Law Office of Inna Fershteyn and Associates, P.C.
Estate Planning & Elder Law Attorney
In both New York and New Jersey, there is no state gift tax. However, both states adhere to the federal gift tax rules and exemptions. In 2026, the federal annual gift tax exclusion is $19,000 per recipient, meaning that if a gift stays within that
It’s fairly unanimous that receiving a gift, especially in the form of cash, is a great feeling. You don’t have to pay anybody back, and you can do whatever your heart desires with the funds. Unfortunately, while most people agree on the joy of receiving
Until Death Do Us Part: Exploring the Spousal Lifetime Access Trust (SLAT) What is a Spousal Lifetime Access Trust (SLAT)? The Spousal Lifetime Access Trust (SLAT) is an irrevocable trust that benefits the donor’s spouse and children. Through a SLAT, a donor may reduce a