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Why We Need Estate Tax Attorneys

The laws and regulations relating to Estate and Gift Taxes can be very complicated. It is strongly recommend that a qualified New York City estate tax attorney be consulted who has considerable experience in this field, especially if an estate is large.

An estate tax attorney well versed in estate tax law can answer questions such as: what is the federal estate tax's relationship to the federal gift tax? Have any estate and gift tax changes been made recently and what were those changes? What assets are counted to determine if my estate is taxable? How is the property in my estate valued for federal estate taxes? What is considered the "right" value in appraising property for federal estate taxes. When does the estate tax kick in? What is the unified tax credit all about? Can I avoid the federal estate tax by leaving everything to my spouse?

The applicability of the estate tax laws differ among the various states and also between the states and the Federal system, as an estate tax attorney in New York City can explain.  Take for example a concept known as "portability".  Under this concept which applies to Federal estate tax, a surviving spouse can obtain the use of the tax exclusion in the amount that was not used by a pre-deceased spouse.  Assume that each spouse had a Federal estate tax exclusion amount of $5,000,000.  If the first spouse to die did not use any of this exclusion to reduce estate taxes, then the full amount could be transferred to the surviving spouse.  This would give the surviving spouse a $10 million exclusion. Unfortunately, at present, New York State does not allow any portability regarding the New York State estate tax.

Therefore, due to the various intricacies of the tax laws, it is a good idea to consult with someone who is experienced in this field.  Also, once a person dies and an executor or fiduciary is appointed to handle estate affairs, such fiduciary can become personally responsible if the estate tax issues are not professionally dealt with.  As a New York City estate tax lawyer, I have presented many executors and administrators settle an estate and have prepared estate tax returns so that taxes are properly paid.

Since a payment on account of estate taxes is due to be made within 9 months of a decedent's death, it is important to have a fiduciary appointed for an estate so that asset value estimates can be made.  Even if the probate or administration process is delayed due to estate litigation a Preliminary Executor or Temporary Administrator can be appointed to protect the estate and file the needed taxes.

Regardless of the size of an estate, most adults — young and old — and their families benefit greatly from having a well-prepared estate plan consisting of documents such as a: Last Will, Health Care Proxy, Power of Attorney and Living Will. I have many years of experience working with and advising clients in the creation and implementation of plans that effectively express the clients’ personal desires regarding the disposition and protection of assets while providing potential tax advantages and security for family and beneficiaries.

To get in touch with me by phone, call now at (212) 355-2575. You can also e-mail for a free appointment with an estate tax lawyer in New York City.

Client Reviews
★★★★★
I am very grateful to Mr. Jules Martin Haas attorney of law in New York. I am from Buenos Aires Argentina. He managed with expertise a very difficult situation. of a complicate heritage from my aunt Anna Grodzka that lived and died a very long time ago in New York. I recommend him not only for his extraordinary knowledge but also for his kindness. Irma CW Peusner
★★★★★
I found Mr. Haas after being misguided by a former attorney. Mr. Jules Haas took our case which involved an estate/trust dispute. What initially seemed like an impossible and overwhelming legal fight was now in the hands of someone who had the integrity and legal expertise to win our case. Mr Haas' attention to detail and his expert knowledge base, skillfully and successfully guided us through an intricate legal process. I am very thankful and grateful to Mr. Jules Haas for representing our interest and ultimately winning. Bringing about a peace of mind we needed. Thank You Devida Nedd
★★★★★
I was in need of a guardianship attorney and I hired the services of Jules M. Haas' Law firm. The service of counselor Haas and his staff, was very profesional and the case was handled in a timely matter. I would strongly recommend his services Angel Guevara
★★★★★
I strongly recommend Jules Haas. I have worked with him for two years and he has provided so much support and followed through with everything he promised he would do. His support staff is just as helpful! We had an interesting case and he helped to solve each part of it legally and was very thorough. Thank you for everything you have done to finalize our families estate Robyn Stafford
★★★★★
Jules Haas helped me with managing the process in probate court for my father's estate through to its completion upon the sale of my father's house. He was knowledgeable, efficient, and effective in submitting documentation to the probate court, explaining procedures to me, and advising me as to the progress of my case. His support staff was also very helpful. He made what for me created so much anxiety into something manageable where I could see progress every step of the way. His fees were very reasonable. I am super grateful to him for all the help he has provided and strongly recommend his services. Diana Janer
★★★★★
I just completed an estate transaction where Jules Haas represented my client in an estate and he did a great job! He was very quick at responding to all matters throughout the sale process, he was detailed, he was knowledgeable and he was a pleasure to work with. I just recommended him to some new clients who are going through an estate matter and will continue to recommend him. Rodolfo Lucchese