Our Estate Tax Services
We provide services related to estate taxes in Nassau County and Suffolk County. Our lawyers will show you where any possible taxes that be coming from and see how it can be avoided. There’s also the issue of having to pay two separate taxes in NY State like the federal and state taxes. These high rates of taxes can range for over a million and our high tax rates go to anything that the government can use it for.
When it comes to transferring an estate you need to show the court that you are a surviving spouse, then you won’t have to worry about these state taxes taking some deductions from your funds. Since you are the new owner of the estate, you are waived from any fees. Another thing to add is to the Will should be subject to change or codicil. These is when someone attempts to change a persons Will but should be watched by a doctor. Though if this happens, you would have to pay taxes unless your jointed with the spouse,
FAQ
1. What is an Estate Settlement?
An estate settlements is the process of a decedent’s estate being transferred to an assigned trustee or beneficiaries. There’s also planning of who obtains all these assets but expenses that go with it all.
2. How Often Should I Update My Estate Plan?
Your estate plan should be looked over every 5 years or so but may need adjustments if you’re involved in marriage, bear any children or filed for divorce. This is due to legal laws within the state and now who’s involved.
3. Who may be appointed to handle an estate proceeding?
In a will, it’s whoever the executor is, but if there is no will, a person who qualifies to be responsible will serve as an administrator. Then either executor or administrator will handle the estate proceeding.
4. Can I Create an Plan on My Own?
You are free to create your own plan but doing so would have you leave any important details and is a good chance that will happen because of certain law terms you need to bring up. So creating your own plan may be an invalid one.
5. How Often Should I Update My Estate Plan?
Your estate plan should be looked over every 5 years or so but may need adjustments if you’re involved in marriage, bear any children or filed for divorce. This is due to legal laws within the state and now who’s involved.
6. Can I Create an Plan on My Own?
You are free to create your own plan but doing so would have you leave any important details and is a good chance that will happen because of certain law terms you need to bring up. So creating your own plan may be an invalid one.
7. Can an irrevocable trust be amended?
One thing you can do by is to remove assets you’ve written within the trust. You will still have the trust on file but it’ll be one that is empty. There’s also booking an appointment with the court through a trustee since he or she is responsible for making any adjustments as well in the trust even if it’s irrevocable. As long as there’s a good reason for the modification.
8. Can I collect unemployment if I go to school?
To receive unemployment you need to document that you’re looking for work and enrolled in school to receive some benefits.
9. How long do you have to work to collect unemployment in NY?
According to the official ny.gov website, you need to be working for at least a month and in file at least $2,700 in wages.Your base period also needs to be higher than your quarter wages.
10. Should you avoid probate?
There’s an understanding when wanting to avoid a probate and it’s due to waiting a year for courts approval or even having the courts approval rather than your own. Both these things can pile more fees on top of the file the more complicated things get through many disagreements. Though most Wills or trusts are specific which already comes with it’s complications which is why it takes a while for the probate to process. It is necessary to use the probate because if you’re looking through the file rather than an attorney, you will be prone to mistakes and more fees that the attorney could of spotted. Upcoming mistakes can also cause the filing to be longer than it should. So you shouldn’t avoid any probates.
