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By DeCandido & Azachi, PLLC — New York Estate Planning Attorneys
Estate planning. Most people hear the term and instantly picture complicated legal documents or billion‑dollar families battling over inheritances. But the truth is simple: estate planning is about clarity and protecting the people who matter most. Whether you’re in a Manhattan loft, a Queens co‑op, or a Brooklyn brownstone, estate planning gives your family peace of mind.
What is Estate Planning?
Estate planning is the process of deciding what happens to your assets, who handles things if you can’t, and how to protect the people and causes you care most about. Think of it as future‑proofing your life.
Why Estate Planning Matters — Especially In New York
New York has unique laws, a complex probate system, and its own estate tax separate from federal estate tax. A strong estate plan helps you: avoid family conflict; save your loved ones time and expense in Surrogate’s Court; minimize or eliminate New York estate tax; protect minor children, unmarried partners, and aging parents; and ensure your wishes are honored rather than leaving decisions to the state’s intestacy laws.
The Cornestones Of A New York Estate Plan
- 1. Last Will & Testament — Your Will lays out who gets what, who’s in charge, and who raises your minor children.
- 2. Trusts — Trusts help avoid probate, protect inheritances, reduce taxes, and maintain privacy.
- 3. Power of Attorney — Allows someone you trust to manage your finances if you’re unable.
- 4. Health Care Proxy & Living Will — A Health Care Proxy designates someone to make medical decisions on your behalf if you cannot communicate. A Living Will (also called an Advance Directive) specifies your wishes regarding life-sustaining treatment. Together, these documents ensure your medical wishes are honored and relieve your family from making agonizing decisions during a crisis.
- 5. New York Probate Process — With smart planning, you can streamline or even avoid probate entirely.
New York’s Estate Tax
New York’s estate tax cliff can make your entire estate taxable if you exceed the exemption by even a small amount. As of 2026, the New York estate tax exemption is $7,160,000 (indexed annually for inflation). If your estate exceeds 105% of this exemption ($7,518,000 for 2026), the entire estate becomes subject to New York estate tax, not just the amount over the threshold. Proper planning can help minimize or avoid this tax burden.
Who Needs An Estate Plan?
Everyone—parents, homeowners, business owners, pet owners, and anyone who wants clarity.
FAQ
1. Do I need an estate plan if I don’t have many assets?
Yes. Estate planning is about control, not wealth.
2. What happens if I die without a Will in New York?
The state decides who receives your assets. Your wishes are not considered.
3. Can a trust help me avoid probate?
Yes. A properly funded trust can avoid New York probate entirely.
4. How often should I update my plan?
Every 3–5 years or after major life events.
5. Are electronic wills legal?
Not yet. On December 12, 2025, Governor Hochul signed the New York Electronic Wills Act into law, but the Act does not take effect until June 10, 2027. Once effective, it will be codified as EPTL § 3-6.1 et seq. Electronic wills must meet strict requirements including use of tamper-evident technology, proper witnessing procedures (witnesses may sign physically or electronically within 30 days), and mandatory filing with the New York State Unified Court System within 30 days of execution—failure to file renders the electronic will invalid. Due to the complexity and evolving nature of this area, we recommend consulting with an attorney before creating an electronic will.
Let’s Protect Your Legacy Together
At DeCandido & Azachi, PLLC, we help New Yorkers build clear, compassionate estate plans. Click here to Schedule a consultation or call us at 347-808-5746 to get started today!
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