As a general rule, you should review your New York estate plan every three to five years, and you should update it immediately after any major life event — a marriage, a divorce, a birth, a death, a move, a large change in your assets, or a change in New York or federal law. An estate plan is not a “set it and forget it” document. It is a living set of instructions that must keep pace with your family, your finances, and the law. A will that was perfectly valid when you signed it can produce results you never intended if your circumstances have shifted and the document has not.
Below, we answer the questions New Yorkers ask us most often about keeping an estate plan current — framed the way clients actually ask them.
“What exactly am I keeping up to date?”
A comprehensive New York estate plan is not a single piece of paper. It is a coordinated set of documents that work together:
- A Last Will and Testament — directs who receives your property and names guardians for minor children. Under EPTL § 3-2.1, a valid NY will requires two attesting witnesses, the testator’s signature at the end of the document, and publication (declaring to the witnesses that the document is your will). Dying without a will means intestacy under EPTL Article 4 decides who inherits — not you.
- Trust(s) — governed by EPTL Article 7. A revocable living trust avoids probate (though it offers no estate-tax savings). An irrevocable trust is used for tax reduction, asset protection, and Medicaid planning (subject to the 5-year look-back). A Supplemental Needs Trust under EPTL 7-1.12 preserves a disabled beneficiary’s public benefits.
- A durable Power of Attorney — under GOL § 5-1513, New York’s power of attorney is durable by default and uses the 2021 statutory short form. It lets a trusted agent handle your financial matters if you cannot.
- A Health Care Proxy — under NY Public Health Law Article 29-C, this appoints an agent to make your medical decisions. It is entirely separate from the financial POA.
When any one of these falls out of date, the whole plan can misfire. That is why a “review” means looking at all of them together.
“When should I update — is there a schedule?”
Yes, and there are really two triggers: the calendar and life events. Use the calendar as a safety net and life events as the real prompts.
| Trigger | Why it matters |
|---|---|
| Every 3-5 years | Catches drift you didn’t notice and changes in the law |
| Marriage or remarriage | A new spouse has rights in NY; old documents may exclude them or include an ex |
| Divorce | NY law revokes some ex-spouse provisions, but never rely on that alone — update everything |
| Birth or adoption of a child/grandchild | Add beneficiaries and name guardians |
| Death of a beneficiary, executor, agent, or trustee | Your named people must actually be able to serve |
| A significant change in assets | A business sale, inheritance, or new property may push you toward the estate tax |
| Moving to or from New York | Each state has its own rules; a plan from elsewhere may not fit NY |
| A child or beneficiary develops special needs | An SNT may be needed to protect benefits |
| A change in tax or estate law | Exemption amounts and rules shift over time |
“What happens in New York if I get divorced and forget to update?”
This is one of the most common — and most dangerous — gaps. New York law does revoke certain provisions in favor of a former spouse after a divorce is final. But that protection is narrow. It may not reach beneficiary designations on retirement accounts and life insurance, jointly titled property, or the ex-spouse you named as your health care agent or power-of-attorney agent. The only reliable fix is to sit down and revise each document. Learn more on our Power of Attorney and Health Care Proxy pages.
“Do changes in the New York estate tax mean I need to update?”
Often, yes — especially if your estate is sizable. New York has its own estate tax, separate from the federal one, and the numbers change.
For deaths on or after January 1, 2026 through December 31, 2026, the New York basic exclusion amount is $7,350,000. The feature that surprises people is the “cliff.” Once an estate exceeds 105% of the exclusion — $7,717,500 — the estate loses the entire exemption and is taxed from the first dollar, not just on the amount above the threshold. The NY estate tax is progressive, running from 3% to 16%.
Two more points New Yorkers should know:
- New York has no gift tax. However, gifts made within three years of death are added back into the taxable estate.
- Because the cliff is so unforgiving, estates near the threshold benefit from careful planning — sometimes lifetime gifting (outside the 3-year window) or irrevocable trusts. See our New York Estate Tax Guide for a fuller breakdown.
If your net worth has grown — through a business, real estate, or an inheritance — it is worth confirming whether you have drifted toward that cliff.
“I moved to New York from another state. Is my old plan still good?”
You should have it reviewed promptly. A will signed in another state is generally recognized if it was valid where executed, but the practical mechanics — witnessing, the statutory POA form, the health care proxy, and how trusts are treated — are governed by New York law. A power of attorney drafted on another state’s form may be questioned by New York banks. The cleanest approach is to have a New York attorney confirm the documents work here and re-execute the ones that don’t. Our statewide guide explains how these rules apply across New York.
“What’s the difference between a small update and a full rewrite?”
Not every change requires starting over.
- Minor changes — swapping an executor, adjusting a specific gift, updating an address — can often be handled with a codicil (an amendment to a will) or a trust amendment.
- Major changes — a remarriage, a new tax strategy, a substantial shift in assets, or many small changes piling up — usually call for fresh documents. Restating a will or trust avoids the confusion of stacking amendments on top of amendments.
A short conversation with an attorney is usually enough to tell which path fits. Start with our Estate Planning Overview and Wills and Trusts pages to see how the pieces connect.
A simple maintenance checklist
- Re-read your will every few years — does it still name the right executor, guardians, and beneficiaries? (EPTL § 3-2.1)
- Confirm your trust is properly funded and the trustee is still appropriate. (EPTL Article 7)
- Check that your durable POA uses the current statutory form and names an agent who can serve. (GOL § 5-1513)
- Verify your health care proxy agent is still the right person. (PHL Article 29-C)
- Review beneficiary designations on retirement accounts and life insurance — these pass outside your will.
- Re-check your exposure to the NY estate-tax cliff if your assets have grown.
Frequently Asked Questions
Q: How often should I update my estate plan in New York?
A: Review it every three to five years as a baseline, and update it right away after any major life event — marriage, divorce, a birth, a death, a significant change in assets, a move, or a change in the law.
Q: Does getting divorced automatically cancel my ex-spouse from my will in New York?
A: New York law revokes certain provisions favoring a former spouse after the divorce is final, but it does not reliably cover beneficiary designations, jointly held property, or agent appointments. You should update every document rather than rely on the statute alone.
Q: Do I need to update because of the New York estate tax?
A: Possibly. For 2026 the basic exclusion is $7,350,000, and an estate over the cliff at $7,717,500 loses the entire exemption and is taxed from the first dollar. If your assets have grown near that range, review your plan.
Q: Can I just amend my will instead of rewriting it?
A: Minor changes can often be made with a codicil or trust amendment. Major changes, or several small ones over time, are usually best handled with fresh, restated documents to avoid confusion.
Talk With a New York Estate Planning Attorney
Your estate plan should reflect your life as it is today — not as it was five or ten years ago. If you have experienced a major life change, your assets have grown, or you simply haven’t looked at your documents in a while, it is time for a review.
Russel Morgan, Esq. and the team at Morgan Legal Group help New Yorkers keep their wills, trusts, powers of attorney, and health care proxies coordinated and current across the entire state.
Schedule your 30-minute consultation with Russel Morgan, Esq.
Further reading from Morgan Legal Group: the New York estate planning guide.