Estate Planning & Wealth Protection

Authored by: Neeli G. Shah
Death in the digital age is a lot more complicated than it used to be.  Traditionally, fiduciaries and family members start administering an estate by reading the individual’s mail and sorting through records at the person’s home.  However, with online accounts and paperless billing, these traditional approaches may not be available [...]

Authored by: David L. Fox
It is common for lawyers to advise their clients when setting up a professional corporation to adopt a shareholder’s agreement. Such agreements, if well prepared, will provide a road map on how to resolve disputes when they arise, and provided a means for orderly succession when one or more of the [...]

Authored by: Paul J. Sowell, Esq.
In a day of shrinking state coffers you would think that more and more states, in a last chance to grab revenue, would be looking to the estates of their deceased wealthy residents as a source of money.  Actually, you would be wrong. The growing trend among states which have [...]

Authored by: Dorothy J. Santos
One major responsibility of an estate fiduciary is to collect the assets of the estate.  Normally, this process is relatively straightforward, especially if the fiduciary is knowledgeable about different types of assets and comfortable dealing with various types of financial institutions.  However, there are undoubtedly times when the fiduciary has to [...]

Authored by: Scott A. Harty
The U.S. government continues to levy immense pressure on the Swiss banking system, and the Swiss banks, historically renowned for their secrecy, continue to show cracks.  On January 30, 2012, eight Swiss banks acquiesced to intensified pressure from the U.S. and handed over data on many U.S. clients suspected of tax [...]

Authored by: Dorothy J. Santos
Here’s a case for making sure you choose the right spouse and friends in life.
A New York State court recently held a widow and her two friends liable in connection with the production of a “sham” Will for the widow’s deceased husband and its admission to probate.  The court’s decision illustrates [...]

Authored by: Paul J. Sowell, Esq.
A recent amendment to New York law gives more Trustees the ability to fix or otherwise change the terms of a trust.  Specifically, Governor Andrew M. Cuomo recently signed a bill amending Section 10-6.6(b) of the Estates, Powers and Trusts Law, commonly referred to as New York’s “decanting” statute.  In [...]

Authored by: Dorothy J. Santos
A tax apportionment clause, the provision in a Will or Revocable Living Trust governing the payment of estate tax at death, can drastically affect the disposition of your estate and the shares that your beneficiaries receive.  This provision is not mere “boilerplate” and should be fully discussed (and understood) with one’s [...]