Recent Publications - Trusts & Estates


Action Required for Certain Non-Filers to Obtain Maximum Economic Impact Payment
April 21, 2020 | Trusts & Estates | Tax

The IRS on April 20, 2020, issued a special alert for non-filing Social Security or Railroad Retirement Benefit Recipients with qualifying children under 17 (“non-filers”).

In order to receive the additional $500 payment per eligible child added to the $1,200 Economic Impact Payment, non-filers must register on the IRS’ Non-Filer tool site by 12 p.m.

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10 Steps to Protect Your Loved Ones From Elder Fraud Abuse
April 21, 2020 | Trusts & Estates

We have an elder fraud epidemic in this country. By one estimate, one in 10 people in the United States over the age of 65 falls victim to financial fraud every year. Telephone scams, caretaker abuse and contractor fraud are just three of the most common forms of this exploitation. As baby boomers grow older,

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Nonprofits Eligible for CARES Act Assistance
April 9, 2020 | Banking

Although small businesses have been the focus of coronavirus-related financial assistance, nonprofits have been similarly struggling. They, too, must cover payroll expenses, rent and financing obligations. Rightly, the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law by President Trump on March 27, 2020, also applies to them.

The following describes the benefits

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Estate Planning Documents May Now Be Witnessed and Notarized Remotely
April 8, 2020 | Trusts & Estates

New York now permits remote witnessing of certain documents and expands standby guardian designations.

Executive Order 202.14, dated April 7, 2020, amends several New York laws regulating the witnessing of documents to permit them to be witnessed remotely. On March 19, 2020 Executive Order 202.7 authorized the use of remote notary services.

Taken together, these

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Lower Stock Prices’ Silver Lining: Good Time to Gift Assets
April 2, 2020 | Trusts & Estates | Tax

The recent stock market volatility due to the coronavirus has understandably caused concern. When the market drops, however, it presents a great estate planning opportunity. Then, it’s the perfect time to gift assets to loved ones at a significant discount, something that would not have been possible even one month ago.

Lower stock prices allow

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An Important Message during Difficult Times
March 30, 2020 | Trusts & Estates | Tax

Friends and colleagues-

My thoughts are with you during these uncertain times.

First and foremost, I want you and your family to stay safe and healthy. Social distancing is a small price to pay for guarding the wellness of our most vulnerable.

Second, I am sure you are anxious about your health and the health

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NYS Offers Forbearance to Borrowers, NYC Allows Penalty Waivers
March 25, 2020 | Banking

On March 21, 2020, Governor Cuomo issued Executive Order 202.9, which is in effect through April 20, 2020. The order provides financial relief to consumers and businesses with outstanding bank loans.

The order modifies subdivision two of Section 29 of the Banking Law to provide that it is an “unsafe and unsound” business practice if

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Gov. Cuomo Orders Remote Notarization of Legal Documents
March 20, 2020 | Trusts & Estates

The current health crisis has highlighted the need for many people to put their affairs in order. The New York State Government is doing its part to make this easier in this era of social distancing.

Governor Cuomo, by Executive Order dated March 19, 2020, has permitted documents to be notarized via remote video conferencing.

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Is Coronavirus Covered by Your Contract’s Force Majeure Provisions?
March 18, 2020 | Corporate | Commercial Litigation

Part of the commitment to entering into a contract includes an agreement between parties to perform contractual obligations on a timely basis, with limited exceptions. Contracts frequently include a provision titled “force majeure,” which translates literally from French to mean “superior force.”

Force majeure provisions, generally part of the boilerplate section of a contract and

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Minding Your Business: Succession Planning for Business Owners
March 4, 2020 | Trusts & Estates | Corporate

Business owners are driven, focused, goal-oriented people, who have achieved success by keeping their eyes on the ball at all times. Running a successful business, however, goes beyond running a business day to day. It means having the ability to grow in strong markets, reacting to industry downturn, and most importantly, planning for unforeseen events,

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