EFTA Document EFTA01457972

New York treats Mom as if she were a New York resident, and her taxable estate - the $5.34 million credit shelter trust for Dad - exceeds New York's $1 million exclusion, thereby triggering hypothetical New York estate tax of $431,600. Since Mom's interest in the condo represents 5% of her estate, her New York estate tax is 521,580 (5% of $431,600). The "new" New York estate tax produces a dramatically different result in this example: New York now only taxes non-resident decedents on their