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Trusts & Estates

Sell the House, or Keep It for the Kids?

Like many Americans, your home is probably your largest asset. However, if you have children who have grown and moved away, you’re left with an empty nest, quiet and big. You may be torn between keeping the house and passing it to your children someday, or selling it. On one …

Trusts & Estates

Probate Tips for Getting Through the Process Faster and with Less Hassle

Probate lawyers in Monroe County and our neighbors in Ontario, Wayne and Livingston Counties are well aware of the hassles and headaches that families face when a loved one’s estate goes into probate.  The process can drag out, eating up not just time but also resources that would have otherwise …

Trusts & Estates

Learn Why the New Federal Estate Tax Exemption Doesn’t Give You an Estate Planning “Pass”

Unless you were living under a rock, you most likely heard about the tax reform bill that was passed by Congress and signed by the President over the holidays. One big change that came out of it was the doubling of the exemption amount for federal estate, gift, and generation-skipping …

Trusts & Estates

You Can Now Save More Money in ABLE Accounts in 2018

The Achieving a Better Life Experience (ABLE) Act, which was created by Congress in 2014, allows people with disabilities and their families to save up to $100,000 in accounts for the benefit of a disabled person. The funds can be saved without jeopardizing the individual’s eligibility for Medicaid, Supplemental Security …

Trusts & Estates

What You Don’t Know Could Hurt You, Especially for the Unmarried

While married couples may seem to obviously need estate planning services, especially when children arrive, unmarried couples may actually need it more.  It’s a pretty well known fact that when a married spouse passes away, the other will likely inherit a considerable portion of the estate, simply by virtue of …

Real Estate

A Few Things to Think About When Buying and Selling a House

If you are getting ready to buy or sell a house, the process can be overwhelming. Here are a few points to consider as you go:   “BUY” Price per square foot – comparable to other homes sold? How far above assessed value is the price – taxes may go …

Litigation

Get Off My Property!! The Counter-Arguments.

We’ve all heard that commonly yelled phrase “get off my property!!” Some of us may have even been the intended listener of that order, which is to say some of us have been troublemakers on someone else’s property. In either case, that demand by the property owner is normally complied …

Trusts & Estates

Estate Planning After The Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act, which became effective on January 1, 2018, is considered the most significant overhaul of the U.S. Tax Code since 1986.  The changes will have a profound impact on individuals, trusts, estates, and businesses in a variety of ways. Generally, the new tax law alters …

Entertainment

Ten Things You (Probably) Didn’t Know About Copyrights

Everybody knows that January 1st is New Year’s Day, but did you know that January 1st is Copyright Law Day as well?  Like New Year’s Day, Copyright Law Day is an international observance, intended to celebrate the laws that protect the efforts of authors of all forms of tangible medium: …

Business & Finance

The Tax Cuts and Jobs Act – let the (tax) games begin

On December 19, 2017, a 1097 page “simplified tax code” was passed by both the House and Senate and signed into law on December 22, 2017. The bill went into effect January 1, 2018 with paycheck withholding changes likely starting in February. This article will summarize the major provisions of the …

Litigation

State universities and their possible immunity from the Americans with Disabilities Act

The Americans with Disabilities Act (“ADA”) is one of the most far-reaching, influential pieces of legislation that exists in the United States. As a whole, the ADA is an amazing tool for individuals with disabilities to have their rights protected and respected by all kinds of institutions. However, there is …

Business & Finance

The Revenue Act of 2017? 2018?

On Thursday, November 2, 2017, the House Ways and Means Committee revealed its 429-page “simplification” of the Internal Revenue Code (“Code”). This article will attempt to summarize the proposed bill and we will follow up from time to time to as the bill winds its way through Congress. First a …

Business & Finance

Timber! Rights and Obligations of Landowners and their Trees

On what began as a regular Sunday afternoon on October 15th, Rochester experienced another one of its famous spontaneous whirlwind rain storms. One second, sunshine and blue skies, the next, a wind storm that pulled trees out of the ground and sent branches flying. Its terrible force even caused my …

Litigation

Everybody’s a critic—strategies to combat defamatory online reviews

Google processes over 3.5 billion search requests each day. I discovered this information by typing into the Google search bar “How many people use google search?” If I had typed in a question related to a business, I would find myself looking at the search results .75 seconds later. On …

Real Estate

Municipal Code Amended to Prevent Discrimination on Basis of Income

On June 20, 2017, the Council of the City of Rochester passed Ordinance No. 2017-163, amending Chapter 63 of the Municipal Code with regard to housing discrimination on the basis of source of income. Rochester area real estate professionals have long had the obligation to act in accordance with the …

Trusts & Estates

Special Estate Planning Considerations for Professionals

Columns and blogs abound offering tips and questions individuals should ask to help you choose the right professional to assist you with your investments, retirement, taxes and legal planning. Check any consumer organization’s website or scroll posts on LinkedIn and you will discover options to evaluate your potential new trusted …

Business & Finance

Can Trump’s Tax Plan Make America Great Again?

“A little hyperbole never hurts. People want to believe that something is the biggest and the greatest and the most spectacular…. I call it truthful hyperbole. It’s an innocent form of exaggeration – and a very effective form of promotion.” – Donald Trump, The Art of the Deal. One of …

Real Estate

New York Adopts Legislation to Address Vacant and Abandoned Foreclosures

For far too long, vacant and abandoned foreclosed homes have been a serious problem for citizens and public officials in New York. According to a recent study,[1] vacant foreclosed homes number over 3,000 in the state of New York, trailing only New Jersey. One need not venture inside a property …

Employment & Labor

New Overtime Regulation Goes Into Effect On December 1, 2016 – Or Will It?

As most know by now, earlier this year the U.S. Department of Labor (DOL) published its final rule updating the regulations governing whether executive, administrative, and professional employees are entitled to overtime under the Fair Labor Standards Act (FLSA).  Under the current regulations, an employee who is classified under one …

Trusts & Estates

The “Voluntary Tax” Revisited

In 1976 Harvard Law Professor A. James Casner, an acknowledged expert in estates, told the members of the House Ways and Means Committee: “In fact, we haven’t got an estate tax, what we have, you pay an estate tax if you want to; if you don’t want to, you don’t …

Business & Finance

The Pros & Cons of Entity Structures

You’ve decided that you want to form a company. Great! Maybe you want to form a simple C corporation, but you’ve heard something about “double taxation,” and you certainly don’t want to pay taxes twice. You’ve also heard people, in passing, mention S corporations, but you probably didn’t want to …

Trusts & Estates

Loved Ones Have Their Chance to Say “Just One More Thing…”

Fans of the popular television series “Colombo” that starred Peter Falk may remember his familiar line in each episode, “Just one more thing…”

Business & Finance

S Corporations: Capital Contributions or Shareholder Loans?

Many small businesses, organized as S corporations, encounter the problem of cash shortfalls at some point in their existence.As a result, S corporation shareholders are commonly faced with the question, “what is the best way to inject cash into the business, a capital contribution or a shareholder loan?” The answer …

Real Estate

Fair Housing Update: Time to Rethink Blanket Prohibition Against Criminals

On April 4, 2016, The Department of Housing and Urban Development (“HUD”) announced new guidance on the HUD’s interpretation of how the Fair Housing Act applies to would-be tenants with criminal convictions.

Trusts & Estates

Bequests of firearms under the New York SAFE Act

A simple bequest in your will is not enough to ensure lawful transfer of a firearm at your death. There are several hoops your executor and beneficiary will have to jump through to make sure the bequest is successful. You will want to make sure they are both as prepared …

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