Estate Planning Lawyers Serving NYC & Long Island Families

A basic New York estate plan usually includes a will, a durable power of attorney for financial matters, a health care proxy, and a written statement of your end-of-life wishes, often called a living will. Depending on your family and assets, it may also include one or more trusts and updated beneficiary designations on retirement accounts and life insurance. Each document does a different job, so a plan that covers only what happens after death can leave gaps if you become ill or incapacitated during your lifetime.

Yes. Estate planning is not only about wealth. A plan lets you name who will care for your minor children, who will handle your finances and medical decisions if you cannot, and who will receive your property, however modest. Without these documents, New York law decides who inherits, and your family may need to go to court to obtain authority to act for you. Simple, inexpensive documents can spare loved ones delay, cost, and uncertainty.

Yes. New York imposes its own estate tax, separate from the federal estate tax. The state exemption amount is adjusted each year, so the figure that applies depends on the year of death. New York's tax also has a so-called cliff: if a taxable estate exceeds the exemption by more than a set margin, the exemption can be lost entirely, and the whole estate may be taxed. Estates near the threshold often benefit from planning well in advance.

Parents generally nominate a guardian for minor children in their wills. The Surrogate's Court gives that choice significant weight, although the court must still approve the appointment based on the child's best interests. You can also name a backup guardian in case your first choice is unable to serve. If you die without naming anyone, the court decides who will raise your children, which can lead to disagreements among relatives.

Wills, estates, and many trust matters are handled by the Surrogate's Court in the county where the person who died lived. Each county has its own Surrogate's Court, including the courts in Manhattan, Brooklyn, Queens, Staten Island, the Bronx, Nassau County, and Suffolk County. Probate, estate administration, guardianship of minors' property, and will contests are all heard there. Filing requirements and timelines can vary somewhat from one county's court to another.