On March 31, 2014, broad changes were made to the New York estate and gift tax laws. In addition to increasing the New York basic exclusion amount for taxable estates, a New York estate tax “cliff” was introduced that phases out the New York basic exclusion amount for taxable estates between 100% and 105% of
gifting
Fundraising and the Special Needs Trust
By Mary Browning on
Posted in Special Needs Trusts
Clients occasionally come to us because their community would like to raise funds on behalf of their child with special needs. It is important that a proper special needs trust is set up before these gifts are made so that assets are not inadvertently given to the special needs child individually. A friend or family …