What Is Legacy Wealth Planning in New York?

New York residents who are in possession of a significant amount of wealth have some great responsibilities, and some great opportunities. Accumulating wealth is challenging, but it can be just as challenging to keep these assets in the family over a number of generations. This is where legacy wealth planning in New York becomes important. What is legacy wealth planning? In a general sense it is the process of positioning assets in a manner that allows them to stay intact and perhaps even grow over a number of generations. Your first thought would be that this is quite simple. Assets properly invested are going to appreciate. Plus, each generation will have an opportunity to add to the family fortune. As assets are passed on from generation to generation there is no particular reason why the sum total should decrease. This may be a logical line of thinking if death taxes did not exist. In the United States we have a federal estate tax that carries a 40 percent maximum rate. This tax i

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