By Roman Aminov, Many families in Queens own more than they think. Add up the co-op or house you bought years ago, a couple of retirement accounts, a life insurance policy, and whatever sits in checking and savings, and the total can surprise you. That number matters because New York has its own estate tax […]

By Roman Aminov, If you own property in New York, have a family to provide for, or simply want to keep the state from deciding what happens to everything you've built, the question isn't whether you need an estate plan. The question is which tools belong in it. For most New York families, the decision […]

Testamentary Trusts vs. Living Trusts: What’s the Difference—and Which Fits Your Family? When people hear “trust,” they may not know that there are trusts are effective while you are alive, i.e. “living trusts” and trusts that spring into existence when you pass away, i.e. “testamentary trusts”. Understanding how they work—especially the role of probate, funding, […]

Estate planning is an important process for ensuring that your assets and property are distributed according to your wishes after you pass away. One option for estate planning is to create a living trust, which is a legal document that allows you to transfer ownership of your assets to a trust while you are still […]

Purchasing a property in New York City is an exciting endeavor, but the process can be complex, with distinct differences depending on whether you're eyeing a co-operative (co-op), a condominium (condo), or a private house. This guide will walk you through the general steps involved and highlight the unique aspects of each property type, all […]

The 2025 New York estate tax exemption is set at $7.16 million per person. This means if the total value of your assets is at or below this amount when you pass away, New York State generally won't levy an estate tax. However, for estates exceeding this threshold, understanding the rules and planning accordingly is […]

For many people in New York, the terms "trusts" and "estate planning" conjure images of sprawling mansions, vast fortunes, and complex legal battles among the ultra-rich. It's a common misconception that these tools are exclusively for the wealthiest 1%. But as an estate planning attorney serving the diverse communities of New York City, I can […]

When a New Yorker dies "intestate" (without a will), their real estate doesn't simply sit in limbo. New York law dictates who inherits, but the path to clear ownership for these "heirs at law" involves complexities, especially when it comes to selling the property. This is particularly true concerning potential risks within the first couple […]

As a trusts and estate attorney serving clients here in Queens and throughout New York City, I often emphasize that estate planning is not a "set it and forget it" task. Think of your estate plan as a living set of documents, designed to evolve with you through the various chapters of your life. Just […]

When a New York property owner can no longer make decisions about their real estate due to illness or cognitive decline, families often face a legal hurdle, especially if a sale is needed to fund care or manage finances. An "incapacitated" individual cannot legally sell property. New York's Article 81 Guardianship proceeding provides the legal […]