Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Friday, December 20, 2013

New York Considering Changing Estate Tax

Liberty-Statue

A big change to the New York state estate tax is expected to be presented in Governor Andrew Cuomo’s executive budget due in mid-January.

Right now, New York exempts only $1 million from the estate tax.  The 2014 proposal would match next year’s federal exemption at $5.34 million.  This measure would give New Yorkers less of a reason to flee to Florida for retirement. 

See Ashlea Ebeling, Big Changes to New York’s Estate Tax on Agenda for 2014, Forbes, Dec. 13, 2013.

http://lawprofessors.typepad.com/trusts_estates_prof/2013/12/new-york-considering-changing-estate-tax.html

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