On April 1, 2014, Governor Cuomo signed the New York Executive Budget for 2014-2015.
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The Stowe Law Firm, LLC is now offering an estate planning questionnaire that can be completed online. You can use your mobile phone, tablet or computer to complete your questionnaire and you no longer have to go through the cumbersome task of filling out a PDF or completing the questionnaire by hand.
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When you consider your estate plan you often think about your home, bank accounts, family heirlooms, etc. Many do not consider their digital "footprint".
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You often hear that the LLC is more "flexible" than a corporation. Corporations and LLCs are created by statute, meaning that the state grants the authority to exist upon the filing of the appropriate paperwork and compliance with the necessary steps.
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An important part of estate planning is reviewing beneficiary designations. It is important to review these to ensure that they match your overall goals and intentions.
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In residential real estate purchases, your lender will generally require that you purchase title insurance to protect the interest of the lender.
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The IRS announced the 2015 Federal Estate Tax exemption is increasing $90,000 to $5.43 million per person.
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Many believe that your new business is better served by forming the LLC in Delaware or Nevada to reduce costs and to avoid New York's publication requirement. If you intend to do business in New York using a LLC that was formed in another state, you must comply with the foreign LLC requirements under New York law.
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A trust is a written arrangement by which one person (trustee) holds property for the benefit of another person or persons (beneficiary).
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Many people think that because they do not have one million dollars in a bank account that they should not be concerned with New York State's estate tax. However, it is important to know what is included in an estate for estate tax purposes.
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