When planning for the future, you cannot overlook the myriad tax considerations. Virtually every estate planning decision has tax consequences. Any time that we create an elder law, estate or special needs plan, tax considerations regarding estate, capital gains and income taxes are paramount.
Proper estate and gift tax planning can be quite complex. And, the Tax Cut and Jobs Act (TCJA) signed by President Trump on December 22, 2017, adds to the complexity but also provides unprecedented estate and gift tax planning opportunities. It is crucial for wealthier families to take advantage of these and other opportunities and plan accordingly, especially because the estate and gift tax rate remains at 40% under the TCJA. And, to add insult to injury, New York State has its own estate tax which can add up to an additional 16% tax.
When you reach out to us for estate, elder law and special needs planning advice, we will always consider the tax consequences and implications of any plan that will be created for you.
We are a member of the national ElderCare Matters Alliance, a top nationwide directory for senior care services. Our firm provides the best and most creative legal services available coupled with a genuine respect for our clients. This has earned the firm a national reputation, and recognition of top ratings by Avvo, Preeminent ratings by Martindale Hubbell and our inclusion in Super Lawyers and Best Lawyers.
There is no substitute for a law firm that can provide a respected, holistic, and creative approach to tax planning for your family.
Fax: (516) 466-2219
Great Neck - 60 Cutter Mill Rd Ste 507, Great Neck, NY 11021
Manhattan - 7 Pennsylvania Plaza Ste 1620, Manhattan, NY 10001
Queens - 80-02 Kew Gardens Rd Ste 307, Kew Gardens, NY 11415
Brooklyn - 16 Court Street Ste 1800, Brooklyn, NY 11241
Long Island - 466 Central Avenue, Cedarhurst, NY 11516