New to estate planning? You are not alone — and you do not need to be a lawyer to understand the basics. This FAQ is written in plain English to walk you through the fundamentals of planning your estate anywhere in New York State, whether you live in New York City, on Long Island, in Westchester, the Hudson Valley, or Upstate.
We define each term simply, point you to the exact New York statutes that govern these tools, and show how the four core documents work together. When you are ready to put a plan in place, attorney Russel Morgan, Esq. and the team at Morgan Legal Group can help. Schedule a 30-minute consultation.
The big idea: A complete New York estate plan is not one document. It is four documents — a will, one or more trusts, a durable power of attorney, and a health care proxy — built to work together. Start with our Estate Planning Overview to see the full picture.
The Four Core Documents at a Glance
| Document | What it does | NY law | Beginner takeaway |
|---|---|---|---|
| Will | Says who inherits and names a guardian for minor children | EPTL §3-2.1 | The foundation — but it goes through probate |
| Trust | Holds and passes assets, can avoid probate or protect assets | EPTL Article 7 | Flexible; choose revocable vs. irrevocable |
| Power of Attorney | Lets someone manage your finances if you cannot | GOL §5-1513 | Durable by default in NY |
| Health Care Proxy | Lets someone make your medical decisions | Public Health Law Art. 29-C | Separate from the financial POA |
Frequently Asked Questions
1. What is estate planning, in plain terms?
Estate planning is simply deciding — in advance and in writing — who gets your property when you die, and who makes decisions for you if you become unable to. It is not just for the wealthy. If you own a home, have savings, or have children, you have an estate. The goal is to keep control in your hands, spare your loved ones confusion and court delays, and reduce taxes where possible. Learn the basics on our Estate Planning Overview.
2. What happens if I die without a will in New York?
Dying without a valid will is called dying “intestate.” When that happens, New York’s intestacy rules — found in EPTL Article 4 — decide who inherits, not you. The law follows a fixed family hierarchy (spouse, children, parents, and so on), which may not match your wishes. A will lets you choose your beneficiaries, name an executor, and (importantly for parents) nominate a guardian for minor children. See our Wills page to start.
3. What makes a New York will valid?
Under EPTL §3-2.1, a New York will generally must be:
- In writing and signed by you (the “testator”) at the end of the document;
- Signed in the presence of two attesting witnesses; and
- Published — meaning you declare to the witnesses that the document is your will.
Small mistakes here can invalidate the whole will, which is why most people work with an attorney. More detail is on our Wills page.
4. What is a trust, and do I need one?
A trust (governed by EPTL Article 7) is a legal arrangement where a trustee holds assets for your beneficiaries under rules you set. There are two main flavors:
- A revocable living trust can be changed anytime and avoids probate, but it offers no estate-tax savings and no asset protection.
- An irrevocable trust cannot be freely changed, but it is the tool used for tax reduction, asset protection, and Medicaid planning.
Not everyone needs a trust, but many New Yorkers benefit from one. Compare your options on our Trusts page.
5. What is the difference between a revocable and an irrevocable trust?
Think of it as flexibility versus protection. A revocable trust keeps you in full control — you can amend or cancel it — and its main benefit is skipping probate. An irrevocable trust requires you to give up some control, but in exchange it can remove assets from your taxable estate and shield them. Irrevocable trusts used for Medicaid carry a 5-year look-back period, meaning transfers made within five years of applying for benefits can cause a penalty. A Supplemental Needs Trust (SNT) under EPTL §7-1.12 can hold assets for a disabled loved one without disqualifying them from government benefits. Our Trusts page explains each type.
6. What is a durable power of attorney, and why does “durable” matter?
A power of attorney (POA) lets someone you trust (your “agent”) manage your financial affairs — paying bills, handling accounts, managing property. Under GOL §5-1513, a New York POA is durable by default, meaning it stays in effect even if you later become incapacitated. New York uses a 2021 statutory short form that must be followed carefully. Without a POA, your family may have to go to court to manage your finances. Learn more on our Power of Attorney page.
7. How is a health care proxy different from a power of attorney?
This is one of the most common beginner mix-ups. They cover different decisions:
- A financial POA (GOL §5-1513) handles your money and property.
- A health care proxy, authorized by New York Public Health Law Article 29-C, appoints an agent to make your medical decisions if you cannot speak for yourself.
You need both — one does not cover the other. See our Health Care Proxy page.
8. How does the New York estate tax work in 2026?
New York has its own estate tax, separate from the federal one. For 2026, here are the key numbers:
| 2026 NY Estate Tax Fact | Figure |
|---|---|
| Basic exclusion amount (deaths 1/1/2026–12/31/2026) | $7,350,000 |
| The “cliff” threshold (105% of the exclusion) | $7,717,500 |
| Tax rate range | 3% to 16% (progressive) |
| New York gift tax | None |
The most important — and most surprising — rule is the “cliff.” If your taxable estate exceeds $7,717,500, you lose the entire exemption and are taxed from the very first dollar, not just the amount above the threshold. This makes planning critical for estates near the line. Our NY Estate Tax Guide walks through it.
9. New York has no gift tax — so can I just give everything away before I die?
Not entirely. While New York imposes no gift tax, there is a catch: any gifts made within 3 years of death are added back into your taxable estate for New York estate-tax purposes. So a deathbed gifting strategy will not dodge the tax. Thoughtful, earlier lifetime gifting — often combined with irrevocable trusts — is the smarter approach. Our NY Estate Tax Guide covers strategy.
10. I’m a beginner — where should I start, and does location in New York matter?
Start by getting all four core documents drafted together so they coordinate, rather than collecting documents piecemeal over the years. These same New York laws apply statewide — whether you are in Manhattan, Brooklyn, Nassau or Suffolk County, Westchester, the Hudson Valley, or Upstate — so wherever you live in New York, the fundamentals in this FAQ apply to you. For a region-by-region orientation, see our NY Statewide Guide. When you are ready, book a 30-minute consultation with Russel Morgan, Esq..
Ready to Build Your Plan?
Estate planning does not have to be intimidating. With the right guidance, you can protect your family, your assets, and your wishes — all in one coordinated plan. Morgan Legal Group serves clients across all of New York State.
Schedule your 30-minute consultation →
This page is general educational information, not legal advice. For guidance on your specific situation, consult a qualified New York estate planning attorney. Statutory figures reflect New York law for 2026.
Authoritative sources: New York State Senate (EPTL & GOL statutes) · NY Department of Taxation and Finance (estate tax) · NY Department of Health (health care proxy)
Further reading from Morgan Legal Group: estate planning in New York.