What Is the New York Estate Tax Cliff (and How to Avoid It)?
The New York estate tax cliff is a feature of state law that causes an estate slightly over the exemption threshold to lose its entire exemption — meaning the estate is taxed from the very first dollar rather than only on the amount above the exclusion. For deaths occurring on or after January 1, 2026, […]
Medicaid Planning and Your New York Estate (5-Year Look-Back)
Medicaid planning protects your New York estate by legally repositioning assets — most often into an irrevocable trust — far enough in advance that they no longer count against you when you apply for long-term-care Medicaid. The catch is the 5-year look-back: New York reviews the 60 months of financial transactions before your application, and […]
Including Digital Assets in Your New York Estate Plan
To include digital assets in your New York estate plan, you must coordinate four core documents — a will, a revocable or irrevocable trust, a durable power of attorney, and a health care proxy — and grant each fiduciary explicit authority over your online accounts, cryptocurrency, domain names, and other digital property. New York law […]
How Often Should You Update Your Estate Plan in New York?
The smart answer: review your New York estate plan at least every three to five years, and immediately after any major life or financial change. An estate plan is not a “set it and forget it” document — it is a living strategy that must keep pace with your family, your assets, and New York’s […]
Health Care Proxy vs. Power of Attorney in New York
A Health Care Proxy and a Power of Attorney are two different documents that answer two different questions. In New York, a Health Care Proxy (governed by Public Health Law Article 29-C) appoints an agent to make your medical decisions if you cannot speak for yourself. A durable Power of Attorney (governed by General Obligations […]
A New York Estate Planning Checklist for 2026
A complete New York estate planning checklist for 2026 comes down to four coordinated documents — a will, one or more trusts, a durable power of attorney, and a health care proxy — assembled with an eye toward New York’s estate tax so your family inherits assets, not problems. The “smart” part is not simply […]