What Are The Six Basic Steps Of The Estate Planning Process In NYC?

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The Six Basic Steps of the Estate Planning Process in NYC

Estate planning is a crucial process that allows individuals to safeguard their assets and ensure that their wishes are carried out after they pass away. In New York City, where the legal landscape is unique and diverse, it’s important to understand the fundamental steps involved in creating a robust estate plan. At Morgan Legal Group, located in the heart of New York City, we specialize in tailoring estate plans to the specific needs of our clients. In this comprehensive guide, we will walk you through the six basic steps of the estate planning process in NYC.

1. Define Your Goals and Objectives

The first step in estate planning is to clearly define your goals and objectives. Take the time to reflect on what matters most to you. Consider questions like:

  • Who do you want to inherit your assets?
  • Do you have specific wishes for healthcare or end-of-life decisions?
  • Are there charitable organizations or causes that you want to support?
  • Do you have minor children, and who would you want to be their guardian?

These considerations will serve as the foundation for your entire estate plan. They will guide decisions regarding wills, trusts, powers of attorney, and other important documents.

2. Create a Will

A last will and testament is a cornerstone of any estate plan. It allows you to outline how you want your assets to be distributed after your passing. In your will, you can name beneficiaries, designate guardians for minor children, and even specify funeral arrangements.

It’s important to work with an experienced estate attorney to ensure that your will is legally sound and accurately reflects your intentions. In New York City, a properly drafted will can help avoid potential complications during the probate process.

3. Consider Trusts for Added Protection

Trusts are powerful tools in estate planning. They can provide added protection for your assets, allow for more detailed instructions on asset distribution, and potentially reduce estate taxes. Common types of trusts include revocable living trusts, irrevocable trusts, and testamentary trusts.

Working with an experienced trust attorney can help you determine which types of trusts align with your specific goals and objectives. Trusts can be particularly beneficial for individuals with substantial assets, complex family dynamics, or specific wishes for how their assets should be managed.

4. Address Healthcare and End-of-Life Decisions

Advance healthcare directives are critical components of estate planning. These documents, which include a healthcare proxy and a living will, ensure that your medical and end-of-life decisions are made according to your wishes if you become unable to communicate them.

Additionally, consider appointing a power of attorney for healthcare decisions. This trusted individual can advocate for your medical preferences and make healthcare decisions on your behalf.

5. Review and Update Your Plan Regularly

Estate planning is not a one-time event. Life changes, such as births, deaths, marriages, divorces, and changes in financial circumstances, can impact your estate plan. Regularly reviewing and updating your plan ensures that it remains aligned with your evolving situation.

Make it a practice to revisit your estate plan at least every few years or whenever a significant life event occurs. An experienced estate attorney can assist you in making necessary adjustments.

6. Seek Professional Guidance

While it’s possible to start the estate planning process on your own, seeking professional guidance is crucial to ensure that your plan is legally sound and effectively protects your assets and loved ones. An experienced estate planning attorney can provide valuable insights, navigate the intricacies of New York law, and help you make informed decisions.


The estate planning process in NYC, like in any other city, requires careful consideration and expertise. By following these six fundamental steps and seeking professional guidance, you can create an estate plan that safeguards your assets and ensures that your wishes are carried out effectively.

At Morgan Legal Group, we specialize in estate planning and probate in New York City. Our experienced attorneys are here to assist you in every step of the process. Contact us today to start your estate planning journey and secure your financial future.

DISCLAIMER: The information provided in this blog is for informational purposes only and should not be considered legal advice. The content of this blog may not reflect the most current legal developments. No attorney-client relationship is formed by reading this blog or contacting Morgan Legal Group PLLP.

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