Articles

The IRS recently announced the updates to the federal estate and gift tax rates for 2016.  Under federal law, the rates are tied to inflation and are reviewed annually for changes.  

On April 1, 2014, Governor Cuomo signed the New York Executive Budget for 2014-2015.

An important part of estate planning is reviewing beneficiary designations.  It is important to review these to ensure that they match your overall goals and intentions. 

The IRS announced the 2015 Federal Estate Tax exemption is increasing $90,000 to $5.43 million per person.

A trust is a written arrangement by which one person (trustee) holds property for the benefit of another person or persons (beneficiary).

Many people think that because they do not have one million dollars in a bank account that they should not be concerned with New York State's estate tax.  However, it is important to know what is included in an estate for estate tax purposes.