Back at the end of 2010 when the Estate Tax had disappeared for a brief moment in time, Congress and the President agreed on a new and improved version of the law that raised the Federal Estate tax exemption to $5,000,000 for each individual. However, in the combined wisdom of…
New York Estate Planning Lawyers are often asked by their clients about making gifts to family members or friends or charities. When considering a gift there are a number of items that should be part of a list of basic considerations. 1. It is important to identify the person to…
Estate settlement in New York, including Westchester and Suffolk counties, requires a consideration of many issues. A post in the New York Probate Lawyer Blog on December 6, 2011 talked about a number of estate tax issues that should be considered, including the current $5 million federal tax exemption and…
The Estate Tax continues to generate many articles and much analysis. As previously reported in the New York Probate Lawyer Blog, the changes in the Federal Estate Tax that occurred in December 2010 resulted in increasing the Federal estate tax exemption to $5 million dollars for 2010, 2011 and 2012.…
Market Watch recently published some estate tax tips for married couples. New York City estate planning attorneys have been dealing with the changes to the estate tax and gift tax limits since they were implemented late last year. As we reported in December on our New York Probate Lawyer Blog,…
The gift-tax cap could increase to $10 million — up from the current limit of $2 million — under the tax-cut bill Congress is debating this week, Bloomberg News reported. Those worried about estate taxes should consult an experienced probate attorney to establish a comprehensive New York estate plan. One…
Those focused on what the government might do with the estate tax next year are forgetting about the likelihood of an increase in the gift tax. Estate planning attorneys in New York City and elsewhere are helping clients disperse portions of their estate this year to take advantage of the…