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Family members play an extremely important role in representing and advocating for their aging loved ones in both legal and healthcare matters.

Like many states, New York has a progressive tax rate that starts at 3.06% for estates at or over $5.74 million and extends up to 16% for estates that exceed the exemption limit by $10.1 million or more.

Many people choose to move out of New York, New Jersey, Connecticut and other high-tax states to Florida, Texas, New Hampshire and other states without an income tax.

FALSE: Wills don't avoid probate; in fact, they all but guarantee it. Probate can be a long and expensive process, in which a court decides whether to admit a will to allow administration of an estate.