Prior to the SECURE Act, it was always important to ensure that a qualifying beneficiary designation was made to IRAs and other qualified retirement accounts. This could be an individual or a trust with the appropriate provisions that would allow the…
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…
The Right of Election of a surviving spouse of a New York decedent has been in existence since September 1, 1930. Prior to the enactment of New York’s Right of Election law, a surviving spouse possessed outdated dower and curtesy…
Many New Yorkers own real property in multiple states. It is common for a New York resident to own real property, such as a vacation home in a warmer location. In this situation, it is important to speak with a…