Trusts & Estates
In this Special Report: "New York's Latest Legislative Session: What Passed, What Didn't, What's Next," "Act Now, While the Giving Is Good," "Estate Administration and Domicile Issues Raised by Epstein's Suicide" and "Tidying Up Your Estate Plan (So Your Loved Ones Won't Have To)."
September 09, 2019 at 12:54 PM
2 minute read
It is instructive to review what passed before the June recess, what failed to pass and what lies ahead when the 2019-2020 session resumes in January 2020. Several changes were enacted as part of the 2019-20 Executive Budget (the Budget), signed by Gov. Andrew Cuomo on April 12, 2019.
Swift action that anticipates a pullback on estate tax relief could wind up saving millions of dollars for certain taxpayers.
While this case presents interesting issues about the above facts, the issues concerning estate attorneys may be of even more interest.
Chances are that your clients are among the millions now questioning whether each and every personal possession meets the "sparks joy" test in their lives. But chances are equally good that they haven't spent any time at all considering what will happen to their prized possessions if something happens to them.
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