Wills, Trusts & Estates Prof Blog

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

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Friday, July 11, 2014

New York Estate Tax Changes

Tax CutNew York has enacted changes to their estate tax. The changes include increasing exclusion amount over the next 4 years until the basic exclusion in New York will equal the federal estate and gift tax credit. While the benefits of the changes have limitations, this is a huge improvement for New York’s high state estate tax, which the state feared was driving wealthy residents to other states.

See Anthony J. Enea, Column: Some Estate Tax Relief Arrives for New Yorkers, West Fair, July 8, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/07/new-york-estate-tax-changes.html

Estate Planning - Generally, Estate Tax, New Legislation | Permalink

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