Legal Question in Wills and Trusts in New York

My house was left to me through my late partners will. We were together for 14 yrs. We, (he) bought the house 12yrs. ago. the mortgage on the house is $530,000. and a HELOC of $50,000. the executors of the estate are the estate lawyer and my late partners brother. The Estate is holding me responsible to pay the estate, my portion of the estate tax, which is $180,000. By adding that to the refinancing sum of the mortgage, which I am trying to acquire, the cost is heading to be out of my range. The house is appraised at !.7mil. My question is, Could I have the estate pay the estate tax so I do not run the risk of not qualifying for my mortgage?

thank you.

Randy W.


Asked on 3/26/10, 9:28 pm

1 Answer from Attorneys
Norman Nadel Norman Nadel, Esq.

It all depends on what your partner intended, as set forth in the Will. Some Wills remove the estate tax burden from the recipient of a specific, whereas, other Wills place the estate tax on the recipient of a specific gift.

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Answered on 4/01/10, 6:02 am


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