Estate and Elder Law

Recent Posts

John Dedon on Estate Planning – Staying Current
Posted on 11 Jul 2014 by John Dedon

Attached below is a July 3, 2014 Forbes article detailing the need for clients to review and update their estate plans. Now that I have been in practice for 30 years, approximately 25 percent of the legal work that I do comes from existing clients updating... Read More

Ask Liza: When does a Will Make Sense?
Posted on 19 May 2015 by Liza Weiman Hanks

Dear Liza: A friend of mine is considering a living trust. The only property he has is a coin collection maybe worth around $15,000. He has an adult daughter who he doesn’t communicate with and does not want her to get anything. He would like to... Read More

Ask Liza: Paying Capital Gains on Appreciated Assets
Posted on 25 Jun 2015 by Liza Weiman Hanks

Dear Liza, My father passed away in 2002 when the federal estate tax limit was $1million. At that time my mother chose to put their home in the Bypass Trust. She has now passed and the home is worth $1.4 million. Do we inherit tax free or pay taxes on... Read More

John G. Farinacci: Abandonment Cases in Surrogate’s Court Present Difficult Factual Issues
Posted on 18 Feb 2014 by John G. Farinacci

By John G. Farinacci Naturally, abandonment and failure to meet support obligations are two grounds upon which an otherwise lawful heir can be disqualified from inheriting in New York as in most other jurisdictions. EPTL 5-1.2. Failure to support is... Read More

John Dedon On Estate Planning: 1031 Exchanges And End Of Year Planning
Posted on 5 Nov 2014 by John Dedon

My partner, David Lawrence, is an expert on Section 1031 tax-free exchanges involving investment real estate. His thoughts regarding end of year planning and the advantages of 1031s is below. Tax Straddling When Selling Investment Property Between... Read More

Elaine Gagliardi on Proposed Treasury Regulations Clarifying I.R.C. Section 1022 Carryover Basis Rules
Posted on 28 Jul 2015 by LexisNexis Legal Newsroom Staff

By Elaine Gagliardi Proposed treasury regulations have been promulgated to clarify the interaction of the I.R.C. Section 1022 carryover basis rules with other sections of the Internal Revenue Code. In this Emerging Issues Analysis, Elaine Gagliardi... Read More

John Dedon on Estate Planning: Buy-Sell Arrangements and Irrevocable Insurance Trusts
Posted on 16 Jul 2015 by John Dedon

A common estate planning strategy for people with taxable estates is to have an irrevocable trust own life insurance, rather than owning the insurance themselves. Even with the current amount an individual can protect from estate tax at $5,340,000, some... Read More