Estate Tax in New York

Estate taxes are assessed upon  a death. These taxes are paid on money and property, which in many cases was already taxed during the course of the owner's life.  When taxes are assessed on an estate, it can be detrimental to the integrity and the value of the estate.  If someone inherits a family business or farm, often a lot of the inheritance is tied up in the land or business assets. There may not be liquid cash available to pay the tax and either a loan may need to be taken out or assets …