Estate planning can feel like a subject reserved for lawyers and accountants who speak in acronyms. It is not. At The Estate Planning 101, our goal is simple: take the foundational concepts of New York estate law, strip away the jargon, and give you the clarity you need to make real decisions — for yourself and your family.
This site is powered by Morgan Legal Group and attorney Russel Morgan, Esq., serving clients across New York State: New York City, Long Island, Westchester, the Hudson Valley, and Upstate communities.
What “Estate Planning” Actually Means
An estate plan is not just a will tucked in a drawer. Under New York law, a complete plan is a coordinated set of four documents that work together:
| Document | What It Does | Governing Law |
|---|---|---|
| Will | Directs who inherits your assets after death | EPTL §3-2.1 |
| Trust(s) | Holds assets outside your will; can avoid probate or protect against taxes | EPTL Article 7 |
| Durable Power of Attorney | Names someone to handle your finances if you cannot | GOL §5-1513 |
| Health Care Proxy | Names someone to make medical decisions — legally separate from POA | NY Public Health Law Art. 29-C |
Each document covers a different gap. Miss one, and that gap stays open.
The Basics: Wills in New York
A New York will must be signed by you at the end of the document and witnessed by two people who watch you sign — both requirements come directly from EPTL §3-2.1. Skip the formalities and the document can be voided. Die without a valid will at all, and New York’s intestacy rules under EPTL Article 4 decide who gets everything — regardless of your wishes.
Trusts: The Tool Most People Overlook
A revocable living trust (learn more) lets your assets pass to heirs without going through probate court — saving time and keeping your affairs private. Important 101-level distinction: a revocable trust does not reduce estate taxes on its own. For tax reduction, asset protection, or Medicaid planning (which involves a strict five-year look-back period), an irrevocable trust is the instrument — governed by EPTL Article 7. Families with a member who has a disability may also need a Supplemental Needs Trust under EPTL §7-1.12 to preserve government benefit eligibility.
New York’s Estate Tax Cliff — A Beginner Must-Know
New York has its own estate tax, separate from federal law. For deaths in 2026, the state exclusion is $7,350,000. Sounds straightforward — until you hit the cliff.
If your estate exceeds 105% of the exclusion ($7,717,500), New York taxes the entire estate from dollar one, not just the excess. A modest overage can trigger a bill far larger than you would expect. New York also has no gift tax, but gifts made within three years of death are pulled back into the taxable estate. See our full breakdown in the NY Estate Tax Guide and tax.ny.gov.
Why “101” Matters
Every attorney in New York can recite these statutes. Fewer take the time to explain what they mean to a first-time planner in their 30s, a parent updating documents after a second marriage, or a retiree unsure whether a trust is worth the cost. That is the gap we fill. Explore our statewide guide and the full estate planning overview to keep learning — or, when you are ready to build your plan, schedule a free consultation with Russel Morgan, Esq.
Book a Free 30-Minute Consultation →
Further reading from Morgan Legal Group: the New York estate planning guide.