Estate Planning Laws in New York.

Comprehensive statute governing wills, intestate succession, trusts, and estate administration.

Governs probate and estate administration proceedings in the Surrogate's Court.

Requires testator's signature, signature at end of will, 2 witnesses present at execution, publication (declaring the instrument is a will), and witness attestation within 30 days.

New York does not recognize holographic wills by the general public. Exception: members of the armed forces during active service and mariners at sea may execute holographic or nuncupative (oral) wills, which expire 1 year after discharge.

Surviving spouse may elect against the will and take the greater of $50,000 or one-third of the "net estate" (including certain testamentary substitutes).

Estate tax on estates exceeding the NY basic exclusion amount ($6.94 million in 2024, indexed to inflation). CLIFF effect: estates exceeding 105% of exclusion pay tax on entire estate. No NY gift tax (different from estate).

New York has an estate tax but no inheritance tax.

New York significantly reformed its Power of Attorney statute in 2021 (effective June 13, 2021), simplifying execution requirements (signed by principal, 2 witnesses — of whom one may be the notary; notary required) and strengthening principal protections.

New York allows a Health Care Proxy designating an agent to make medical decisions. Living wills are recognized as clear and convincing evidence of wishes but do not have statutory form.