In 2013 the estate tax exclusion is $5.25 million. You have to understand the fact that this figure includes the value of your home, so right off the bat you are going to be left... Read more »
The word “portable” is defined as “Able to be easily carried or moved.” In estate planning the term has been borrowed to describe transferring the estate tax exclusion that was afforded to a deceased individual... Read more »
The esteemed art dealer Ileana Sonnabend passed away in 2007. At that time she was in possession of an art collection valued at around $1 billion. When you consult with a local Long Island estate... Read more »
It is wise to look at your financial situation in a long-term and holistic manner. One thing leads to another, and there are different expenses that you are going to face as you reach different... Read more »
Every year on New Year’s Eve people anxiously await the countdown. This year we had another countdown as the lawmakers in Washington tried to come up with a budget compromise before 2012 came to a... Read more »
The final piece of information that was not yet known immediately after the passage of the new budget deal has been released by the Internal Revenue Service. The exact amount of the estate tax exclusion... Read more »
At the end of this year there are going to be changes to the tax laws implemented that are very relevant to anyone who is concerned about wealth preservation. Back in December of 2010 a... Read more »
If your resources exceed the estate tax exclusion amount you are going to have consult with a Smithtown estate planning attorney to take steps that provide you with estate tax efficiency. It is important to... Read more »
Estate planning lawyers often speak about the estate tax, but when you live in the state of New York you should make the word “tax” plural. Yes, in addition to being subject to the federal... Read more »
Giving is not as simple as it may seem on the surface. You have to understand a bit about taxes if you want to plan ahead for the future intelligently. We have what is called... Read more »
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