From the bustling streets of New York City to the quiet, snow-dusted avenues of Long Island, the holiday season is upon us. Whether you are celebrating Christmas, lighting the menorah for Hanukkah, or simply enjoying the warmth of family and friends, we at Morgan Legal Group wish you a season filled with joy, reflection, and peace.
As we stand here on December 25, 2025, looking forward to the dawn of a new year, it is a natural time for reflection. 2025 has been a year of tremendous growth and change—both for our firm and for the legal landscape of New York. We have had the privilege of helping over 1,000 families navigate the complexities of probate, secure their legacies through trusts, and protect their elders from the rising costs of care.
But as an estate planning attorney with decades of experience, I know that the turning of the calendar is more than just a celebration; it is a deadline. 2026 is shaping up to be a pivotal year for tax and elder law.
In this special holiday edition, I want to offer you the ultimate gift: Clarity. We will look back at the lessons of 2025 and provide you with a comprehensive “Legal Roadmap” for 2026, ensuring that your New Year’s resolutions translate into real protection for your family.
The True Meaning of “Gifting” in 2025
During the holidays, we focus on exchanging gifts. But in the world of estate planning, “gifting” has a legal definition that can save—or cost—your family millions.
Reflecting on 2025: The Year of the “Rush”
This past year, we saw a surge in clients rushing to update their plans. Why? Because New Yorkers are realizing that the “old rules” no longer apply. Inflation has driven asset values up, pushing many middle-class families into estate tax territory. The cost of nursing homes in Queens and Brooklyn has hit record highs ($20,000+/month), making Medicaid planning more urgent than ever.
The Best Gift You Can Give
The toys will break, and the sweaters will go out of style. The most profound gift you can give your spouse and children is structure.
- For your Spouse: The certainty that if you pass, they won’t have to fight the court to pay the mortgage.
- For your Children: The protection of a Trust, ensuring their inheritance isn’t lost to a divorce or lawsuit.
- For Yourself: The dignity of an Advance Directive, ensuring your medical wishes are honored.
The 2026 Forecast: 3 Critical Changes Coming Your Way
As we toast to 2026, you need to be aware of three massive shifts in the legal landscape. If your estate plan was written before 2025, it might be obsolete.
1. The “Sunset” is Here (Estate Taxes)
We have been warning about this for years, and now it is at our doorstep. The generous federal estate tax exemptions established by the Tax Cuts and Jobs Act of 2017 are scheduled to “sunset” (expire) at the end of 2025.
What this means for 2026: The exemption amount (the amount you can die with tax-free) is expected to be cut in half.
- If you have a net worth between $7 million and $14 million, you may suddenly find yourself with a massive federal tax liability (40%).
- Action Item for 2026: You must review your plan immediately. Strategies like Spousal Lifetime Access Trusts (SLATs) need to be executed *before* the law changes to lock in the higher exemptions.
2. The Medicaid “Look-Back” is Fully Enforced
2026 marks the full maturation of New York’s new 30-month look-back period for Community Medicaid (Home Care).
The Reality: In the past, you could transfer assets and get home care immediately. In 2026, that window is closed. Any transfers made now will be scrutinized.
Action Item for 2026: If you are over 65, you cannot wait for a health crisis. You must establish a Medicaid Asset Protection Trust now to start the clock.
3. The Rise of Digital Probate
The Surrogate’s Courts in New York are increasingly demanding digital inventory. In 2026, Executors who cannot access a decedent’s digital life (crypto, cloud photos, online banking) will face significant delays.
Action Item for 2026: Update your Power of Attorney and Will to include specific Article 13-A language authorizing digital access.
Your 2026 New Year’s Resolution Checklist
Don’t just resolve to “go to the gym.” Resolve to secure your legacy. Here is the checklist we recommend for all our clients to complete by January 31, 2026.
Step 1: The “Beneficiary Audit”
While you are gathered with family this holiday, think about your accounts.
The Task: Check your IRAs, 401(k)s, and Life Insurance. Do the beneficiaries match your current wishes? (We see too many ex-spouses still listed!).
Step 2: The “Guardian” Conversation
If you have young children, look at them opening their presents. Then ask yourself: “If I don’t come home tomorrow, who raises them?”
The Task: If you don’t have a Will naming a Guardian, call us immediately. This cannot wait.
Step 3: The “Real Estate” Reality Check
Did you buy a vacation home or investment property in 2025?
The Task: Ensure it is titled in the name of your Revocable Living Trust, not your personal name. This simple step avoids probate and saves your family thousands.
A Personal Note from Russel Morgan
I started this firm with a simple mission: to provide New Yorkers with the sophisticated legal strategies of a large firm, delivered with the personal care of a family advisor. Over the years, and especially in 2025, I have been humbled by the trust you place in us.
Whether we helped you navigate the loss of a parent, fight a difficult guardianship battle, or structure a trust for your grandchildren, thank you for letting us be part of your story.
As we enter 2026, my team and I recommit ourselves to your protection. We will stay ahead of the tax laws, fight the insurance companies, and navigate the courts so that you don’t have to.
Let’s Make 2026 Your Most Secure Year Yet
The holidays are a time for family. Let’s make sure your family is protected for generations to come.
From all of us at Morgan Legal Group—Merry Christmas, Happy Hanukkah, and a healthy, prosperous New Year 2026!
We are open and ready to help you tackle your 2026 resolutions. Schedule a consultation with our team today, and enter the New Year with confidence.
For more on the upcoming tax changes, you can review the IRS Estate and Gift Tax Guidelines.
