When Deathbed Gifts Cause Estate Litigation
Jul 09, 2021
A common issue that arises during the administration of an estate concerns assets that were transferred close to death. These transfers can be in the form of gifts or the creation of a joint tenancy o...
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When is a Family Tree Affidavit Necessary?
May 28, 2021
A family tree affidavit is an affidavit executed by a disinterested person to prove who a decedent’s distributees are. Who is Considered Disinterested? To be considered disinterested, the person must ...
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It Pays to be Married: an Explanation of the Unlimited Marital Deduction and Portability
Apr 23, 2021
It pays to tie the knot, at least according to the IRS. The unlimited marital deduction is a provision in the U.S. Estate and Gift Tax Law that allows individuals to transfer an unrestricted amount of...
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When to File an Estate Tax Return When Your Spouse Passes Away
Mar 17, 2021
Even if someone passes away with an estate below the federal estate tax exemption amount of $11.7 million dollars, if married, the estate should consider filing an estate tax return to capture the dec...
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Why Does a House Have to be Probated if it Passes Automatically to Heirs Upon Death of Sole Owner?
Feb 18, 2021
Under Article 19 of the New York Surrogate’s Court Procedure Act, real property vests in the decedent’s heirs or legatees immediately as owners date of death. So why would someone have to go through p...
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Don’t Fall over the Estate Tax Cliff
Jan 13, 2021
New York State has an estate tax "cliff", which means that if an estate exceeds 105% of the New York estate tax exemption then the estate will receive absolutely no exemption from New York estate taxe...
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Estate and Gift Tax Update for 2021
Dec 02, 2020
Most taxpayers will never pay a federal estate tax under the current Act. If the federal estate tax exemption is reduced to $3.5 million, many more estates would be subject to a federal estate tax, es...
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How to Object to a Will
Nov 16, 2020
In order for a person to contest a last will and testament ("will") in New York, he or she must have legal grounds. This means a reason based in the law that the will is invalid and should not be admi...
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Why an Attorney Must Account
Jul 10, 2020
Q: I am the Executor of my mom’s estate and am getting ready to distribute the assets. I was just going to divide the money equally between myself and my siblings. Is that a good idea? Duties as an Ex...
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Economic Impact Payments Issued to Deceased Taxpayers
May 08, 2020
Millions of Americans have already received their Economic Impact Payments (EIP) authorized by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The Internal Revenue Service (IRS) co...
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