Estate Tax Planning in the Bronx, NY

Estate taxes can take a big chunk out of the money and property you want to leave your family. With smart planning, you can protect more of your assets from taxes and keep more in your loved ones’ hands. The right legal moves now make a real difference and can save your family from a heavy tax bill down the road.

Understanding Estate Taxes

What Gets Taxed

• Real estate and homes
• Bank accounts and investments
• Life insurance payouts
• Business interests
• Valuable personal items

We help families in the Bronx understand exactly what parts of their estate might face taxes. Many people are surprised to learn which assets count toward their taxable estate. Setting up proper trust arrangements can help protect these assets and keep your plan on track.

Ways to Lower Estate Taxes

Common Tax Reduction Strategies

• Gifting to family members
• Creating trusts
• Charitable giving
• Life insurance planning
• Property ownership changes

Every strategy works differently, and the best mix depends on your situation. From Pelham Bay to Kingsbridge, we help clients pick the right tools to protect their assets from unnecessary taxes and keep their wealth in the family.

When to Start Tax Planning

Acting early is key. Waiting too long can limit your options and cost your family more. We work with families of all sizes to create tax-smart estate plans that protect their wealth for future generations.

Working With Both State and Federal Taxes

New York has its own estate tax rules, separate from federal taxes. We know how both sets of rules work together and use that knowledge to help you save more. Our team stays up to date with all tax law changes to give you the best advice possible.

Special Planning for Business Owners

Owning a business adds extra layers to estate tax planning. Special tools like family limited partnerships and business succession plans can help reduce taxes while keeping your business running smoothly. Proper asset protection strategies are crucial for business owners who want to keep their hard work safe.

Yearly Tax Planning Reviews

Tax laws change often, and so do family situations. Regular reviews of your estate tax plan help catch problems before they grow. Making small updates now, including reviewing your will and estate documents, can prevent big tax headaches later and keep your plan working for you.

Get Started With Estate Tax Planning in the Bronx, NY

Reach out to Adon & Associates at 718-275-1243 for personal legal guidance. You can also schedule a free consultation to talk about your needs.