Estate Planning and Trusts
A trust is a device for controlling how assets are held and distributed. Trusts can be revocable or irrevocable. A trust that is created...
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Robert Adler
- Jul 29
Estate Planning Flowcharts - Six Common Structures for Affluent Families
Thoughtful estate planning will protect your heirs and help minimize taxes. It's never too early to start planning, but it can be too late.
Robert Adler
- Jun 19
Deceased Spousal Unused Exclusion (DSUE) Amount -- Portability
Estates of decedents dying on or after January 1, 2011, may elect to transfer any unused estate tax exclusion amounts to the surviving...
Robert Adler
- May 6
Report of Foreign Bank and Financial Accounts (FBAR)
The Bank Secrecy Act requires taxpayers to report foreign bank accounts, brokerage accounts and mutual funds, to the Treasury Department....
Robert Adler
- Apr 18
How to Get a Death Certificate
A death certificate is an ofiicial legal document that records the date and location of a person's death. In some cases, you might need a...
Robert Adler
- Feb 15
What is the difference between carryover basis and a step-up in basis?
In planning for gifts of property, if the donor has a choice among more than one type of property to be transferred as the gift(s) (e.g.,...
Robert Adler
- Jan 16
The Safekeeping of Wills in New York State
Original wills should be kept in a secure, fireproof location and your nominated executor should be informed of the documents’...
Robert Adler
- Dec 27, 2021
Die without a will in New York? What happens?
If you die without a will in New York, your property will go to your next-of-kin under New York state intestate succession laws. Who gets...
Robert Adler
- Dec 25, 2021
Testate versus Intestate
If the individual who died (i.e., the "decedent") had a valid Will, the decedent is said to die testate. The executor named in the...
Robert Adler
- Dec 25, 2021
Forms of Real Estate Ownership
Ownership of real estate is determined by how title is held. Different kinds of ownership interests: Tenancy in Common Joint Tenants with...
Robert Adler
- Dec 25, 2021
New Regulations Update Life Expectancy Tables
The Internal Revenue Service has issured final regulations relating to the life expectancy and distribution period tables used to...
Robert Adler
- Dec 24, 2021
Unlimited Marital Deduction
A key element of the unified estate and gift tax system is the unlimited marital deduction. The estate and gift tax structure permits...
Robert Adler
- Oct 2, 2021
Taxation of Non-grantor Trusts
Non-grantor trusts, are separate taxpaying entities. Income taxes generated by the trust are paid for by the trust. The trust must file...
Robert Adler
- Sep 11, 2021
When is a Federal Gift Tax Return Required?
For federal gift tax purposes, the value of a gift of property is the fair market value of the property at the time of the gift. Where...
Robert Adler
- Sep 10, 2021
What is a Trustee?
What is a trust? A trust exists when one person (the trustee) holds title to property for the benefit of another person (the...
Robert Adler
- Sep 6, 2021
Same Sex Spouse and Estate Tax
For federal estate tax purposes, the terms “spouse,” “husband,” and “wife” includes individuals of the same sex who were lawfully married....
Robert Adler
- Sep 6, 2021
Federal Estate Tax Exemption Amounts
The Federal Estate Tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or...
Robert Adler
- Sep 5, 2021
Foreign Real Property Inherited by a US Citizen From a Nonresident Alien
A United States citizen who inherits foreign real property from a nonresident alien receives a stepped-up basis in such property under...
Robert Adler
- Aug 21, 2021
Registration of Charitable Trusts and Estates
The New York Attorney General's Charities Bureau protects the public interest in charitable gifts and bequests contained in wills and...
Robert Adler
- Aug 10, 2021
When Someone Dies in New York State
In New York State, the Surrogate's Court decides what happens to a person's property when that person dies. The Judge in Surrogate's...
Robert Adler
- Aug 10, 2021
Right of Election for the Surviving Spouse in New York Probate
Right of Election for the Surviving Spouse in New York Probate