Section 1502 of New York Surrogate’s Court Procedure Act deals with the appointment of trustees for trusts and says that the court may appoint a...

Pay taxes for gift money?

Section 102 of the IRC states that gross income does not include property received as a gift, but income produced from the gift is. While the IRC...

Am I eligible to receive anything from my fathers estate after his death

Since your father died without a will, his property passes under the intestacy laws of the state. In your situation, EPTL 4-1.1 states that since...

How is an estate divided in new York when the decedent's siblings are deceased

Your uncle’s estate would pass under the intestacy laws of the state which are found in EPTL 4-1.1. This section states that if a decedent is...

I am administering my brother's estate and have a question about non-probate and probate assets

Probate is the process of establishing the validity of a will, which must occur prior to assets being distributed to the will’s beneficiaries....

How do you handle debt that is owed by a deceased person?

Generally, if you were not obligated to repay the debt yourself in any way, the debt will become that of your mother’s estate. This means that it...

What is the difference between a revocable trust and a will?

The determination of which choice is right for your situation depends on your specific facts. Both alternatives allow you to determine who is to...

Will I be considered a NYC Resident for Tax Purposes

NY Tax Law § 605(b)(1)(B) defines an individual who is not domiciled in the state as a resident for tax purposes if the individual maintains a...

Property taxes themselves can’t be appealed, but the property’s assessment can be. The taxpayer will have to prove that the assessed value is...

How does the "amount of donation" affect the tax return? Does it affect anything if you donated just a few hundred dollars?

Taxpayers have a choice between deductions they are allowed for their tax returns. A taxpayer can choose to use the standard deduction which is a...