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New York Estate Planning Basics: Core Documents Every Adult Needs
Support GuideNew York14 min read

New York Estate Planning Basics: Core Documents Every Adult Needs

New York estate planning basics under EPTL 4-1.1: the will, financial power of attorney, and health care proxy you need, plus probate and state estate tax.

By Settled Editorial

New York estate planning comes down to three core documents that work together: a last will, a durable financial power of attorney, and a health care proxy. Each one answers a different question. Who gets your property? Who manages your money if you cannot? Who speaks to your doctors when you cannot speak for yourself? Get these three right, and you spare your family the guesswork and court delays that follow when nothing is in place.

This guide is an overview. It points you to the New York rule for each document, explains how probate works here, and covers the small-estate limit, the state estate tax, and who inherits when there is no will. Each section links to a deeper New York guide when you want the full detail.

Why an Estate Plan Matters in New York

Without a Plan

If you die or lose capacity with nothing in place:

  • New York intestate succession under EPTL 4-1.1 decides who inherits your probate property, which may not match your wishes
  • Your family must open a case in Surrogate's Court before anyone can act
  • A judge, not you, may decide who raises your minor children
  • Your family may need a court guardianship proceeding to manage your finances during incapacity

With a Plan

A few well-prepared documents change the picture:

  • You choose exactly who inherits and who manages your estate
  • You name the person who would raise your children
  • You pick who handles your money and your medical care if you cannot
  • You can keep some assets out of probate and reduce delay for your family

The Three Core Documents

1. Last Will and Testament

A will is the base layer of a New York estate plan. It directs who receives your probate property, names the executor who settles your estate, and names a guardian for minor children.

New York's signing rules are strict, and a will that misses them can be denied probate. Under EPTL 3-1.1, any person 18 or older and of sound mind may make a will. Under EPTL 3-2.1, the will must be in writing, signed at the end, and signed by at least two witnesses, and both witnesses must sign within one 30-day period. New York rarely recognizes handwritten or oral wills, so the witnessed ceremony matters most.

For the full signing steps, the self-proving affidavit, and how to revoke or update a will, read our New York will requirements guide.

What a will does not do: A will only takes effect at death, and it must pass through probate before your executor can act. It does nothing during incapacity. That is why you also need the next two documents.

2. Durable Financial Power of Attorney

A power of attorney lets an agent handle your money and property if you cannot. It covers banking, real estate, taxes, benefits, and similar matters. It does not cover medical decisions.

New York's main statute is the General Obligations Law, Article 5, Title 15. A New York power of attorney is durable by default under GOL 5-1501A, which means it keeps working after you lose capacity unless the document says otherwise. The signing rules under GOL 5-1501B are specific: the principal signs before a notary, two witnesses sign, and the agent must sign and have that signature acknowledged before acting.

Here is why this document matters so much. Without a durable power of attorney, your family may need to ask a court to appoint a guardian just to pay your bills or manage your accounts. That means hearings, legal fees, and ongoing court supervision. The power of attorney avoids all of that.

See our New York power of attorney guide for the signing rules, agent duties, and the gift limits built into the statutory short form.

3. Health Care Proxy

A health care proxy names a trusted person to make medical decisions for you once a doctor decides you cannot make them yourself. New York handles medical decision-making mainly through Public Health Law Article 29-C.

Your health care agent can make the medical choices you could make, receive the records needed to decide, and apply your known wishes. One New York rule worth knowing: your agent can decide about artificial nutrition and hydration only if the agent knows your wishes on that point or can find them out with reasonable diligence. So tell your agent what you want.

A financial power of attorney does not cover health care, and a health care proxy does not cover money. Most New York plans need both. You can also write down your treatment wishes as a living will or written health care instructions, which stand as evidence of what you want. New York does not provide a single statutory living-will form.

Our New York health care directive guide covers the proxy, written instructions, and MOLST orders in detail.

How Probate Works in New York

Probate is the court process that proves a will and lets your executor collect assets, pay debts, and distribute what is left. In New York, this happens in the Surrogate's Court of the county where the decedent lived.

Here is the basic shape:

  • The executor named in the will files a probate petition with the original will
  • The court reviews the will and notifies the decedent's distributees, the close relatives who would inherit if there were no will
  • The court issues letters testamentary, which give the executor authority to act
  • The executor pays valid debts and taxes, then distributes the remaining property under the will

When there is no will, the process is called administration instead of probate, and the court appoints an administrator rather than an executor. Our New York probate guide walks through both paths, the timeline, and the fees.

The Small-Estate Shortcut

Not every estate needs full probate. New York has a small-estate process called voluntary administration. Under SCPA 1301, an estate qualifies as a small estate when the decedent left $50,000 or less in personal property, not counting certain property set aside for the family.

The New York courts confirm this $50,000 limit on their self-help pages. The filing fee for voluntary administration is $1. One catch: if the decedent owned real property, such as a house or land, in their name alone, the estate is not a small estate and a different filing is needed.

For eligibility, the filing steps, and the documents to gather, read our New York voluntary administration guide.

Does New York Have an Estate or Inheritance Tax?

New York does have a state estate tax, and this is one of the bigger planning differences between New York and states with no estate tax.

