If you have never worked with an estate-planning attorney before, the process can feel overwhelming. This page explains exactly what to expect when you meet with Russel Morgan, Esq., and why acting now — not after a crisis — is the single most important step you can take.
What We Cover in Your First Meeting
A complete New York estate plan is not one document; it is a coordinated set of instruments that work together:
| Document | Governing Law | What It Does |
|---|---|---|
| Last Will & Testament | EPTL §3-2.1 | Directs property distribution; names an executor |
| Revocable or Irrevocable Trust | EPTL Article 7 | Manages assets during life and avoids probate |
| Durable Power of Attorney | GOL §5-1513 | Authorizes someone to act financially if you are incapacitated |
| Health Care Proxy | Public Health Law Art. 29-C | Names a medical decision-maker |
Why “Protect” Is the Operative Word
Many people confuse estate planning with asset protection. They are related — but distinct. In New York, you cannot shelter your own assets from your own creditors through a self-settled or revocable trust. What you can do:
- Use an irrevocable trust (including a Medicaid Asset Protection Trust, subject to the 5-year look-back rule) to remove assets from your taxable and reachable estate.
- Separate business liability with an LLC or other entity.
- Rely on ERISA-qualified retirement accounts and statutory exemptions under CPLR Article 52 — such as the homestead exemption under CPLR §5206.
- Maintain adequate life and liability insurance.
Timing is everything. Transfers made after a creditor claim arises can be unwound as fraudulent conveyances under New York’s Debtor & Creditor Law. Protection must be built before a problem appears.
New York Estate Tax — 2026 Numbers
With the 2026 New York basic exclusion at $7,350,000 and a sharp “cliff” at $7,717,500 (where the entire exemption disappears for estates just above that threshold), even moderately successful families need proactive planning. Learn more on our NY estate tax guide.
What Happens Next
- Book your 30-minute strategy call below.
- We map your assets, family goals, and exposure points.
- You receive a plain-English action plan — will, trust structure, power of attorney, and asset-protection recommendations tailored to New York law.
Serving clients across New York City, Long Island, Westchester, the Hudson Valley, and Upstate New York.
Have a question about your estate?
Talk it through with Russel Morgan — free 30-minute consult.
Further reading from Morgan Legal Group: .