The Significance of Portability in Estate Tax Planning in New York: Leveraging the Deceased Spousal Unused Exclusion (DSUE) to Safeguard Your Family’s Wealth
Effective estate tax planning aims to minimize the tax burden on your heirs upon your passing. In New York, both state and federal estate taxes may apply, making it crucial to employ strategies that can mitigate these taxes. One such strategy is “portability,” which enables a surviving spouse to utilize any remaining portion of their deceased partner’s federal estate tax exemption. Understanding portability and maximizing it’s advantages is essential for effective estate tax planning in New York. At Morgan Legal Group, serving clients in new York City and beyond, we offer expert advice on portability and othre estate tax planning techniques to help our clients safeguard their assets and ensure their family’s financial security. This complete guide delves into the key aspects of portability in New York, shedding light on its functionality, benefits, and integration into an overall estate plan.Thoughtful implementation of these strategies can result in substantial tax savings.
Exploring Portability: Unpacking the Deceased Spousal Unused Exclusion (DSUE)
Portability allows a surviving spouse to
