SESSION NO. 3

How much in New York estate taxes might you save if you change your domicile?

The general rule is that intangible personal property is deemed to have a situs where the owner is domiciled at the time of his death and will not be subject to estate taxes in New York owned by a Floridian. Real property and tangible personal property has a tax situs where it is located

• Works of art


• Jewelry in safe deposit box

A Floridian’s home in New York will be subject to New York estate taxes.

• Consider transfer of home to exclude from estate