Most people don't love to think about legal documents or what happens to their assets after they're gone. Totally understandable. But estate planning isn't just about the end—it's about living with peace of mind, knowing your family, your wishes, and your assets are protected.

At McAdoo Estate Planning, we help New Yorkers plan for the future with security, making wills, trusts, probate, and healthcare directives easier to understand and handle. Let's go over everything you need to know about estate planning.

The Basics: Wills vs. Trusts—What's the Difference?

When people hear “estate planning,” most immediately think of a will. And yes, a will is important—it outlines who gets what when you've passed away. But a trust can offer even more protection and flexibility.

Here's a  breakdown:

Wills go through probate and become public record

A wills is a legal document that outlines your final wishes, like who should inherit your assets or care for your children. But before anything can be distributed, it must go through probate, which is the court-supervised process of validating your will, settling debts, and distributing property.

This process:

• It can take months (or longer) in New York.
• Involves court fees and potential legal challenges.
• Becomes part of the public record, which means anyone can access it—no privacy.
  
  

Trusts can often avoid probate and keep things private

A trust, especially a revocable living trust, allows you to place your assets into a legal entity that holds and manages them according to your wishes. When set up correctly, a trust:

• Bypasses probate entirely, saving time and money.
• Keeps your affairs private—not part of any public record.
• Offers greater control, like setting conditions (e.g., a child gets their inheritance at age 30, not 18).
  
  

This makes trusts a better choice for people who want a smoother, more discreet transfer of assets.

Wills can name guardians for minor children

One thing only a will can do: name a guardian for your minor children. If something happens to you, this is the legal way to make your wishes known about who should raise your kids.

Without this in place, the court will decide—and it may not be who you would have chosen.

Trusts can manage assets over time—great for long-term planning

Unlike a will, which gives out assets in one go, a trust can hold and manage property over time. For example:

• If you want to leave money for a child but don't want them to have it all at once.
• If a beneficiary has special needs or struggles with finances.
• If you want to provide income over time instead of a lump sum.
  
  

With a trust, you stay in control—even after you're gone.

A good estate plan often includes both, and we're here to help you decide what makes sense for your unique situation.

Understanding the Probate Process in NYC

Probate is the legal process of settling a deceased person's estate. It involves proving the will (if there is one), paying debts and taxes, and distributing what's left to the right people.

But here's the thing: probate in New York can be slow, expensive, and stressful—especially if there are family disagreements, missing documents, or tax issues. That's why working with an experienced estate planning lawyer in NYC, like our team of professionals here at McAdoo Estate Planning, is so important.

We help clients:

• Navigate the court system smoothly.
• Avoid unnecessary delays and complications.
• Explore ways to avoid probate altogether, when possible.

…And more! You can contact us today to schedule a consultation to see exactly what service would fit for you.

Power of Attorney & Healthcare Directives: Planning for the Unexpected

Estate planning isn't just about after you're gone—it's also about making sure someone can help manage your affairs if you ever become unable to do so yourself.

That's where Power of Attorney (POA) and Healthcare Directives come in:

• A Financial POA allows someone you trust to manage your finances if you can't.
• A Healthcare Proxy or Directive lets you choose who can make medical decisions on your behalf—and ensures your wishes are followed.
  
  

These documents protect your dignity, your wishes, and your loved ones from having to guess during tough moments.

Minimizing Estate Taxes in New York

Yes, New York has its own estate tax—and if your estate is large enough, it could mean a hefty bill. But with smart planning, you can legally reduce those tax burdens and leave more to your loved ones.

We help clients with strategies like:

• Setting up irrevocable trusts.
• Making strategic lifetime gifts.
• Using charitable giving to their advantage.
  
  

Protecting Your Assets: Not Just for the Ultra-Wealthy

Even modest estates can be at risk from lawsuits, creditors, taxes, or the high cost of long-term care. Asset protection isn't just for the rich—it's for anyone who wants to make sure their life's work isn't lost to unexpected claims.

Some tools we use:

• Irrevocable trusts for asset shielding.
• Family Limited Partnerships for business owners.
• Life insurance strategies for financial flexibility.
  
  

Your estate plan should protect your assets now and in the future—and that's exactly what we help with.

Special Needs & Elder Law Planning

Caring for an aging parent or a loved one with special needs? Estate planning becomes even more important. We help with:

• Special needs trusts, that beneficiaries to remain eligible for important benefits.
• Medicaid planning to help protect assets from nursing home costs.
• Long-term care strategies that prioritize both dignity and financial security.

Choosing the Right Estate Planning Lawyer in NYC

When it comes to estate planning, you're not just hiring a lawyer—you're choosing someone to guide you through deeply personal, important decisions.

Look for someone who:

• Truly listens to your concerns.
• Has deep experience with New York estate law.
• Offers a personalized, approachable experience—not just a cookie-cutter template.
  
  

At McAdoo Estate Planning, we pride ourselves on being that kind of legal partner. Contact us today to find out for yourself.

Common Mistakes to Avoid

Even the best intentions can fall flat if your estate plan isn't kept up to date. Some pitfalls we see often:

• Not updating wills and trusts after major life changes (like marriage, divorce, or having kids).
• Forgetting to name or update powers of attorney.
• Overlooking digital assets (like online accounts or cryptocurrency).
• Leaving loved ones to sort things out without clear instructions.
  
  

We help our clients revisit and revise their plans as life evolves—because good planning is ongoing.

FAQs About Estate Planning in New York

Do I need an attorney to create an estate plan?

Technically, no. But DIY documents can lead to legal trouble or missed protections. An experienced attorney ensures everything is valid, complete, and personalized.

When should I start on an estate plan?

As soon as you have assets, children, or health concerns. In other words—now is a great time.

Is estate planning only about wills and trusts?

Nope. It also includes healthcare directives, power of attorney, tax planning, and asset protection.

When should I update my estate plan?

After any major life event: marriage, divorce, new child, death in the family, inheritance, or law changes.

How much does estate planning cost in New York?

It varies based on your needs. At McAdoo Estate Planning, we're transparent and upfront—no surprises.

What are the 7 steps in the estate planning process?

1. Assess your assets
2. Identify your goals
3. Choose your beneficiaries
4. Draft wills and/or trusts
5. Set up power of attorney and healthcare directives
6. Review tax implications
7. Keep everything updated
   
   

Is estate planning worth it?

Absolutely. It protects your loved ones, your assets, and your legacy.

What are the disadvantages of estate planning?

There's really only one: if it's not done right or kept up to date, it can cause more confusion than it prevents.

What happens if you don't do estate planning?

The state decides what happens to your assets, and that process can be slow, expensive, and not what you wanted.

Let's Make a Plan That Fits You

At McAdoo Estate Planning LLC, we're not just here for documents—we're here for you. Whether you need a will, a trust, asset protection, or a complete plan made for your life, we're ready to help.

Contact us today to schedule your free consultation and see how we can help you!