Wishing everyone a very happy holiday season.
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The IRS recently announced the updates to the federal estate and gift tax rates for 2016. Under federal law, the rates are tied to inflation and are reviewed annually for changes.
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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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