Sanford J Schlesinger

September 22, 2009 | New York Law Journal

Sanford J. Schlesinger, a founding partner of Schlesinger Gannon & Lazetera, and W. Gyongyi Gulyas, an associate at the firm, write that New York's new power of attorney law introduces many beneficial new provisions to the law. However, they warn that the complexities of the new power of attorney law may serve to discourage principals' use of the statutory short form because of the SMGR requirement, and/or powers of attorney in general, and may lead to principals executing powers of attorney which are invalid, or have unintended consequences.

By Sanford J. Schlesinger and W. Gyongyi Gulyas

13 minute read

January 25, 2010 | New York Law Journal

Sanford J. Schlesinger and Martin R. Goodman, partners at Schlesinger Gannon & Lazetera, write: Despite all the predictions to the contrary, Congress failed to enact legislation that would avoid the one-year repeal of the federal estate tax, effective as of Jan. 1, 2010. Although this has left many in a state of uncertainty, this inaction also has created the possibility of substantial tax planning opportunities.

By Sanford J. Schlesinger and Martin R. Goodman

15 minute read

January 07, 2011 | New York Law Journal

Sanford J. Schlesinger and Martin R. Goodman, partners at Schlesinger Gannon & Lazetera, discuss the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, which, among other things, reforms the federal estate tax, gift tax and generation-skipping transfer tax laws for 2010 through 2012.

By Sanford J. Schlesinger and Martin R. Goodman

15 minute read

July 30, 2010 | New York Law Journal

Sanford J. Schlesinger is a founding partner of Schlesinger Gannon & Lazetera, and W. Gyongyi Gulyas, an associate at the firm, write that the flaws and inadequacies of the 2009 power of attorney law necessitated the significant corrections to the law that are contained in a bill awaiting Governor Paterson's signature.

By Sanford J. Schlesinger and W. Gyongyi Gulyas

15 minute read

September 22, 2008 | New York Law Journal

Sanford J. Schlesinger, a founding partner of Schlesinger Gannon & Lazetera, and Beth E. Spickler, an associate at the firm, write that it may seem counterintuitive to transfer wealth in "hard times." Yet, such gifts, especially of undervalued assets, can be highly desirable. If the value of assets is artificially depressed by the current market, utilizing annual exclusions and lifetime exemptions with these assets may make good estate planning sense. Assets are removed from the donor's estate at a deflated value, but the donee realizes the full value when the market recovers.

By Sanford J. Schlesinger and Beth E. Spickler

15 minute read

September 17, 2009 | New York Law Journal

Sanford J. Schlesinger, a founding partner of Schlesinger Gannon & Lazetera, and W. Gyongyi Gulyas, an associate at the firm, write that at one time, a power of attorney was among the most straightforward, easily executed legal tools an attorney could recommend to a client; unfortunately, the very simplicity of powers of attorney also made their use vulnerable to abuse. And so, they say, Governor David A. Paterson signed into law, a bill making extensive changes to New York's power of attorney law.

By Sanford J. Schlesinger and W. Gyongyi Gulyas

21 minute read