The New York Department of Taxation and Finance sets a basic exclusion amount each year. For deaths on or after January 1, 2026, through December 31, 2026, the basic exclusion amount is $7,350,000. For deaths in 2025, it was $7,160,000. An estate above the exclusion may owe New York estate tax, and the estate tax return, Form ET-706, is generally due within nine months of death.

New York does not have a separate inheritance tax. An inheritance tax would be paid by the person who receives property. New York has no such tax, so beneficiaries do not pay a state tax simply for receiving an inheritance.

If your estate is anywhere near the exclusion amount, talk to an estate planning attorney or tax professional. New York's estate tax has details that can sharply increase the tax for estates that exceed the exclusion by a margin, and those details change over time.

Who Inherits If You Die Without a Will

If a New York resident dies without a valid will, the person died intestate, and EPTL 4-1.1 decides who inherits the probate property. The shares depend on your family at the time of death.

Family situationNew York intestate share (EPTL 4-1.1)
Spouse and no children or other issueSpouse receives the entire estate
Spouse and issueSpouse receives the first $50,000 plus one-half of the rest, issue receive the balance by representation
Issue and no spouseIssue receive everything by representation
Parents, no spouse or issueParent or parents receive everything
Siblings, no spouse, issue, or parentsIssue of the parents receive by representation

Intestacy is a default rule, not a plan. It leaves out unmarried partners, stepchildren who were never adopted, friends, and charities, and it does not let you pick who handles your estate. A will fixes all of that. Read our New York intestate succession guide for the full distribution rules.

How These Pieces Fit Together

Think of your plan in layers. The will directs your probate property at death. The power of attorney and health care proxy protect you during life if you lose capacity. A New York revocable living trust can sit on top of all three to hold assets outside probate and keep your affairs private, which appeals to families who want to avoid Surrogate's Court delay.

A few planning points that round out the basics:

  • If you have minor children, guardianship planning names who would raise them, since a will alone does not settle that choice
  • Beneficiary designations on life insurance, retirement accounts, and payable-on-death accounts pass outside your will, so review them after any marriage, divorce, birth, or death
  • Not sure whether a will alone is enough, or whether you need a trust? Compare the two tools in our national wills vs. trusts guide, then read the broader estate planning overview for how the documents connect

Getting Started

You do not need to do everything at once. A simple order works for most New York adults:

  1. List what you own and who you want to inherit it
  2. Decide who should be your executor, your financial agent, and your health care agent, and ask them first
  3. If you have minor children, decide who would raise them
  4. Prepare the will, the durable power of attorney, and the health care proxy, signed under New York's rules
  5. Tell your chosen people where the documents are kept
  6. Review the plan every three to five years and after any major life change

An attorney is the safest route, especially if you own a home, have a blended family, have a child with special needs, or your estate is near the state estate tax exclusion. New York's signing rules and estate tax leave little room for error.

Frequently Asked Questions

What documents do I need for a basic New York estate plan?

Most New York adults start with three: a last will under EPTL 3-2.1, a durable financial power of attorney under the General Obligations Law, and a health care proxy under Public Health Law Article 29-C. A revocable living trust is an optional add-on.

Does New York have an estate tax or an inheritance tax?

New York has a state estate tax, paid by the estate, with a basic exclusion amount of $7,350,000 for deaths in 2026. New York does not have a separate inheritance tax, so beneficiaries do not pay a state tax just for receiving property.

What is the small-estate limit in New York?

Under SCPA 1301, an estate qualifies as a small estate when the decedent left $50,000 or less in personal property, with certain family property set aside not counted. Real property owned by the decedent alone takes the estate out of the small-estate process.

Who inherits if I die without a will in New York?

Under EPTL 4-1.1, your closest relatives inherit. A spouse with no children takes everything. A spouse with children takes the first $50,000 plus half of the rest, and the children take the balance. Children with no spouse take everything.

Does a New York will avoid probate?

No. A will still goes through probate in Surrogate's Court. To keep assets out of probate, people use tools like a revocable living trust, beneficiary designations, and joint ownership.

How often should I update my New York estate plan?

Review every three to five years and after major events: marriage, divorce, a new child, a death, a large change in assets, or a move into or out of New York.

Related New York Guides

The Bottom Line

A working New York estate plan rests on three documents. A will under EPTL 3-2.1 directs your property and names a guardian for your children. A durable power of attorney under the General Obligations Law lets someone manage your money if you cannot. A health care proxy under Public Health Law Article 29-C lets someone make medical decisions when you cannot. Know that New York has a state estate tax with a $7,350,000 exclusion for 2026, a $50,000 small-estate limit, and an intestacy law under EPTL 4-1.1 that decides who inherits when there is no will. Put the three core documents in place, keep them current, and your family avoids the delay and doubt that come when nothing is written down.

Official Sources

Sources

This guide is general information, not legal advice. Consult a qualified attorney about your situation. It is not legal advice.

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Information current as of June 19, 2026

This content is for informational purposes only and does not constitute legal advice. Probate laws and procedures in New York can change. Consult with a qualified attorney for advice specific to your situation. Full disclaimer.

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