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In a significant development for New York trusts and estates, Governor James Collins signed a new bill into law on August 26, 2025, that will affect inheritance laws for residents in the state. The bill, known as the Trust and Estate Reform Act, aims to modernize and clarify existing laws surrounding wills, trusts, and estates.One of the key provisions of the Trust and Estate Reform Act is the introduction of electronic wills. Starting January 1, 2026, residents of New York will be able to create and execute wills electronically, a move that aims to make the process more accessible and efficient in the digital age. This change is expected to streamline the estate planning process and reduce the likelihood of disputes over the validity of wills.In addition to allowing for electronic wills, the Trust and Estate Reform Act also includes provisions aimed at updating the state's laws regarding trusts. One notable change is the introduction of directed trusts, which allow for greater flexibility in how trusts are managed and administered. This change gives settlors the ability to designate certain individuals or entities to make decisions regarding trust assets, rather than relying solely on a trustee.Furthermore, the Trust and Estate Reform Act includes updates to laws governing the distribution of assets in intestate estates. The new law allocates a larger share of an intestate estate to the surviving spouse, recognizing the evolving family structures and needs of modern society.The passage of the Trust and Estate Reform Act has been welcomed by estate planning professionals, who believe that the changes will make the process of creating and executing wills and trusts more efficient and effective. The new law is expected to bring New York in line with other states that have already modernized their trusts and estates laws.Overall, the Trust and Estate Reform Act represents a significant step forward in updating and clarifying New York's trusts and estates laws. Residents of the state are encouraged to familiarize themselves with the new provisions and consult with an estate planning attorney to ensure their wishes are properly reflected in their wills and trusts.