When most New Yorkers walk into my office for the first time, they expect a transaction. They expect to answer a few questions, sign a document, and leave with a “Will.” They view estate planning as a product—something you buy off a shelf.
But as an estate planning attorney with over 30 years of experience, I know that true protection is not a product. It is a process. It is a rigorous, detailed architectural endeavor that involves digging into the deepest corners of your financial life and building a fortress that can withstand the aggressive legal environment of New York State.
I am Russel Morgan, and at Morgan Legal Group, we believe in radical transparency. You asked for “vivid details” of what this process entails. In this comprehensive cornerstone guide, I will take you behind the curtain. I will show you the mechanics of the “Discovery Phase,” the strict formalities of the “Execution Ceremony” (where even a removed staple can ruin a plan), and the critical “Funding Phase” that most lawyers forget.
In 2026, with the Estate Tax Sunset and strict Medicaid rules looming, the details matter more than ever. Here is exactly what estate planning entails.
Phase 1: The Forensic Audit (The “Discovery”)
The process does not begin with a document. It begins with a detective hunt. Before we can protect your assets, we must identify them. In New York, this is often the most revealing part of the process.
The “Kitchen Table” Reality
You might think you know what you own. But do you?
What estate planning entails is a brutal inventory of every moving part of your life.
- The “Lost” Accounts: We often find old 401(k)s from jobs you left 15 years ago.
- The Title Check: You say you own your house “with your wife.” But does the deed say “Tenants by the Entirety” or “Tenants in Common”? One protects the survivor; the other triggers probate. We pull the actual deed from the County Clerk to verify.
- The Digital Vault: In 2026, we ask about your crypto wallets, your NFT collections, and your revenue-generating YouTube channels. Without the “seed phrases” or passwords, this wealth evaporates when you die.
The Beneficiary Audit
This is where we catch the most dangerous mistakes. We review the “Beneficiary Designation” forms for your Life Insurance and IRAs.
The Vivid Detail: I once sat with a client who had remarried 10 years prior. When we pulled his life insurance policy, the primary beneficiary was still his ex-wife. Had he died that day, his ex-wife would have received $1 million, and his current wife would have received nothing. The Will would not have saved her. Correcting this single line of text is what estate planning entails.
Phase 2: The Architecture (Designing the Blueprint)
Once we know what you own, we design the structure. This is not about filling in blanks on a form. It is about choosing the right vehicle for your journey.
The “Probate Analysis”
We look at your assets and ask: “If you die today, who gets the keys?”
If you own a co-op in Queens in your own name, the keys go to the Public Administrator until the Surrogate’s Court appoints an Executor. This takes 9-18 months.
The Design Choice: To avoid this, we design a Revocable Living Trust. This is a private container. We design it so that *you* hold the keys while you are alive, and your daughter holds them the second you pass. No court. No delay.
The “Tax Cliff” Calculation
New York has a brutal estate tax “Cliff.” If your estate exceeds the exemption (approx. $6.94M) by 5%, you pay tax on the entire amount.
The Vivid Detail: If you are worth $7.1 million, you might owe $600,000 in tax just for being slightly over the limit. Planning entails creating “Santa Clause” provisions or “Credit Shelter Trusts” to artificially cap your estate or double your exemption, saving your family a fortune.
Phase 3: The Drafting (The “Language of Protection”)
Now, we write. But legal drafting is not just typing; it is anticipating conflict.
Defensive Drafting for “Black Sheep”
Every family has dynamics. The child with a drug problem. The son-in-law you don’t trust.
What estate planning entails is creating Spendthrift Clauses. These clauses say: “My son gets the money, but his creditors cannot touch it. If he gets divorced, his ex-wife gets $0. If he relapses, the Trustee cuts off the cash flow and pays his landlord directly.”
The “Incapacity Engine”
We draft the Power of Attorney. In NY, this is a statutory form, but the magic is in the “Modifications.”
The Vivid Detail: We include specific language authorizing your agent to create trusts and move assets. Why? Because if you have a stroke and need a nursing home, your family needs to move your house *out* of your name to qualify for Medicaid. Without this specific paragraph, they are powerless.
Phase 4: The Ceremony (Strict Execution)
This is the part Hollywood gets wrong. In New York, the signing of a Will is a formal legal ceremony (EPTL 3-2.1). If you mess this up, the Will is worthless.
The Room
You come to our office. We sit in a conference room. The door is closed. No beneficiaries are allowed in the room (to prevent claims of “Undue Influence”).
The Ritual
- The Declaration: I ask you, “Is this your Will? Have you read it? Does it express your wishes?” You must answer audibly “Yes.” A nod is not enough.
- The Witnesses: Two disinterested witnesses (who get nothing from the Will) watch you sign.
- The “30-Day Rule”: In NY, witnesses must sign within 30 days of each other. We do it all at once to be safe.
- The Staple: This is a vivid detail that shocks people. Once the Will is stapled, it must never be unstapled. If the Surrogate’s Court sees staple holes that don’t match, they presume you tampered with the Will. We warn you: “Do not scan this yourself. Do not remove the staples.”
Phase 5: The Funding (The “Heavy Lifting”)
This is the step 90% of lawyers skip, and it is why 50% of estate plans fail.
You signed a Trust. Great. But the Trust is just a bucket. If you don’t put your assets *into* the bucket, it is useless.
The Deed Transfer
What estate planning entails is physically recording a new deed. We take your house in Brooklyn (currently titled to “John Doe”) and file a deed transferring it to “John Doe, as Trustee of the Doe Family Trust.”
The Result: The Trust now owns the house. The house is safe from probate.
The “Assignment” of Assets
We help you go to the bank. We help you fill out the forms to change the owner of your brokerage account to the Trust. We assign your LLC interests to the Trust.
The Vivid Detail: Imagine your family finding your Trust binder after you die, only to discover your bank accounts are still in your individual name. They still have to go to court. We ensure that doesn’t happen by “funding” the plan while you are alive.
Phase 6: The “Fire Drill” (Testing the Plan)
A good plan is not static. It is a living thing.
We encourage clients to review their plan every 3 to 5 years.
- Did you buy a new house?
- Did your daughter get married (or divorced)?
- Did the tax laws change (like the 2026 Sunset)?
What estate planning entails is a lifelong relationship with your attorney. We are your lookouts on the watchtower, alerting you when a change in the law threatens your fortress.
Conclusion: The Ultimate Peace of Mind
So, what does estate planning entail?
It entails digging deep into your finances. It entails making hard decisions about your family. It entails strict legal formalities and tedious paperwork at the bank.
But the result is profound. It is the knowledge that when the inevitable happens, your family will not be fighting in court. They will be grieving in peace, supported by the structure you built.
Do not settle for a “form.” Build a fortress. Schedule a consultation with Morgan Legal Group today. Let us handle the details so you can enjoy your life.
To understand the rigorous requirements for executing a Will in New York, you can review New York Estates, Powers and Trusts Law § 3-2.1.