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Changes to New York State Estate and Gift Tax Regimes

On March 31, 2014, Governor Andrew Cuomo signed legislation that significantly alters the New York State estate and gift tax laws – the first change since 1998. Under the old law, an estate was subject to NYS estate tax if the total gross estate exceeded $1,000,000. Under federal law, an estate is subject to estate...

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What Is Includable In Your Estate?

For some of us, taxes may be owed even after death. Depending on the size of your estate, estate taxes, state and/or federal, may be due. To determine your potential estate tax liability, it is important to understand the assets that are considered part of your estate. • Real Property. Any real property that you...