Estate planning basics in New York

State rules are general information kept current by Legacy Guard, last reviewed October 21, 2026. Your attorney's advice comes first. Figures that are adjusted each year are given for the year stated.

What this means for your plan

• New York taxes estates above its own threshold, which is below the federal $15 million exemption. Families near the line often plan for it with gifts, trusts, or titling. Ask your attorney whether your plan accounts for it.
• A transfer on death deed can pass your home to a named person without probate. It does not replace a trust, and it needs to be coordinated with one, but it is a simple tool worth asking about.
• Small estate rules only matter if little or nothing goes through probate. A funded trust and up to date beneficiary designations are what keep an estate small in the first place, and that is exactly what the Legacy Guard annual review checks each year.

Questions about New York

Does New York have an estate tax?

Yes. Estates over $7.35 million (2026; $7.16 million in 2025, adjusted yearly) pay 3.06 to 16 percent. The cliff: an estate more than 5 percent over the threshold loses the whole exemption and is taxed from the first dollar. Gifts made within three years of death are added back.

Does New York have an inheritance tax?

No. New York does not tax what an heir receives.

Is New York a community property state?

No. New York is a common law property state. New York probate runs through the Surrogate's Court, is public, and commonly takes nine months to a year or more with an attorney. A living trust is commonly used, and the estate tax cliff makes planning near $7 million especially important.

Does New York allow a transfer on death deed for real estate?

Yes, since 2024. New York adopted a transfer on death deed effective July 19, 2024.

What is the small estate limit in New York?

Voluntary administration (a small estate proceeding in Surrogate's Court) for personal property up to $50,000. Real estate cannot use it.