No single document is enough. A truly comprehensive New York estate plan means every instrument working together — will, trust(s), durable power of attorney, and health care proxy — coordinated so nothing falls through the cracks statewide, from Manhattan to Buffalo.
What “Total” Means Under New York Law
| Instrument | Governing Law | Core Purpose |
|---|---|---|
| Last Will & Testament | EPTL §3-2.1 | Directs assets; requires two witnesses, testator signs at end |
| Revocable Living Trust | EPTL Article 7 | Avoids probate; no NY estate-tax savings on its own |
| Irrevocable Trust | EPTL Article 7 | Tax reduction, asset protection, Medicaid 5-year look-back |
| Durable Power of Attorney | GOL §5-1513 (2021 form) | Financial decisions; durable by default |
| Health Care Proxy | NY Public Health Law Art. 29-C | Medical decisions; separate from financial POA |
The 2026 New York 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%. New York imposes no gift tax — but gifts made within 3 years of death are added back to the taxable estate. See our full NY estate tax guide and statewide planning overview.
We Serve All of New York
Morgan Legal Group handles estate planning across New York City, Long Island, Westchester, the Hudson Valley, and Upstate New York — every county, one coordinated team.
Attorney Russel Morgan, Esq. personally oversees each plan to ensure no document conflicts with another and every statutory requirement under the EPTL and GOL is met.
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Further reading from Morgan Legal Group: how trusts fit an estate plan.