Most New Yorkers piece together documents over years — a will here, a power of attorney there — and end up with gaps that cost families dearly. At Morgan Legal Group, attorney Russel Morgan, Esq. designs a single, all-in-one plan that coordinates every essential instrument from the start, so nothing falls through the cracks.
What a Total NY Estate Plan Covers
| Document | Governing Law | What It Does |
|---|---|---|
| Will | EPTL §3-2.1 | Directs assets, names guardians; two witnesses required |
| Revocable or Irrevocable Trust | EPTL Article 7 | Avoids probate; irrevocable trusts address tax, asset protection & Medicaid’s 5-year look-back |
| Durable Power of Attorney | GOL §5-1513 | Authorizes financial decisions; durable by default under the 2021 statutory short form |
| Health Care Proxy | NY Public Health Law Art. 29-C | Appoints a medical-decision agent — separate from your financial POA |
Why 2026 Requires a Coordinated Strategy
New York’s estate tax basic exclusion is $7,350,000 for deaths in 2026. Estates exceeding the cliff at $7,717,500 lose the entire exemption and are taxed from dollar one at rates up to 16%. New York also adds back gifts made within three years of death. A total plan — will, trust, and gifting strategy working together — is the only way to navigate that cliff without surprises.
Families across New York State — NYC, Long Island, Westchester, the Hudson Valley, and Upstate — trust Morgan Legal Group to cover every base in one place.
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Further reading from Morgan Legal Group: estate planning in New York.