The Importance 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 spouse’s federal estate tax exemption. Understanding portability and maximizing its advantages is essential for effective estate tax planning in New york. By engaging in proper tax planning, you can safeguard your assets and ensure the financial security of your family. At Morgan Legal Group, serving clients in New York City and beyond, we offer expert guidance on portability and other estate tax planning techniques to help our clients preserve their wealth and secure their family’s future.
Exploring Portability: Unpacking the Deceased Spousal Unused Exclusion (DSUE)
Portability allows a surviving spouse to make use of any unused portion of their deceased partner’s federal estate tax exemption, known as the Deceased Spousal Unused
