When the 2008 recession hit, our founder, Vlad, lost his job as general counsel. It wasn’t the plan. But instead of waiting for the next opportunity to come along, he made one. He opened an estate planning practice with a simple goal: help people and enjoy the work. If either of those ever stopped being true, he’d rethink things.
Seventeen years and a team of 12 later, we’re still working by that rule. To celebrate our anniversary this October, we put together 17 tips drawn from the conversations we have with New York families every week. A few will seem obvious. Some will probably surprise you.
Start With the Basics
1. Make a will, even if you think you don’t need one.
We hear “I don’t have enough to need a will” all the time. But a will isn’t really about how much you have. It’s about who decides what happens to it. Without one, New York law makes that call. If you’re married with kids, for instance, your spouse gets the first $50,000 and half of what’s left, and your children get the rest. Most couples are surprised to learn that, and many wouldn’t choose it.
2. Sign it properly.
New York is particular about how wills are signed. You sign at the end, with at least two witnesses present, and you tell them it’s your will. It sounds simple, and it is, until something goes wrong and a family ends up in Surrogate’s Court trying to prove the will is valid.
3. Decide who would raise your kids.
This is the one parents put off the most, and we understand why. Nobody wants to imagine it. But if you don’t name a guardian, a judge will choose one. Pick someone, then pick a backup.
4. Think hard about your executor.
People often default to their oldest child. Sometimes that’s the right choice. Sometimes it isn’t. Your executor will be dealing with banks, bills, paperwork, and possibly siblings with strong opinions, sometimes for more than a year. Choose the person who can stay calm and get it done.
Plan for the Moments Before the End
5. Get a health care proxy and a living will.
If you end up in the hospital and can’t speak for yourself, your family shouldn’t have to guess what you’d want. A health care proxy names the person who decides. A living will tells them what you’d choose. Having both takes a lot of weight off the people you love.
6. Sign a power of attorney.
If you can’t manage your own finances because of an illness or accident, someone has to pay the mortgage and keep the lights on. A durable power of attorney gives a person you trust the authority to do that. Without one, your family may have to go to court for a guardianship, which takes time and money at the worst possible moment. New York simplified its power of attorney form in 2021, so it’s easier to put in place than it used to be.
7. Add a HIPAA authorization.
Privacy rules can keep doctors from talking to your spouse or adult children. This short form fixes that.
Protect What You’ve Worked For
8. Ask whether a trust makes sense for you.
A revocable living trust can keep your estate out of probate and out of the public record. It’s not something everyone needs. But if you own a home, have a blended family, or just want things to move quickly for your loved ones, it’s worth a conversation.
9. Put assets into the trust.
This one catches people constantly. They sign a trust, file it away, and never move anything into it. A trust only controls what’s titled in its name. An empty trust doesn’t help anyone.
10. Look at your beneficiary forms.
Your 401(k), IRA, and life insurance go to whoever is listed on the account, no matter what your will says. We’ve seen forms that still name an ex-spouse from decades ago. Pull them up and check.
11. Watch out for New York’s estate tax cliff.
New York has its own estate tax, and the exemption is just over $7 million per person in 2026. The catch is that if your estate goes more than 5 percent over that number, the whole estate can be taxed, not just the part above the limit. Since the federal exemption is $15 million, plenty of New Yorkers owe the state without owing the IRS a thing. With the right planning, that can often be avoided.
12. Think about long-term care early.
Nursing home care in New York is expensive enough to wipe out savings fast. Medicaid planning can help protect what you want to leave behind, but Medicaid looks back at what you’ve given away in the years before you apply. Waiting until you need care usually means fewer options.
13. Take care of a family member with special needs.
If someone you love receives government benefits, leaving them money directly could cost them those benefits. A supplemental needs trust lets you help them without putting that support at risk.
Keep Your Plan From Going Stale
14. Don’t forget the house in Florida.
Or New Jersey, or wherever else you own property. Real estate in another state may need to go through probate there too, which means your family deals with two courts instead of one. Some planning now can prevent that.
15. Make a plan for your digital life.
Think about your email, photos, online banking, social media, and any cryptocurrency. New York lets you give someone access to all of it, but only if you’ve set that up ahead of time.
16. Revisit your plan when life changes.
A wedding, a divorce, a new baby, a move, a business sale, a death in the family. Any of these can make your documents outdated. And even if nothing big happens, it’s smart to look things over every few years.
17. Tell your family.
You don’t have to walk them through every detail. But the people who will handle things should know that a plan exists and where to find it. It sounds small. In practice, it prevents a lot of confusion and hurt feelings.
Why We Still Love This Work
As a kid growing up in Russia, Vlad thought of lawyers as superheroes without capes. That idea stuck with him, and it’s a big part of why this firm exists. After 17 years, we still believe the best legal work is personal, and we’re grateful to every family who has trusted us with something this important. If you’re ready to start a plan, or it’s been a while since you looked at the one you have, we’d be glad to help.