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The New York estate tax “cliff” is a quirk in New York State law that can cause an estate to lose its entire estate-tax exemption — not just the amount over the limit — once the estate’s value climbs past a narrow threshold. For deaths occurring on or after January 1, 2026 through December 31, 2026, the basic exclusion amount

Medicaid planning protects your New York estate by legally repositioning assets — typically into an irrevocable trust governed by EPTL Article 7 — far enough in advance that they no longer count against you when you apply for Medicaid long-term care. The catch is the five-year look-back: New York reviews the prior 60 months of asset transfers, and uncompensated gifts

As a general rule, New York residents should formally review their estate plan every three to five years — and immediately after any major life event or change in the law. An estate plan is not a “sign it and forget it” document; it is a living set of instructions that must keep pace with your family, your finances, and

If you are a New York State resident asking whether a Health Care Proxy and a Power of Attorney are the same thing, the short answer is no — they are two separate documents that cover two entirely different areas of your life. A Health Care Proxy (governed by New York Public Health Law Article 29-C) appoints an agent to

For New York blended families, estate planning means deliberately coordinating a will, one or more trusts, a durable power of attorney, and a health care proxy so that your current spouse is provided for and your children from a prior marriage are not accidentally disinherited. Without that coordination, New York’s default rules can hand your entire estate to your surviving

If you are a New York State resident asking what a complete estate plan should include in 2026, the short answer is this: a coordinated set of four documents — a last will and testament, one or more trusts, a durable power of attorney, and a health care proxy — built around New York’s own statutes and the 2026 estate-tax