Offices of Moritt Hock & Hamroff at 400 Garden City Plaza, Long Island. Photo: Rick Kopstein/NYLJ Moritt Hock & Hamroff Adds Seven Lawyers From Trusts and Estates Boutique
The acquisition increases Moritt Hock's head count to 76 and doubles the size of its trust and estates practice.
February 06, 2019 at 04:57 PM
2 minute read
Midsize firm Moritt Hock & Hamroff has absorbed a small trusts and estates firm in Long Island.
Seven lawyers from Uniondale-based Karol & Sosnik on Feb. 1 joined Moritt Hock, a firm based in nearby Garden City.
Boutique founders Howard Sosnik joined the firm as counsel in Naples, Florida, and Louis Karol joined as a partner in Garden City and will become chair of Moritt Hock's business succession group. With the new hires, Moritt Hock took over the boutique's lease in Naples, a new location for the midsize firm. The firm also maintains a Manhattan office.
The boutique represented individuals and businesses in estate planning and business secession planning. The acquisition increases Moritt Hock's head count to 76 and doubles the size of its trust and estates practice to more than a dozen lawyers.
Discussion between the two firms arose when Marc Hamroff, managing partner at Moritt Hock, and Karol sat on a board together, Hamroff said. After getting to know each other and referrals of work, they discussed opportunities that may exist if Karol and his colleagues took their practice to a broader platform, Hamroff said.
Hamroff said the firm didn't specifically set out to grow its trusts and estates practice but the additions fit within the firm's strategy to focus on its core areas in the midmarket and to take advantage of opportunities. “As long as it is a practice we understand that we already know and it's accretive to what we do,” he said, the firm wants to be “be opportunistic.”
Hamroff said he expects the Naples office, even with just one attorney, to be busy due to more individuals relocating from New York to Florida to avoid consequences of the 2017 tax reform law.
He declined to specify the book of business the group may bring to the firm, but said it may result in a 7 to 9 percent increase in revenue.
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