New York Law Journal | Analysis
By Ilene Sherwyn Cooper | March 29, 2024
As 2023 came to an end, and 2024 began to unfold, the Surrogate and Appellate Courts throughout the state have been busy issuing decisions of interest—not only to the trusts and estate practitioner but to the bar at large.
By Sareena Sawhney | March 14, 2024
Estate theft often goes undetected because family members cannot identify red flags or know how to investigate potential theft. This article identifies and discusses those red flags and the benefits of forensic accounting.
New York Law Journal | Analysis
By C. Raymond Radigan and Tara E. Mahon | March 1, 2024
A fiduciary does not have automatic authority under EPTL §11-1.1 to continue a business of a decedent, incur obligations and thus render the estate liable. However, courts have stated that a fiduciary has an inherent authority to temporarily continue a business for the limited exceptions of converting business assets to cash for the benefit of the estate.
New York Law Journal | Analysis
By Andrew Shore | February 29, 2024
On Jan. 1, 2024, the Corporate Transparency Act (CTA) came into force, requiring the vast majority of small limited liability companies, corporations…
New York Law Journal | Analysis
By Renee R. Roth and William P. LaPiana | February 26, 2024
It is well established law in New York that to be valid, a will, with minor exceptions, must be in writing. It appears this is about to change. A bill has been introduced in the New York Assembly, which adds a new Part 6 authorizing "electronic wills" to Article 3 of the Estates, Powers and Trusts Law.
By Scott Mollen | February 13, 2024
Scott Mollen discusses "The City of New York v. The Land and Building Known as 634 Nostrand Avenue a/k/a 1192 Dean Street," and "Stuyvesant Owners Inc. v. Frantino."
New York Law Journal | Analysis
By Ilene Sherwyn Cooper | February 2, 2024
As 2023 came to an end, multiple decisions of interest were rendered by the Appellate and Surrogate's Courts throughout the state. Decisions addressed to such issues as the determination of a claim against the estate, the criteria for a stay of proceedings and summary judgment are discussed below.
New York Law Journal | Analysis
By Joseph T. La Ferlita and Nicholas G. Moneta | January 26, 2024
On Dec. 29, 2023, the Office of the Chief Counsel of the IRS released Chief Counsel Advice Memorandum 202352018 (the CCAM). Although some have commented on the CCAM's impact on trust modifications, a further question is what impact, if any, will the CCAM have on trust decantings in New York?
New York Law Journal | Analysis
By Jeffrey A. Galant | January 26, 2024
In the annals of family business succession planning, this article discusses some clever, albeit flawed, attempts to transfer ownership interests in a mature enterprise to family members while avoiding the transfer tax toll.
New York Law Journal | Analysis
By Sharon L. Klein | January 26, 2024
In this article, Sharon L. Klein highlights the top 10 developments, lessons and reminders out of the trusts and estates field from the previous year.
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