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A trust is a device for controlling how assets are held and distributed. Trusts can be revocable or irrevocable. A trust that is created...

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.

Estates of decedents dying on or after January 1, 2011, may elect to transfer any unused estate tax exclusion amounts to the surviving...

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

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...

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.,...

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...

A key element of the unified estate and gift tax system is the unlimited marital deduction. The estate and gift tax structure permits...

Non-grantor trusts, are separate taxpaying entities. Income taxes generated by the trust are paid for by the trust. The trust must file...

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...

What is a trust? A trust exists when one person (the trustee) holds title to property for the benefit of another person (the...

For federal estate tax purposes, the terms “spouse,” “husband,” and “wife” includes individuals of the same sex who were lawfully married....

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...

A United States citizen who inherits foreign real property from a nonresident alien receives a stepped-up basis in such property under...

The New York Attorney General's Charities Bureau protects the public interest in charitable gifts and bequests contained in wills and...

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

You may have read or heard news about two bills recently introduced in the Senate that, if enacted, could have a significant impact on...