Legal Question in Wills and Trusts in New York
Ex-wife Adminstrator of Will
mom got a lawyer for dad on his death bed and now that he is gone she is getting all. She now wants to turn a potion over to Children.How does she do that?
Asked on 3/02/09, 3:53 pm
2 Answers from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: Ex-wife Adminstrator of Will
She can gift over a portion to the children. However, remember that gift tax is presently any amount over $13,000 per person.
Mike.
Answered on 3/02/09, 3:57 pm
Rudolf Karvay
Berkman, Henoch, Peterson, Peddy & Fenchel, P.C.
Re: Ex-wife Adminstrator of Will
In order to avoid tax issues, your mother may file a "Renunciation and Disclaimer of Interests in Estate." Using this form, she may disclaim a portion of her inheritance. The form must be filed within nine months form the date of death. If you want to explore this further, I advise you to discuss the matter with an attorney.
Answered on 3/02/09, 4:21 pm
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