A will is a starting point, not a complete plan. New York law gives you several tools to protect yourself while you are alive and to simplify what happens after you die.
Planning for incapacity
Two documents cover your medical and financial needs if you become unable to make decisions.
A health care proxy names a person to speak with doctors and make treatment decisions on your behalf. A living will records your specific wishes for end-of-life care, such as whether you want mechanical ventilation or artificial nutrition. Together, they reduce disputes and give your family clear direction.
A financial power of attorney authorizes someone to pay your bills, manage investments and handle tax matters. Under New York General Obligations Law Article 5, Title 15 (2025), POAs are durable by default. If you plan to transfer assets for Medicaid purposes, you may need to specifically authorize gifts over $5,000 on the form.
Managing assets and avoiding probate
New York’s probate process can be slow and costly. These documents may help you avoid it:
- Revocable living trust: Holds assets privately and transfers them to beneficiaries without court involvement. You must re-title your home and accounts in the trust’s name for it to work.
- Beneficiary designations: Retirement accounts, life insurance policies and payable-on-death bank accounts pass directly to named individuals. They supersede your will.
- Disposition of remains form: Designates who may arrange your burial or cremation. Without it, New York defaults to next-of-kin rules that may not reflect your wishes.
Review these documents after major life events such as marriage, divorce or the birth of a child.
Medicaid and long-term care
New York imposes a 60-month lookback period for nursing home Medicaid under New York Social Services Law § 366. Transferring money or property for less than fair market value during that window may result in a penalty period. That penalty could delay or reduce your coverage. Planning well in advance gives you more options.
Getting the right documents in place
Estate planning involves more moving parts than most people expect. An attorney can help you understand which documents fit your situation and confirm they meet New York’s legal requirements.
