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Reducing Your Estate Tax Burden Through Careful Planning

The last thing you want for yourself or a loved one is for unexpected taxes to decimate an estate. But estate taxes create substantial problems for thousands of families and individuals annually. Whether you are an heir or are in the process of creating an estate plan, it is crucial that you understand the impact of estate taxes.

At Korsinsky & Klein LLP, our Manhattan estate planning lawyers are intimately familiar with the tricky nuances of estate taxes. We factor tax planning into our comprehensive estate planning services. You can depend on us to address even the most complicated estate tax issues with grace and efficiency.

The Advantage Of Choosing A Firm With A CPA On Staff

One of our partners of Korsinsky & Klein LLP is an experienced certified public accountant (CPA). He will use his knowledge of your state’s tax laws to propose tax-saving strategies that can help protect your assets and your family. To begin protecting your estate, call our office today at 212-257-0199.

We Address Both State And Federal Estate Taxes

When a person dies, the state and federal governments impose taxes on that individual’s estate. These are referred to as estate taxes. Depending on the size of the estate and the circumstances surrounding the estate, an estate tax could seriously impact the amount that a beneficiary receives.

You may be required to file an estate tax return within nine months after the decedent’s date of death if you meet the following filing requirements in New York:

  • You are a resident of the state at the time of death.
  • The total of the federal gross estate, the federal adjusted taxable gifts and specific exemptions exceed approximately $6 million.
  • You are not a resident of New York but own property that is located in this state, and your estate includes real or tangible personal property that exceeds approximately $6 million.

We are adept at creating estate plans that include tax strategies for wealth transfer and for the protection of your lifetime of investments. Our skilled attorneys will counsel and advise you through your estate planning decisions to minimize the impact of taxation. From asset protection to other general matters involving Elder Law and estate tax issues, our firm will offer effective counseling that can help your family avoid unnecessary litigation or probate disputes.

Start Planning Your Estate Tax Strategy Today

Strategic estate tax planning requires precise knowledge and experience. We recognize all tax laws and can assist you in obtaining a favorable outcome for your estate tax concerns. Our legal team will provide guidance in organizing your tax strategy so that your surviving family members will enjoy the full benefits of acquiring your real estate property or other assets. We know what is required to navigate the complexities of estate taxes, and we are fully equipped to help our clients achieve a satisfactory outcome.

If you wish to learn more about how our skilled legal team and professional CPA can be of assistance to you, contact us online or call 212-257-0199. We have convenient offices in New York City and New Jersey.