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, the basic exclusion amount is
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 uncompensated transfers made inside that
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 does not treat “digital assets”
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 shifting tax thresholds. A plan
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 Law §5-1513) appoints an agent
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 having these documents; it is