[Fredslist] Calling Gotham Estate Planning Gurus

[Vincent Averaimo]

Hello everyone:

I have an interesting situation that I am hoping an estate attorney in NYC and Gotham can help me out with.

Married couple owns real property in Milford CT.  Wife is a University Professor in NYC.  She maintains a rental in NYC, has bank accounts in NYC, derives her only income from NYC and uses her NYC address on her tax returns.  She claims to spend about 50/50 time between NYC apartment and Milford CT home.  When asked where she spends 184 days or more during a year she responded NYC.  As part of her retirement which is coming rather quickly, if she maintains residency/domicile in NYC she has use of her professor housing studio apartment in perpetuity until her death at no cost.  Currently she rents same.

Husband is retired, lives in Milford, uses the Milford address and has no assets or ties to NYC.  Home in Milford is titled as joint tenants with rights of survivorship.

They have come to me to draft a Will and other estate planning documents.  They are beneath the State of Connecticut Estate and Gift Tax Exemption (not sure what NY amount is).  The way I see it, wife would have to administer her estate with the primary being in NYC and the ancillary being in the Milford Probate Court.  Husbands estate would only be in the Milford Probate Court.  If I draft reciprocal wills, which is what they want, they will be signed pursuant to the laws of the State of Connecticut.  Will a CT Will be acceptable in a NYC Probate Court.  Does she have to see a NY estate attorney for her particular estate plan.  Would that be more advisable?  Something about her residency/domicile in NYC is giving me pause.

Anyone willing to discuss with me briefly or have any advice?  Thanks in advance.

Vin

Vincent J. Averaimo, Esq.
[Milford-Law-320x230]
[dd-default-logo]
 250 Broad Street
Milford, CT 06460
(203) 874-6773 Ext. 201 - Telephone
(203) 874-5765 - Facsimile
vincent at milfordlegal.com<mailto:vincent at milfordlegal.com>
www.milfordlegal.com<http://www.milfordlegal.com>
www.directdefault.com<http://www.directdefault.com>


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