Why New York Couples Must Maintain Sufficient Assets in Each Spouse’s Individual Estate
A Client Guide to Maximizing the New York Estate Tax Exemption and Avoiding the "Cliff" 1. New York's Estate Tax Works Differently Unlike the federal system, New York does not allow portability of the estate tax exemption between spouses. This means that when the first spouse dies, any portion of that spouse’s New York Basic Exclusion Amount ("BEA") that is unused is lost forever. Read More »