Whether you recently received one or are planning for the future, understanding how to keep and manage your inheritance is crucial. America stands at the edge of the most dramatic shift in personal finance ever measured—a generational transfer of nearly…
Join Vincent J. Russo as he explains inheritance topics. Understand legal rights and financial strategies for your inheritance.
If you pass away in 2023 and the value of your estate exceeds the $6,580,000 basic exclusion amount by more than 5%, you will lose the exclusion benefit, and your entire estate will be subject to New York estate tax…
Before giving a gift to someone, think about what your intention is for the gift because there may be a better way to ensure your intentions while minimizing or eliminating any federal gift tax implications. Some transfers come with financial…
No one likes to think about their end of life, but you can’t avoid the inevitable. Estate planning helps you protect your family’s financial future and put your mind at ease. Having a solid plan in place can ensure your family…
Do I owe taxes on my inheritance? As qualified NY estate planning attorneys, this is a common inquiry from our clients. The short and sweet answer is that inheritances are not generally considered income for federal tax purposes. With that…
Grandparents in love with their grandchildren – I am one of them. Our Ruby and Jo are so precious. So, we will do whatever we can to make our grandchildren’s lives the best. Not good or better, but the best…