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The Bank Secrecy Act requires taxpayers to report foreign bank accounts, brokerage accounts and mutual funds, to the Treasury Department....

Original wills should be kept in a secure, fireproof location and your nominated executor should be informed of the documents’...

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...

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...

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...

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...

Right of Election for the Surviving Spouse in New York Probate

ABATEMENT Cutting back certain gifts under a will when it's necessary to meet expenses, pay taxes, satisfy debts or take care of other...

The federal estate tax is based upon the decedent's "gross estate." While the term "gross estate" refers primarily to the property which...

In general terms, Internal Revenue Code Section ("I.R.C. §") 2036 requires the inclusion in the gross estate of property which the ...

In order to elect portability of the decedent's unused exclusion amount (deceased spousal unused exclusion (DSUE) amount) for the benefit...

A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of your minor children...

A trust is a device for the management of property where one person, the grantor (sometimes called the settler, trustor or trust maker),...

A testamentary trust is a trust contained in a will.

The following actions are being implemented by the New York County Surrogate's Court effective April 13, 2020.

Internal Revenue Code Section 6166(a)(1) provides that an executor may elect to pay all or a portion of the estate tax attributable to a...

New York Governor Andrew Cuomo has issued Executive Order 202.7, which temporarily suspends the rule requiring physical appearance before...

Four categories of taxpayers are potentially taxed on trust income.

Though seemingly an unusual event, disclaimers are actually quite common, for a variety of reasons.

The decedent and their estate are separate taxable entities.