New York Elder Law Attorney

Read Steven Melnik's Best Selling Book "Tax Relief and Resolution"

Tax Relief and Resolution Amazon #1 Best Seller
Click here to find out about the Benefits of Having a Melnik Trust™
New York Elder Law Lawyer Firm Overview Attorney Profiles News / Press Seminars Client Testimonials In the Community Contact Us
Instantly Connect With Our Office Email Us Now Concerned about Medicaid Fraud? Watch our Videos
Areas of Practice
Medicaid
Advance Directives
Application for Nursing Home Benefits
Asset Protection
Charitable Planning
Community Medicaid vs. Long Term Care
Competency and Capacity Designations
Disability
Estate Recovery
Excess Income Trusts
Income Test
Inheritance and Estate Tax
Insurance and Financial Planning
Lawsuit Settlements
Life Care Planning
Long Term Care
Look Back Periods
Nursing Home Law and Litigation
Nursing Home & Assisted Living Facility Residents’ Rights
Patient Advocates
Pension Planning
Retirement Planning
Rules for Eligibility
Social Security
Special Needs Trusts
Supplemental Needs Trusts
Transfer Penalties
Veterans Aid & Benefits
Wills and Trusts
Russian

New York Inheritance and Estate Tax Lawyer

What You May Not Know About Estate Taxes

When a person dies, the state or federal government may impose a tax on his or her estate. This is referred to as estate tax. Inheritance tax is similar but is imposed based upon the amount of money that an heir receives from the estate. New York does not impose an inheritance tax. The state does, however, impose estate taxes in certain situations.

Our elder law attorney at Melnik Law Group, PLLC can help if you are a beneficiary or are considering your options in developing an estate plan. It is important to get more information about how your inheritance or a loved one's estate will be affected by taxes. This issue should also be considered if you are working on establishing a life care plan that protects your assets and ensures your estate is distributed as you see fit. There may be ways to avoid paying estate taxes by establishing a trust or by dividing your assets to ensure the amount received is lower than the amount that allows for an estate tax exemption.

New York Estate Tax Attorney

You may need to file a New York estate tax return in certain situations:

  • If the decedent lived in New York at the time of his or her death and the total estate exceeds $1 million;
  • If the decedent did not live in New York at the time of death, but the estate includes property located in New York and the estate exceeds $1 million; or
  • If the decedent was not a resident or citizen of the U.S. but the estate includes property located in New York and the estate is required to file a federal tax return.

Find out more about planning to address estate taxes and what can be done if you are inheriting money that may be affected by state or federal taxes. Contact the legal team at our firm today or email us and we will be more than happy to address any questions or concerns that you may have..

Rockefeller Center 7th Floor 1230 Ave. of the Americas New York, NY 10020
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

Melnik Law Group, PLLC - New York Elder Law Attorney
Located at One Rockefeller Plaza, 10th Floor New York, NY 10020 . View Map
Phone: (800) 517-5110
Website: