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WHAT CAN YOUR SPOUSE REACH IN A DIVORCE?

WHAT CAN YOUR SPOUSE REACH IN A DIVORCE?

August 15, 2016

Authored by: Stacie J. Rottenstreich and Edward Peck

 

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In the recent decision, Pfannenstiehl v. Pfannenstiehl, the Massachusetts Judicial Supreme Court overruled the appeals court decision and concluded that assets held in a discretionary trust created by a third party, where the husband is but one potential beneficiary of the trust, is not a marital asset to be divided on divorce.

Yet One More Word on New York Estate Taxes

Yet One More Word on New York Estate Taxes

August 3, 2015

Authored by: Stacie J. Rottenstreich, Karin Barkhorn and Edward Peck

ThinkstockPhotos-466616312The New York State Department of Taxation and Finance recently issued a Technical Memorandum explaining the 2015 legislative amendments to the major New York State estate tax reform provisions enacted in 2014 and reported on this blog last year. The amendments are all effective retroactive to April 1, 2015.

The amendments made clear that the following tax tables are permanent.

Basic Estate Tax Exclusion Amount increases are to be phased in as follows for New York residents or non-residents owning real property located in New York State during the period listed:

 

 

April 1, 2014 – March 31. 2015: $2,062,500;

April 1, 2015 – March 31, 2016: $3,125,000;

April 1. 2016 – March 31, 2017: $4,187,500;

April 1, 2017 –