Most New Yorkers know they should have an estate plan. Fewer know exactly where to start — or why the order of steps matters. At Morgan Legal Group, attorney Russel Morgan, Esq. takes a checklist-first approach: we map what you have, identify every gap, and build a plan that works under New York law before you ever leave the office.
We serve clients across the entire state — New York City, Long Island, Westchester, the Hudson Valley, and Upstate New York — handling everything from a first revocable trust to multi-generation irrevocable strategies.
The NY Estate-Planning Checklist: What to Assess Before You Sign Anything
A sound plan addresses four questions in order. Skip one and the others may not hold.
| Step | Question to Answer | Key NY Tool |
|---|---|---|
| 1 | Who receives my assets — and do they need protection? | Will or Revocable Living Trust |
| 2 | Does my estate exceed the 2026 NY exclusion ($7,350,000)? | Irrevocable Trust strategies |
| 3 | Is a beneficiary disabled or receiving means-tested benefits? | Supplemental Needs Trust under EPTL § 7-1.12 |
| 4 | Who manages assets if I am incapacitated or after I die? | Trustee selection + trust administration plan |
Working through this list is the fastest way to see exactly which documents you need — and which you can skip.
Why a Trust Often Beats a Will Alone in New York
A will vs. trust comparison almost always favors adding at least one trust to your plan:
- Probate avoidance. Assets held in a revocable living trust pass directly to beneficiaries. A will must be admitted to Surrogate’s Court — a public, time-consuming process.
- Privacy. Trust documents are not public record; wills are.
- Incapacity management. A revocable trust lets your successor trustee step in immediately if you are unable to act, without a court petition.
- Tax planning. A revocable trust does not reduce estate tax — assets remain in your taxable estate. If your estate may exceed the 2026 exclusion of $7,350,000, an irrevocable strategy is the appropriate next step. New York’s “cliff” rule means an estate at or above 105% of the exclusion ($7,717,500) loses the entire exemption — not just the excess.
All trusts are governed by NY Estates, Powers and Trusts Law (EPTL) Article 7. Every trustee we help select or serve as owes strict fiduciary duties: the prudent-investor standard under EPTL Article 11-A, undivided loyalty, and the duty to account to beneficiaries.
How We Work With You
- Discovery call — 30 minutes to map your assets, family structure, and goals.
- Gap analysis — written checklist of missing documents and planning risks.
- Drafting & execution — EPTL-compliant documents signed and funded correctly.
- Ongoing review — law changes (like the 2026 exclusion update) trigger a proactive reach-out.
Explore our full trusts overview or schedule a consultation to work through your checklist with Russel Morgan, Esq.
Have a question about your estate?
Talk it through with Russel Morgan — free 30-minute consult.
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