Terence E Smolev

August 28, 2015 | New York Law Journal

Terence E. Smolev and Christina Jonathan of Terence E. Smolev, P.C. write: Life has become more complicated in recent years as advances have been made with respect to artificial insemination, and storing eggs and sperm for future use. Eggs can be fertilized by a sperm years after the eggs and the sperm were stored by. This certainly complicates estate planning and administration.

By Terence E. Smolev and Christina Jonathan

10 minute read

January 05, 2015 | New York Law Journal

Terence E. Smolev and Christina Jonathan of Terence E. Smolev, P.C. write: Everything the practitioner does in the estate planning field should be based upon defensive actions for the benefit not only of the client, but also for the attorney and staff, when and if a contest does in fact arise.

By Terence E. Smolev and Christina Jonathan

9 minute read

January 05, 2015 | New York Law Journal

Terence E. Smolev and Christina Jonathan of Terence E. Smolev, P.C. write: Everything the practitioner does in the estate planning field should be based upon defensive actions for the benefit not only of the client, but also for the attorney and staff, when and if a contest does in fact arise.

By Terence E. Smolev and Christina Jonathan

9 minute read

September 29, 2014 | New York Law Journal

Terence E. Smolev and Christina Jonathan of the Law Offices of Terence E. Smolev, P.C. write: Despite the creative efforts used by taxpayers to commit tax crimes, whether civil or criminal, the government is keen to the same and is always on the prowl for offenders.

By By Terence E. Smolev and Christina Jonathan

11 minute read

September 22, 2014 | New York Law Journal

Terence E. Smolev and Christina Jonathan of the Law Offices of Terence E. Smolev, P.C., write: Many people believe that if they do not have a Will, their property will automatically pass to those closest to them. Although sometimes this may be the case, the norm is quite the contrary. The bottom line is if you do not have a Will, the state will write one for you.

By Terence E. Smolev and Christina Jonathan

13 minute read

January 21, 2014 | New York Law Journal

Terence E. Smolev and Christina Jonathan of the Law Offices of Terence E. Smolev, P.C. write: 'Brewer', which started off with the complex issue of a mother's ability to collect from her children's estate, lead to the interesting question pending before the Nassau County Surrogate's Court, of where the money now goes.

By Terence E. Smolev and Christina Jonathan

11 minute read

September 16, 2013 | New York Law Journal

Terence E. Smolev, the principal of Terence E. Smolev, P.C., writes: Based on the growing complexity of multiple marriages and family dynamics, it is fair to say that the business of the Surrogate's Courts of the various counties will not diminish in the near future.

By Terence E. Smolev

7 minute read

September 21, 2009 | New York Law Journal

Terence E. Smolev, a partner at Forchelli, Curto, Deegan, Schwartz, Mineo, Cohn & Terrana, and Mary E. Mongioi, counsel to the firm, write: Taxes and the allocation of the burden to pay them can have a profound impact on the testamentary scheme contemplated by the testator. It is this possibility that should make even the most experienced draftsman amongst us sit up and take note before altering the statutory scheme and delegating the payment of tax to the residuary estate in a pro forma will clause. Such a provision was recently adjudicated in the Surrogate's Court, New York County, where, despite the existence of an apportionment clause which directed that all estate taxes be paid from estate assets as a debt of the decedent, the court found a creative way to shift the attendant tax burden to the non-probate beneficiary of a $3 million life insurance policy.

By Terence E. Smolev and Mary E. Mongioi

12 minute read

January 31, 2011 | New York Law Journal

Terence E. Smolev and Mary E. Mongioi of Forchelli, Curto, Deegan, Schwartz, Mineo, Cohn & Terrana write that in recent years, the insurance industry has seen the growth of a new "stranger oriented" use of life insurance policies. This has caused a complete review of the life insurance industry by regulators, insurance carriers, life insurance agents and customers of those agents.

By Terence E. Smolev and Mary E. Mongioi

10 minute read

September 19, 2011 | New York Law Journal

Terence E. Smolev, a partner at Forchelli, Curto, Deegan, Schwartz, Mineo, Cohn & Terrana, and Mary E. Mongioi, counsel to the firm, write that the failure to take into consideration the inherent conflict that exists when taking on multiple roles as a drafter of a will and the executor in probate can, and quite often does wreak havoc upon even the most competent of counsel.

By Terence E. Smolev and Mary E. Mongioi

17 minute read