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Irrevocble Trust
As per the my point of view Real Estate Board of New York is the most common real estate foundation in New York state.
If you want to have a list of real estate brokers in your area in New York, you can actually ask for a list from the New York State real estate department and have a list of licensed real estate brokers in the area.
In New York State, a life estate expires upon the death of the life tenant. The property will then typically revert back to the remainderman or the owner of the future interest as specified in the life estate arrangement.
New York State determines estate tax by multiplying the property's taxable assessment minus any exemptions by the tax rates for school districts and municipality.
In New York State, the legal age to be an executor of an estate is 18 years old. Any adult over the age of 18 can serve as an executor to manage and distribute the assets of an estate according to the deceased's wishes.
I guess what ever is agreed upon that a court would find reasonable.
The New York State estate tax rate ranges from 3.06% to 16%. The actual rate depends on the value of the estate, with higher rates applying to larger estates.
show me what deed like
Under the NY EPTL, trustees are entitled a fee for the execution of their duties with regards to a will. The exact fee amount is divided into tiers, depending on the value of the estate being managed.
There can be two trustees, depends on the wording of the trust.
New York does have an estate tax. They do not have an inheritance tax. It would be a good idea to consult a probate attorney in the Empire State of NY. They will know how to reduce the tax liabilities of the estate.