If you live in Little Neck or Douglaston (Zip Code 11362), you enjoy a unique slice of New York City. With its tree-lined streets near Marathon Parkway, the historic waterfront homes of Douglaston Manor, and the quiet residential feel of the “Deepdale” area, this neighborhood offers a suburban sanctuary within the five boroughs.
But owning a home in 11362 comes with a specific set of financial responsibilities in 2026. The high property values that make this area so desirable also make its residents prime targets for the New York Estate Tax and the high costs of Queens Probate. Whether you own a multi-million dollar waterfront property or a long-held family home near Northern Boulevard, failing to plan can cost your heirs tens of thousands of dollars.
I am Russel Morgan, founder of Morgan Legal Group. For over 30 years, our firm has served the families of Northeast Queens. We understand that estate planning in Little Neck isn’t just about legal documents; it’s about protecting the hard-earned equity of families who have built this community. This comprehensive guide will explain exactly what estate planning entails for residents of 11362.
The 11362 “Wealth Illusion”: Why You Need a Plan
Many residents in Douglaston and Little Neck do not consider themselves “wealthy” in the traditional sense. You might be a retired teacher, a small business owner, or a civil servant. However, if you bought your home 30 years ago, you are likely sitting on a substantial asset.
The Real Estate Risk
In 11362, even modest single-family homes often sell for over $1.2 million.
The Consequence: When you pass away, the State of New York and the Queens Surrogate’s Court look at the current market value of your home, not what you paid for it.
- Probate Fees: Statutory executor commissions and court fees are roughly 5% of your gross estate. On a $1.2M home, that is $60,000 lost to administrative friction.
- The Tax “Cliff”: New York has an estate tax exemption of approximately $6.94 million. If your total assets (home + life insurance + retirement) exceed this by just 5%, you are taxed on the entire estate. This “Cliff” is a trap for many Douglaston families with high property values and good savings.
Explained: Will vs. Trust for Little Neck Homeowners
The most common question we get is: “Do I need a Will or a Trust?” For homeowners in 11362, the answer is usually a Trust.
The Problem with a Will
A Last Will and Testament is a ticket to court. If you leave your Little Neck home to your children via a Will, they must hire a lawyer and go to the Queens County Surrogate’s Court in Jamaica to transfer the deed.
In 2026, this process takes 9 to 15 months. During that time, your children cannot sell the house, yet they must keep paying the steep property taxes and utilities.
The Power of a Living Trust
A Revocable Living Trust avoids this entirely.
How it works: You change the deed of your house from “John Smith” to “The John Smith Family Trust.”
The Benefit: You keep full control while you are alive. When you pass, your Successor Trustee (your child) can sign a deed to sell the house the next day. No court. No delay. No 5% probate fee.
Special Considerations: Co-ops (Deepdale) vs. Douglaston Manor
Zip code 11362 is diverse. Your legal strategy depends on your specific type of housing.
For Deepdale Gardens / Beech Hills Co-op Owners
If you live in a co-op, you own shares, not real estate.
The Risk: Co-op boards have the power to reject your heirs. If you leave the apartment in a Will, your heirs have to go through probate AND board approval.
The Fix: We review your proprietary lease. We often recommend placing co-ops into a Trust during your lifetime (with Board consent) to ensure a smooth transfer.
For Douglaston Manor / Waterfront Homeowners
If you own a high-value home in the Manor, you have unique liability risks.
The Strategy: We look at Asset Protection. We may recommend more advanced structures, such as Qualified Personal Residence Trusts (QPRTs) or LLCs for investment properties, to shield your wealth from lawsuits and reduce your taxable estate.
Protecting Your Home from Long-Term Care Costs
Residents of Little Neck tend to stay in the neighborhood as they age. But aging in New York is expensive. The cost of a nursing home in Queens is now approaching $20,000 per month.
The Medicaid Reality in 2026
Medicare does not pay for long-term custodial care. If you need a home health aide or nursing home, you must pay out of pocket until you are broke. Then, Medicaid places a lien on your home to pay itself back.
The Solution: The Medicaid Asset Protection Trust (MAPT).
- You transfer the home to the Trust.
- You keep the right to live there for life.
- You keep your STAR exemptions.
- After the 5-year look-back period (or 30 months for home care), the house is protected from Medicaid liens.
Incapacity Planning: The “Living” Plan
What happens if you are hospitalized at North Shore University Hospital and cannot make decisions?
The Power of Attorney
You need a New York Statutory Power of Attorney with the “Modifications” section executed. Without this, your family cannot access your bank accounts to pay your mortgage or protect your assets from elder care costs.
The Health Care Proxy
This appoints someone to speak to doctors on your behalf. Without it, your family may be forced into a public Guardianship proceeding just to make medical decisions.
Why Choose Morgan Legal Group for 11362?
You searched for “Estate planning attorney near me 11362” because you want local expertise. Here is why Morgan Legal Group is the trusted choice for your neighbors:
- We Know the Value of Your Home: We understand that a house in Little Neck is a significant asset that triggers specific tax and probate liabilities.
- We Know the Queens Courts: We navigate the Queens Surrogate’s Court daily and know how to expedite proceedings when necessary.
- We Are Holistic: We don’t just write Wills. We integrate tax planning, elder law, and asset protection into one cohesive strategy.
Your Next Steps
Living in Little Neck or Douglaston means you have worked hard to secure a high quality of life. Don’t let a lack of planning jeopardize that legacy.
The laws in 2026 are strict. Schedule a consultation with Morgan Legal Group today. Whether you need to protect a co-op, a waterfront manor, or your life savings, we are here to help.
For more information on the specific zoning and property details of our neighborhood, you can visit the NYC Zoning & Land Use Map.