. A simple will avoids all of it.
Is my estate big enough to owe New York estate tax in 2026?
If your total estate is under $7,350,000, no. If it is near or over $7,717,500, you risk losing the entire exemption to the cliff — that’s the time to plan.
Does a living trust lower my taxes?
No. A revocable living trust avoids probate but provides no estate-tax savings. Tax reduction comes from irrevocable trusts and other strategies.
Where does Morgan Legal Group work?
Throughout New York State — NYC, Long Island, Westchester, the Hudson Valley, and Upstate.
Start your plan today
Estate planning is far less intimidating once you see it as four documents working together. The hardest part is starting. Attorney Russel Morgan, Esq. and Morgan Legal Group will walk you through each step in plain language.
Explore further: Estate Planning Overview · Wills · Trusts · Power of Attorney · Healthcare Proxy · NY Estate Tax Guide · NY Statewide Guide
Authoritative sources: NY Senate – consolidated laws (EPTL, GOL, Public Health Law) · NY Dept. of Taxation & Finance – estate tax · NY Dept. of Health – health care proxy
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