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Tax Planning for New York Estates

The federal lifetime gift and estate exemption has been a hit with high net worth individuals. However, these individuals need to keep in mind that along with the federal estate […]

Spousal Lifetime Access Trusts

Steve and Madison have done well during their lifetime and accumulated a significant net worth. They have not done any estate planning over the years. However, due to a recent […]

New Year, More and Bigger Gifts

The new year is here, and it brings along some changes. Like some of you, I have decided to make a few changes. A part of my New Year’s resolutions, […]

Family members need money? Consider establishing a family bank

Your son comes to you requesting financial support. He is in the process of purchasing a home and is still short a few dollars after securing a mortgage with the […]

Considering or planning a move? You may want to consider moving your trust with you.

You and your spouse have decided that the both of you are done with the city life and now want a change of scenery. There is a town in another […]

Deemed Sales Proposal and the Elimination of the Step-up Basis

Step-up basis has been a mainstay in estate planning for more than 100 years. Upon a decedent’s death, assets in his or her estate are generally eligible for an automatic […]

Who Ultimately Pays for Your Estate Taxes?

“Wow! My uncle left me $100,000 in his will. Wait, what?! I only received $60,000. What happened to the difference? Did my cousins steal some of my inheritance?” This might […]

Is There a Chance That My Assets Will Be Lost After My Death?

Have you ever found money in your pockets that you have forgotten about? I know I have on multiple occasions. Forgetting about an asset is a common occurrence for people, […]

Thinking about leaving your wealth behind? Well, think again!

With Joe Biden as president and the Democrats in control of both chambers of Congress, we should expect changes coming to the federal tax law. President Biden has promised a […]