What Documents Belong in a Complete New York Estate Plan?
A complete New York estate plan rests on four coordinated documents: a last will and testament, one or more trusts, a durable power of attorney, and a health care proxy. Together they decide who inherits your property, who manages your money if you cannot, and who makes your medical decisions when you are unable to […]
New York Estate Tax 2026: The $7.35M Exemption and the Cliff
For deaths occurring on or after January 1, 2026 through December 31, 2026, New York exempts the first $7,350,000 of an estate from the New York State estate tax. But there is a trap most people have never heard of: the “cliff.” If your taxable estate exceeds 105% of the exemption — $7,717,500 — you […]
How to Avoid Probate in New York
You can avoid probate in New York by arranging for your assets to pass to your loved ones automatically — outside of the court process — using tools like a revocable living trust, beneficiary designations, and certain forms of joint ownership. Probate is the court-supervised process of validating your will and transferring your property after […]
Estate Planning for Young Families in New York
If you are a young family in New York, estate planning means putting four coordinated legal documents in place — a will, one or more trusts, a durable power of attorney, and a health care proxy — so that if something happens to you, the people you choose (not a court) decide who raises your […]
Estate Planning for Blended Families in New York
If you have a blended family in New York — a second marriage, stepchildren, or children from more than one relationship — estate planning is the tool that lets you provide for your current spouse and protect the inheritance you want your own children to receive. Without a coordinated plan, New York law decides for […]
Do I Need a Trust or Just a Will in New York?
For most New Yorkers, the honest answer is: you almost certainly need a will, and many people benefit from adding a trust — but a trust is rarely a substitute for a will. The two tools do different jobs. A will directs who receives your property and names a guardian for minor children, but it […]