THE FACTS: After my mother’s death, my father met a woman, Mary, who was his partner for many years. They lived in my father’s house, which has a value in excess of $3 million. In his will my father left the house to Mary. He also named Mary as the beneficiary of his life insurance […]
November 11, 2016 – 12:00 pm
The Facts: I recently inherited a beachfront house that has been in my family for generations. Although it was quite modest when first built, the house has appreciated tremendously over the years. As a result of the inheritance, the value of my estate is now in excess of the estate tax exclusion amount. I do […]
It is that time of year when many people make vacation plans that involve flying or driving long distances or engaging in activities that are risker than their day to day activities. Whatever their vacation plans may include, being in a different environment, coupled with the risks associated with travel and the possibility that something […]
April 17, 2014 – 11:04 am
The Facts: I heard that the New York’s estate tax laws changed and that the value of an estate that can pass estate tax-free was increased. The Question: Is that true? If so, what is the current NYS estate tax exemption? The Answer: Fortunately for New Yorkers, the tax laws have changed and the tax […]
February 20, 2013 – 1:25 pm
This time of year I frequently hear from clients who made gifts to family members asking if they need to file a gift tax return. Gifting can play an important role in an estate plan as a means to avoid estate tax. However, there are limits as to the value of gifts that can pass […]
January 8, 2013 – 2:03 pm
The Facts: Some people who have been named as executors told me their jobs were quite simple while others complained about all the time and effort it takes to administer an estate. The Question: What are the responsibilities of an executor and why does the complexity of the process vary so much? The Answer: The […]
