A New York Estate Planning Checklist for 2026

A complete New York estate planning checklist for 2026 comes down to four coordinated documents: a last will and testament, one or more trusts, a durable power of attorney, and a health care proxy — all drafted to work together rather than in isolation. If you are a single person planning for yourself, these four instruments decide who manages your money if you cannot, who makes your medical decisions, and who receives your assets when you pass. The rest of this guide walks you through each item on the list, the New York statutes that govern it, and the 2026 estate tax thresholds you need to watch. For a single individual without a spouse to default to, getting these documents right is not optional — it is the only way to keep the State of New York from writing your plan for you.

Why Individuals Need a Plan, Not Just a Will

When a married person dies, the law gives a surviving spouse priority for inheritance and decision-making. A single individual has no such automatic backstop. If you become incapacitated without a power of attorney, your family may have to petition a court to manage your affairs. If you die without a will, New York’s intestacy rules under EPTL Article 4 distribute your estate to relatives in a fixed order — possibly to people you would never have chosen, and never to friends, partners, or charities you care about. Planning as an individual means being deliberate about every appointment, because nothing happens by default in your favor.

Our estate planning overview explains how the pieces fit together for a single-person household.

The 2026 New York Estate Planning Checklist

Here is the core checklist. Work through each item — and review the whole plan every few years or after any major life change.

#	Document	What It Does	Governing Law
1	Last Will and Testament	Names your beneficiaries, executor, and (if applicable) guardians	EPTL §3-2.1
2	Revocable Living Trust	Avoids probate; keeps your affairs private	EPTL Article 7
3	Irrevocable Trust (if needed)	Tax reduction, asset protection, Medicaid planning	EPTL Article 7
4	Durable Power of Attorney	Lets an agent handle finances if you cannot	GOL §5-1513
5	Health Care Proxy	Appoints an agent for medical decisions	PHL Article 29-C
6	Beneficiary Designations	Align retirement accounts and life insurance with the plan	(account contracts)

1. Your Last Will and Testament

The will is the foundation. Under EPTL §3-2.1, a valid New York will requires that the testator sign at the end of the document, that the signing be witnessed by two attesting witnesses, and that the testator publish the will — that is, declare to the witnesses that the document is their will. Miss any of these formalities and the will can fail.

For an individual, the will is where you name an executor you trust and direct your assets to the people or causes you choose. Without it, EPTL Article 4 intestacy controls, and your estate flows to your closest blood relatives in a statutory order. Learn more on our wills page.

2. and 3. Trusts — Revocable and Irrevocable

Trusts are governed by EPTL Article 7. They serve very different purposes depending on type:

• A revocable living trust lets you avoid probate and keep your estate private. You retain full control during life and can amend or revoke it at any time. Note: a revocable trust offers no estate-tax savings, because the assets remain in your taxable estate.
• An irrevocable trust is the tool for tax reduction, asset protection, and Medicaid planning. Assets placed in a properly structured irrevocable trust can move out of your taxable estate — but Medicaid imposes a five-year look-back on transfers, so timing matters.
• A Supplemental Needs Trust (EPTL §7-1.12) lets you leave assets to a disabled beneficiary without disqualifying them from means-tested public benefits.

See our trusts page to decide which structure fits your goals.

4. Durable Power of Attorney

A power of attorney under GOL §5-1513 lets you appoint an agent to manage your finances — pay bills, handle accounts, and deal with property. In New York, a power of attorney is durable by default, meaning it remains effective even if you become incapacitated. New York adopted a 2021 statutory short form that streamlined the document and changed witnessing rules, so older POAs should be reviewed. For a single person, this is arguably the most urgent document on the list: without it, no one has automatic authority over your finances if you are hospitalized.

5. Health Care Proxy

A health care proxy under Public Health Law Article 29-C appoints an agent to make medical decisions for you if you cannot speak for yourself. This is distinct from your financial POA — one covers your money, the other covers your body. Choose someone who knows your wishes and will honor them.

6. Beneficiary Designations

Retirement accounts and life insurance pass by beneficiary designation, not by your will. Review these so they match — not contradict — your overall plan.

The 2026 New York Estate Tax — Mind the Cliff

New York imposes its own estate tax separate from the federal system. For deaths on or after January 1, 2026 through December 31, 2026, the basic exclusion amount is $7,350,000. The rate is progressive, running from 3% to 16%.

The trap is the New York estate tax cliff. The exclusion phases out completely once an estate reaches 105% of the exclusion — $7,717,500. An estate over the cliff loses the ENTIRE exemption and is taxed from the first dollar, not just on the amount above the threshold. The difference between landing just under and just over can be hundreds of thousands of dollars in tax.

A few planning points for individuals:

• New York has no gift tax, so lifetime gifting can reduce a taxable estate.
• However, gifts made within three years of death are added back to the taxable estate.
• Charitable bequests and credit-shelter trust structures can help keep an estate under the cliff.

Our NY estate tax guide breaks down the math in detail.

Frequently Asked Questions

Do I need a will if I have a revocable living trust?
Yes. Even with a trust, you need a “pour-over” will to capture any assets not titled in the trust and to name an executor. The two documents work together.

What happens if I die without a will in New York?
Your estate passes under intestacy rules in EPTL Article 4 to your closest relatives in a fixed statutory order. Friends, partners, and charities receive nothing. For an individual with no spouse or children, the result can be far from what you intended.

Is my power of attorney automatically durable in New York?
Yes. Under GOL §5-1513, a New York power of attorney is durable by default and stays in effect even if you become incapacitated, unless the document says otherwise.

How do I avoid the New York estate tax cliff?
Because crossing $7,717,500 forfeits the entire exemption, planning aims to keep the taxable estate under that figure — often through lifetime gifts (no NY gift tax, but a three-year add-back) and trust planning. An attorney can model the numbers for your situation.

Talk to a New York Estate Planning Attorney

A checklist is a starting point — the right plan depends on your assets, your goals, and the 2026 thresholds. At Morgan Legal Group, Russel Morgan, Esq. helps individuals across New York State build coordinated plans that protect their wishes and minimize tax exposure. For statewide context, see our New York statewide guide.

Schedule your 30-minute consultation with Russel Morgan, Esq. and start your 2026 plan today.