This article reprint was published in the January 17, 2017 edition of the New York Law Journal Trusts & Estates section and provides an overview of new legislation, important regulatory guidance, and instructive case law, including:

  • The estate tax cliff, disparity between New York and federal exclusion amounts, and lack of portability make planning critical.
  • A reminder of the importance of selecting the right fiduciary.
  • Why disregarded entities owned by nonresidents will not shield real property from New York estate tax.

Please see important disclosures at the end of the article.

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