Fratello Law

Estate Tax Attorney Syosset

Prepare for the Future with an Experienced, Dedicated Estate Tax Attorney By Your Side

Estate Tax Preparation for All Stages

Estate planning is a process that encompasses a wide variety of life-planning decisions and includes a plan for your property, finances, and other assets in the event you pass away or become incapacitated. When you are in the process of completing an estate plan, you need to have knowledge of Syosset estate tax law. Our compassionate and trusted estate tax lawyers can help you understand the specific laws and exemptions that may affect your New York property.

Fratello Law is an all-women, community-based New York law firm with experience partnering with clients who are looking for help with the estate planning process. With the help of one of our trusted estate tax lawyers, you will have a comprehensive education on the laws and regulations concerning estate taxes in Syosset, New York. We are a firm that focuses on building high-quality relationships with our clients as we guide them through all of their legal needs concerning estate taxes.

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Schedule a free estate planning consult today.

Suffolk Office: (631) 406-5580
Nassau Office: (516) 321-4010

Why Is Estate Planning in Syosset, New York?

Estate planning is an important process that individuals must complete in order to ensure their wishes are respected in the event that they pass away or are incapacitated. One way estate planning can provide value to individuals is the ability for them to reduce the taxable estate to help avoid the New York estate tax cliff. When you work with our Syosset estate tax lawyers, they can help you utilize some of the estate planning tools that may reduce or eliminate the estate tax that affects assets.

To ensure you fully understand what estate planning tools may be right for your estate plan as you look to avoid the estate tax cliff, retain the help of one of our trusted estate tax lawyers in New York today.

What Is the Difference Between Estate Tax and Inheritance Tax in New York?

It is not uncommon for individuals to confuse estate tax and inheritance tax. While the terms are often misinterpreted, they refer to different types of taxes. The state of New York actually does not charge an inheritance tax. Instead, when a person passes away, their property or estate is subject to an estate tax. The different estate taxes are as follows:

The federal estate tax rate is 18% to 40% and typically only applies to assets over $12.06 million for 2023.
The New York estate tax rates start at 3.06% with a maximum rate of 16%. In the state of New York, estates that are worth over $6.58 million are subject to this estate tax.

If you are unsure if your property will be affected by the estate tax rate in New York, speak with one of our knowledgeable Syosset lawyers as soon as possible.

Contact a Syosset, New York, Estate Tax Lawyer

At Fratello Law, our team of legal professionals is here to help you with every detail of the estate planning process in order to attempt to minimize the amount that your estate will be taxed. Our legal team is well-versed in the estate planning process and familiar with the laws concerning estate taxes in New York. The estate tax lawyers at Fratello Law can help you communicate effectively with all relevant parties and help navigate unique financial and family situations.

Schedule a no-cost initial consultation with our skilled Syosset estate tax lawyers by calling (516) 321-4010 or filling out our contact form. We are a small firm with a big heart that is also available for video conferences and to travel to your home for the convenience of homebound clients. We look forward to welcoming you to our client family.

Our attorneys focus on creating a Last Will and Testament that carries out your wishes for your assets, belongings, the guardianship of your minor children, and more. Learn more.

Our practiced attorneys will guide you in selecting the right type of trust for you, appointing a trustee, and ensuring your assets are distributed to the correct beneficiaries. Learn more.

Our dedicated disability planning attorneys will guide you in creating the right power of attorney and healthcare proxy to ensure your finances and wellbeing are cared for in the event of an illness. They will also help you draft a living will that ensures all of your end-of-life wishes are upheld. Learn more.

Estate Tax Planning

Our estate planning attorneys at Fratello Law will guide you in transferring your hard-earned assets with as little taxation as legally possible by way of the many testate planning vehicles available. Both New York State and the federal government impose a tax on your right to transfer your property at your death if your gross estate exceeds a predetermined exclusion amount. This amount changes every year. We work with you and your accountant to determine the best panning to shelter your wealth.