By Dilpreet Rai and Alyssa Rower | June 27, 2024
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.
By Stephen L. Ferszt | June 25, 2024
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.
New York Law Journal | Analysis
By Conrad Teitell | June 21, 2024
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 And that minimized taxes—plus; the assets in the heir's IRA grew tax-free until withdrawn.
By Andrew Denney | June 19, 2024
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."
Daily Business Review | Commentary
By Javier Martin | June 11, 2024
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.
By Michael A. Mora | June 6, 2024
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.
Daily Business Review | Commentary
By Jennifer L. Fulton | June 6, 2024
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.
New York Law Journal | Analysis
By Ilene Sherwyn Cooper | May 31, 2024
As the winter season concludes and we enter the year's half-way mark, Ilene Sherwyn Cooper notes several decisions rendered by the Surrogate's and Appellate courts affecting the field of trusts and estates.
The Legal Intelligencer | Commentary
By Amy Neifeld Shkedy and Rebecca Rosenberger Smolen | May 29, 2024
In this article, we highlight some of the SECURE 2.0 changes, many of which have gone into effect for the first time this year.
Daily Business Review | Commentary
By Melissa C. Steen and Peter A. Sachs | May 22, 2024
It is paramount that a person cultivates an estate plan which clearly sets out their preferences. This should often include a discussion with their trusted loved ones about how they want their interests represented if they become incapacitated.
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