Are you familiar with New York's estate and death tax system? New York is one of 14 states with an estate tax -- a tax on the cash, real estate, stocks, bonds and other property left by residents who have died. But the law might soon change.
The taxation of wealth transfer is a complicated area of law, but a basic introduction to estate taxes and death taxes can help you start thinking about this pressing financial planning issue.
Here are three things to know about estate taxes and death taxes in New York: