Robert AdlerJan 15Common Legal Terms Relating To Wills And IntestacyABATEMENT Cutting back certain gifts under a will when it's necessary to meet expenses, pay taxes, satisfy debts or take care of other...
Robert AdlerJan 5What Assets Are Subject to Federal Estate Tax?The federal estate tax is based upon the decedent's "gross estate." While the term "gross estate" refers primarily to the property which...
Robert AdlerJan 5Property Transferred With Retained Life Estate - I.R.C. §2036In general terms, Internal Revenue Code Section ("I.R.C. §") 2036 requires the inclusion in the gross estate of property which the ...
Robert AdlerJan 1Portability Election - Deceased Spousal Unused Exclusion (DSUE) AmountIn order to elect portability of the decedent's unused exclusion amount (deceased spousal unused exclusion (DSUE) amount) for the benefit...
Robert AdlerDec 19, 2020Wills and Estate PlanningA will is a legal document that sets forth your wishes regarding the distribution of your property and the care of your minor children...
Robert AdlerDec 12, 2020Trustee DutiesA trust is a device for the management of property where one person, the grantor (sometimes called the settler, trustor or trust maker),...
Robert AdlerApr 17, 2020What is a Testamentary Trust?A testamentary trust is a trust contained in a will.
Robert AdlerApr 12, 2020New York County Surrogate's Court UpdateThe following actions are being implemented by the New York County Surrogate's Court effective April 13, 2020.
Robert AdlerMar 29, 2020Paying Estate Tax In InstallmentsInternal 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...
Robert AdlerMar 27, 2020COVID-19 Executive Order Authorizes Virtual Notarization in New York StateNew York Governor Andrew Cuomo has issued Executive Order 202.7, which temporarily suspends the rule requiring physical appearance before...
Robert AdlerAug 4, 2019Federal Income Tax and TrustsFour categories of taxpayers are potentially taxed on trust income.
Robert AdlerAug 1, 2019What is a Disclaimer?Though seemingly an unusual event, disclaimers are actually quite common, for a variety of reasons.
Robert AdlerJul 25, 2019What is the Estate Income Tax Return - IRS Form 1041The decedent and their estate are separate taxable entities.
Robert AdlerJun 29, 2019New York Estate Tax Claw-back of Gifts Made within Three Years of Death The purpose of the claw-back is to prevent the making of gifts, shortly before death, as a device to reduce New York estate tax.
Robert AdlerJun 16, 2019The Executor Must Locate Estate AssetsIt is the Executor's responsibility to locate all of the decedent's assets, pay the taxes on them, if any, and distribute them to the...
Robert AdlerJun 16, 2019What is the Surrogate's Court?The Surrogate's Court is the court in New York where all matters relating to Wills and Trusts are determined. The Surrogate is the title...
Robert AdlerMar 1, 2019What is Income In Respect of a Decedent?Income in respect of a decedent does not take astepped-up basis in the hands of the recipient.
