The year 2010 in New York was notable for significant developments, and the emergence of significant quandaries, in the trusts and estates arena. In addition to important state legislative, judicial and administrative changes, when the federal estate and generation-skipping transfer tax regimes lapsed on Jan. 1, 2010, there was a significant trickle-down effect at the state level.

Since New York’s taxation regime is entwined with federal tax concepts, practitioners had to grapple with the impact of what happens when federal tax concepts disappear.

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