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The Legal Intelligencer

Estate Planning for Children: The Best Gift a Parent Can Give to a Child

Structuring an inheritance for children requires an understanding of the specific needs of the child.
8 minute read

New York Law Journal

Planning Ahead for Tax Liabilities

A noteworthy aspect of such planning, and the focus of this article, is the benefit, if any, of planning in advance for the relief from certain federal income tax liabilities potentially available to a married couple who reside together.
11 minute read

New York Law Journal

Personal Liability of a Fiduciary for Claims Against an Estate

A fiduciary of an estate must carefully balance his or her responsibilities to creditors of the decedent and to beneficiaries of the estate. A fiduciary "must act in good faith in the treatment of both" creditors and beneficiaries.
5 minute read

New York Law Journal

Discretionary Trusts Present Vulnerabilities to Beneficiaries Without Prenuptial Agreements

In New York, assets held in trusts established and funded by a third-party for the benefit of a spouse are excluded from the marital property estate; however, if the beneficiary has access to a discretionary trust during the marriage, certain issues may still arise in a divorce.
8 minute read

New York Law Journal

Strategic Estate Planning Before 2026 BEA Change Can Protect Taxpayer Assets from Gift and Estate Tax

In 2017, Congress enacted the Tax Cuts and Jobs Act, doubling the estate and gift tax exemption. This increase is set to expire on Jan. 1, 2026, reverting to pre-TCJA levels. Taxpayers should understand strategies to take advantage of the increased exemption before it expires to shield their assets from future gift and estate taxes. Stephen L. Ferszt, chair of Olshan Frome Wolosky's Employee Benefits Practice discusses the complex landscape of estate planning and the critical decisions taxpayers need to make before the BEA rollback takes effect.
5 minute read

New York Law Journal

Stretching IRA Payments for Heirs: Using Charitable Remainder Unitrusts

The SECURE Act—starting in 2020— killed the stretch IRA for most heirs. Until that legislation, an heir could generally have required minimum distributions stretched over his or her life expectancy. And that minimized taxes—plus; the assets in the heir's IRA grew tax-free until withdrawn.
5 minute read

New York Law Journal

Bar Association Groups Issue 'Not Approved' Ratings for Candidate in Competitive Queens Surrogate Judge Race 

The candidate who received "not approved" ratings issued a statement calling each bar groups' rating processes a "miscarriage of justice against a previously approved Civil Court judge."
3 minute read

Daily Business Review

Asset Allocation With Alternative Investment: The Significance of Pacing in Portfolio Construction

The rapidly increasing introduction of new sophisticated quantitative models, advanced technologies and new regulations surrounding private investments will create more questions and complexities to address in years to come. Recognizing these emerging challenges and opportunities, savvy investors may fundamentally adjust their alternative investments allocation procedures to a more rigorous and professional level.
9 minute read

Daily Business Review

Florida Attorney, Wife of Frank Lloyd's Nephew Sued in Miami State Court

Pierre Levai began his career under the mentorship of Frank Lloyd and become his uncle's right hand man in the world's leading art galleries.
4 minute read

Daily Business Review

The Florida Fiduciary Access to Digital Assets Act Gave Me a To-Do List

The FFUADAA was designed to provide fiduciaries legal access to digital accounts and devices within scope of their fiduciary duties, without concerns for unauthorized access or impersonating the user, while giving the digital custodians assurances that they were not violating privacy laws in providing access or information to the user's fiduciary.
5 minute read

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