The Federal estate, gift and generation-skipping transfer (“GST”) tax exemption amounts have increased in 2023 to $12.92 million per individual (up from $12.06 million in 2022). Read more.
February 6, 2023
By Executive Order 202.87 issued December 30, 2020, New York’s remote notarization and document execution procedures are extended through January 29, 2021. Read more.
January 12, 2021
On December 15, 2020, Governor Cuomo signed into law a long-awaited bill regarding New York’s Power of Attorney form, which will take effect in the summer of 2021. Read more.
January 6, 2021
By Executive Order 202.79 issued December 2, 2020, New York’s remote notarization and document execution procedures are extended through January 1, 2021. Read more.
December 16, 2020
By Executive Order 202.60 issued September 4, 2020, New York’s remote notarization and document execution procedures are extended through October 4, 2020. Read more.
September 8, 2020
The pandemic has prompted many of our clients and friends to focus on their estate planning -- finalizing Wills and estate planning documents that had been in progress, or just getting the planning process started with a new sense of urgency. Read more.
August 31, 2020
New York State Executive Order 202.48, issued July 6, 2020, which extended New York’s remote document execution procedures, is set to expire on August 5, 2020. Read more.
August 4, 2020
By Executive Order 202.48 issued July 6, 2020, New York’s remote document execution procedures are extended through August 5, 2020. Read more.
July 7, 2020
After weeks of uncertainty regarding commencement of probate petitions and the admission of Wills to probate, the New York State (NYS) Surrogate’s Court system has taken steps toward reopening for both essential and non-essential matters. Read more.
June 1, 2020
For the past month, we have been supervising the execution of our clients’ Wills and related estate planning documents through the use of audio-video technology, allowing for the completion of planning projects while maintaining appropriate social distancing. We conduct these signing conferences through the use of various technological platforms, depending on clients’ preferences or limitations – and all coordinated with clients beforehand. Read more.
May 11, 2020
The pandemic’s effect on the economy has led to reduced valuations for many privately-owned and publicly-traded businesses, as well as reduced valuations for real estate and other assets. At the same time, interest rates remain at historically low levels. This unique economic environment can create estate planning opportunities for certain individuals and families. Read more.
May 4, 2020
On April 7, 2020, Governor Cuomo issued Executive Order No. 202.14, which allows for audio-video witnessing of Wills, Trusts, Powers of Attorney, Health Care Proxies and Appointments of Agent for Disposition of Remains. Read more.
April 8, 2020
The SECURE Act (which stands for “Setting Every Community Up for Retirement Enhancement”) was enacted at the end of last year and makes several significant changes to the laws governing retirement accounts. The changes will have consequences for both retirement and estate planning. Read more.
February 26, 2020
The Federal estate, gift and generation-skipping transfer (GST) tax exemption amounts have increased in 2020, to $11.58 million per individual. Read more.
January 6, 2020
On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was signed into law. The Act temporarily doubles the estate, gift and generation-skipping transfer ("GST") tax exemption amount. Read more.
January 4, 2018
There's important news for family business owners and their heirs. Read more.
August 23, 2016
On April 1, 2016, the New York State ("NYS") estate tax exclusion amount increased to $4,187,500, further narrowing the gap between the NYS estate tax exclusion amount and the Federal estate, gift and generation-skipping transfer ("GST") tax exemption amounts ($5,450,000 as of January 1, 2016). Read more.
April 25, 2016
The current Federal estate, gift and generation-skipping transfer (GST) tax exemption amounts are projected to increase in 2015. Read more.
September 29, 2014
On March 31, 2014, Governor Cuomo signed legislation to implement the New York State fiscal plan for 2014 - 2015. The legislation makes broad changes to the New York State estate and gift tax laws as well as some more technical changes to certain trust income tax rules. Read more.
April 3, 2014
On December 18, 2013, the "Nonprofit Revitalization Act of 2013" (the "Act") was signed into law by Governor Cuomo. The Act represents a major overhaul to New York's Not-for-Profit Corporation Law, the first of its kind in over 40 years. Read more.
December 20, 2013
The current Federal estate, gift and generation-skipping transfer tax exemption amounts are projected to increase in 2014. Here are he projected adjustment, compared to 2012 and 2013. Read more.
October 1, 2013
As you probably know, two recent Supreme Court cases have altered the estate planning landscape. Here's a summary of what happened with the Defense of Marriage Act - and suggestions for how to proceed. Read more.
July 17, 2013
The Tax Relief Act of 2010 was overwhelmingly passed by Congress and signed into law by President Obama on December 17, 2010. The new law provides numerous tax benefits for businesses and individuals for the next two years. Read more.
December 16, 2010
The end of 2010 brings more than the usual range of estate planning opportunities.As year-end approaches, so does the expiration of the Bush era tax cuts. The lame duck Congress' willingness to enact tax legislation before 2011 looks increasingly unlikely. Read more.
December 1, 2010
By now, many of you have heard about the dramatic - and, many pundits would add, inexplicable - changes to the Federal estate tax law that became effective as of January 1, 2010 and will apply through the end of the calendar year. Read more.
January 6, 2010
We provide tailored, industry-specific legal updates to our clients and other friends of the firm.
