Estate planning mistakes are expensive. A missing witness on your will (EPTL §3-2.1), an unfunded trust, or an estate that trips the New York cliff exemption can cost your family far more than the planning itself. We help New Yorkers across the state avoid those errors before they happen.
What a Complete NY Estate Plan Includes
| Document | Legal Basis | Strategic Purpose |
|---|---|---|
| Will | EPTL §3-2.1 | Directs assets; avoids EPTL Art. 4 intestacy defaults |
| Revocable or Irrevocable Trust | EPTL Article 7 | Bypasses probate; irrevocable trusts reduce tax exposure and satisfy Medicaid’s 5-year look-back |
| Durable Power of Attorney | GOL §5-1513 | 2021 statutory form; durable by default |
| Health Care Proxy | NY Public Health Law Art. 29-C | Appoints a medical agent — separate from financial POA |
The 2026 NY Estate Tax Cliff
New York’s 2026 basic exclusion is $7,350,000. Estates exceeding 105% of that threshold ($7,717,500) lose the entire exemption and are taxed from dollar one at rates up to 16%. Gifts within 3 years of death are added back. A coordinated trust strategy and timely gifting plan can keep your estate well below this cliff. See our full NY Estate Tax Guide.
Schedule Your Consultation
Morgan Legal Group serves clients throughout New York — NYC boroughs, Long Island, Westchester, the Hudson Valley, and Upstate communities. See our statewide service areas.
Book a 30-Minute Strategy Session with Russel Morgan, Esq.
Further reading from Morgan Legal Group: how trusts fit an estate plan.