Most checklists hand you a list of documents and call it a day. That misses the point. The real work is choosing which tools fit your life in Brooklyn. Here is a checklist built around comparing your options at each step under New York law.
1. Decide How Your Assets Will Pass: Will vs. Trust
The foundation is a choice. A will (valid under EPTL §3-2.1, requiring your signature and two witnesses) directs your property but must pass through probate in the Kings County Surrogate’s Court, the courthouse on Adams Street downtown. A revocable living trust avoids probate and keeps matters private, but it does not save estate tax and requires you to retitle assets into it. Compare the cost and control of each before defaulting to one.
2. Address Estate Tax Exposure
Check whether your Brooklyn estate approaches New York’s 2026 exclusion of $7,350,000, with its cliff at $7,717,500. Below it, focus on simplicity. Near or above it, compare strategies: an irrevocable trust, gifting, or a life insurance trust. The cliff means going slightly over can tax the whole estate, so this number deserves real attention if you own appreciated Brooklyn real estate.
3. Plan for Incapacity, Not Just Death
Two documents work as a pair. A durable power of attorney (NY’s statutory form under GOL §5-1513) lets someone manage your finances if you cannot. A health care proxy (PHL Article 29-C) names someone to make medical decisions. The comparison here is between naming agents in advance versus leaving your family to seek a court-appointed guardian, a slow and public process.
4. Coordinate Beneficiary Designations
Retirement accounts and life insurance pass by beneficiary form, not by your will. Confirm these match your overall plan. A common Brooklyn mistake is a will that leaves everything to your spouse while an old 401(k) still names an ex.
5. Plan for Minor Children or Dependents With Special Needs
If you have young children, name a guardian in your will. If a loved one receives government benefits, compare a direct gift (which can disqualify them) against a supplemental needs trust under EPTL §7-1.12, which preserves eligibility while providing for extras.
6. Consider Medicaid and Long-Term Care
If nursing care is a concern, compare paying privately against planning early. An irrevocable trust can protect assets, but New York applies a five-year lookback for transfers, so timing matters. Waiting until a crisis usually removes the best options.
7. Organize and Store Your Documents
Tell your executor or agent where originals are kept. An unsigned or lost will can send your estate into intestacy under EPTL Article 4, where New York’s formula, not your wishes, controls.
Putting It Together
Work top to bottom: decide will versus trust, check your tax exposure, cover incapacity, align beneficiaries, protect dependents, weigh long-term care, then store everything safely. Each step is a comparison, not a box to tick blindly.
Every Brooklyn estate is different, and the best comparison depends on your assets and family. Consult a licensed New York estate planning attorney to tailor this checklist to you. This article is general information, not legal advice.
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