What is estate planning and why do New York State residents need it?

Estate planning is the process of arranging for the management and distribution of your assets during your lifetime and after death. New York State residents face unique considerations including state estate taxes, high property values, and complex family structures that require tailored legal strategies. Whether you live in NYC, Long Island, Westchester, Hudson Valley, Albany, Buffalo, or anywhere in NY, proper estate planning is essential.

What is the New York estate tax exemption for 2026?

The New York State estate tax exemption for 2026 is $7,350,000 per individual. If your estate exceeds 105% of the exemption (approximately $7,717,500), your entire estate becomes taxable from the first dollar, not just the excess.

What is the difference between a will and a trust in New York?

A will directs how your assets are distributed after death and must go through Surrogate's Court probate. A trust allows you to transfer assets to a trustee who manages them for your beneficiaries, often avoiding probate entirely and providing greater privacy.

How does Medicaid planning work in New York?

Medicaid planning involves structuring your assets to qualify for Medicaid long-term care benefits while preserving wealth for your family. Strategies include Medicaid Asset Protection Trusts, spousal refusal, and pooled income trusts. Nursing home Medicaid has a 60-month look-back period.

What happens if I die without a will in New York?

Dying without a will in New York means your property is distributed according to the state's intestacy laws regardless of your wishes. Your surviving spouse receives the first $50,000 plus half the remaining estate, with children receiving the balance. You also cannot name a guardian for minor children without a will.

How can I avoid probate in New York?

Strategies include establishing a revocable living trust, using payable-on-death or transfer-on-death designations, holding property as joint tenants with rights of survivorship, and designating beneficiaries on life insurance and retirement accounts. New York also now allows Transfer-on-Death deeds for residential property.

Free Legal Resources

New York Estate Planning Guides

In-depth guides covering every aspect of estate planning in New York State. From creating a valid will to navigating Medicaid eligibility, our resources help you understand your options and make informed decisions.

What is Estate Planning?

Estate planning is the process of arranging for the management and distribution of your assets during your lifetime and after death. For New York residents, a comprehensive estate plan typically includes a will, one or more trusts, a power of attorney, and a health care proxy. Proper planning protects your family, minimizes taxes, and ensures your wishes are followed.

Browse Our Guides

Select a topic below to access our detailed guides, written specifically for New York State law and updated for 2026.

Estate Planning Basics

Complete Guide to Wills in New York

Everything you need to know about creating, executing, and updating a valid last will and testament under New York State law.

12 min read

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Estate Planning Basics

Understanding Trusts in New York State

A comprehensive guide to revocable and irrevocable trusts in New York, including how to use trusts to avoid probate and protect assets.

15 min read

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Elder Law

Medicaid Planning in New York

Essential strategies for protecting your assets while qualifying for Medicaid long-term care coverage in New York State.

14 min read

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Estate Administration

The Probate Process in New York

A step-by-step guide to navigating New York's Surrogate's Court probate process, from filing the petition to distributing assets.

13 min read

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Estate Planning Basics

Power of Attorney in New York

Essential guide to New York's power of attorney requirements, including the statutory short form and how to protect yourself.

10 min read

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Tax Planning

New York Estate Tax Guide for 2026

Everything you need to know about New York's estate tax system, including the 2026 exemption, the cliff effect, and planning strategies.

11 min read

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Need Personalized Guidance?

While these guides provide valuable information, every family's situation is unique. Schedule a consultation to discuss your specific estate planning needs with an experienced New York attorney.

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