Legal Question in Wills and Trusts in New York

My mom recently passed and left me, a single mom, out of work, her house (worth about $300,000.00). Do I have to pay NYS estate or heritance taxes?


Asked on 2/14/11, 6:21 am

3 Answers from Attorneys
Norman Nadel Norman Nadel, Esq.

If that is all there is, no tax is payable.

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Answered on 2/14/11, 7:17 am
Rudolf Karvay Berkman, Henoch, Peterson, Peddy & Fenchel, P.C.

Generally, a New York estate is not taxable unless its value equals or exceeds $1,000,000.

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Answered on 2/14/11, 8:18 am
Walter LeVine Walter D. LeVine, Esq.

I agree with the other authors. You should record a new Deed showing you as the owner, just to make things clear. The Executor can prepare the Deed.

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Answered on 2/14/11, 11:06 am


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