Mullen and Iannarone, P.C.
Serving the legal needs of corporations, individuals and
families of Suffolk County since 1972

Posts tagged "surviving spouse"

Estate planning tips for New York residents

New York residents who are in their 30s may benefit from will planning in regard to their financial future. Such an estate plan can include the distribution of assets such as personal property, life insurance and annuities. Residents of the state may wish to consider a few key suggestions before moving forward with such a process.

Including a bypass trust in estate plan

If a New York couple has a taxable estate that may exceed the amount of the exemption, one tool that they may use is a bypass trust. This estate planning tool helps to eliminate estate taxes for the first spouse who dies while also reducing the amount of estate taxes of the surviving spouse's estate.