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Jun 1, 2011 12:00 PM
Consider State Tax Regimes, Too
Pay New York a little to avoid paying the United States a lot
Last summer, one of our clients in his mid-forties died unexpectedly, before we were able to finish helping him with his wealth transfer planning. He was a New York resident and was survived by his wife and two young children.
The decedent's combined family assets had a value of approximately $17.5 million. Most of the assets were titled in the decedent's name. The assets were comprised predominately of a single, highly appreciated equity position, homes and rental real estate holdings. Several of the properties had mortgages in excess of fair market value. The decedent had substantial passive loss carry-forwards associated with the rental properties.
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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