Morgan Legal Group was founded by Russel Morgan, Esq., to give New Yorkers — from Manhattan to Montauk, the Hudson Valley to Buffalo — plain-English guidance on one of life’s most important decisions: what happens to the people and assets you care about when you can no longer speak for yourself.
Estate planning is not a single document. It is a coordinated system of legal tools that work together. A will alone leaves critical gaps. A trust without a financial power of attorney can leave a family stuck during incapacity. Our job is to build the complete picture for you.
The Four Pillars of a New York Estate Plan
Every sound NY estate plan addresses four interlocking areas. Here is what each one does — and the law behind it.
| Document | Core Purpose | NY Legal Basis |
|---|---|---|
| Will | Directs who inherits your assets and names a guardian for minor children | EPTL §3-2.1 (two witnesses, testator signs at end) |
| Trust | Controls asset distribution, avoids probate, or protects against taxes/Medicaid look-back | EPTL Article 7 |
| Durable Power of Attorney | Authorizes someone to manage your finances if you become incapacitated | GOL §5-1513 (2021 statutory short form) |
| Health Care Proxy | Appoints an agent for medical decisions — entirely separate from the financial POA | NY Public Health Law Article 29-C |
Dying without a will in New York is called intestacy, and the state distributes your estate according to EPTL Article 4 — a formula that may not match your wishes at all.
Why Trusts Are Not Just for the Wealthy
Many people assume trusts are for millionaires. In New York, a revocable living trust serves a practical purpose at any asset level: it lets your estate skip probate entirely, saving your family months of court process and public disclosure. It does not, however, reduce New York estate taxes.
For tax reduction, asset protection, or Medicaid planning (which involves a strict 5-year look-back rule), an irrevocable trust under EPTL Article 7 is the right tool. Families with a member who has a disability often use a Special Needs Trust (EPTL §7-1.12) to preserve government benefit eligibility while still providing financial support.
The 2026 New York Estate Tax: Know the Cliff
New York’s estate tax has a feature that surprises many families: the exclusion cliff.
- The basic exclusion for deaths in 2026 is $7,350,000
- If an estate exceeds 105% of the exclusion — $7,717,500 — it loses the entire exemption and is taxed from dollar one at rates from 3% to 16%
- New York has no gift tax, but gifts made within 3 years of death are added back to the taxable estate
See our NY estate tax guide for planning strategies around the cliff, and the official rate schedule at tax.ny.gov.
Serving All of New York State
We work with families and individuals throughout New York — NYC boroughs, Long Island, Westchester, the Hudson Valley, and Upstate communities. Our statewide guide explains how local probate courts and surrogate’s courts vary across the state, and why working with an attorney who knows NY law — not just one county — matters.
Ready to build a plan that actually protects your family? Schedule a consultation with Russel Morgan, Esq. — the first step is a straightforward conversation.
Further reading from Morgan Legal Group: estate planning in New York.