When you are beginning the process of planning your estate in New York, one of the issues that you need to pay close attention to is the taxes, both federal and state. Your inheritors will pay an extremely high price if you don’t get an attorney who has knowledge and experience in this type of situation.
Minimizing the tax consequence will help accomplish what you want to happen when you are gone. If you put in place the right documentation and plan well, you can make sure that your children or charities that you want to gift, receive a larger share than they would have if you simply left a will.
Federal law allows for an exemption from estate taxes up to five million dollars. Assets and property can actually add up very quickly. You would be surprised, once you put the price of your house and property on a spreadsheet and add up that total, how much you actually have.
No one wants to pay a penny more in taxes than they are required to by law. Getting the lawyers at the Weinstein and Randisi Law Office involved can give you not only a wealth of knowledge, but peace of mind that you are doing the right thing by your children. We will work as efficiently as possible and will use our 50 years of legal experience on your behalf.
You will be kept fully informed and every step will be outlined and approved by you. Wills, trusts, and setting up a complete estate plan are all subjects that you may want to ask about. We will walk you through this process and assist you in your estate plan to avoid being over-taxed.
