The trustee could distribute earnings from the trust to your spouse throughout his or her life. These distributions would be subject to income taxes, but the estate tax would not be levied. Learn more about New York qualified domestic trust in this presentation.
Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
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Free Report: What Is a Qualified Residence Trust in New York
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