|The Firm Welcomes Daniel J. Fetter|
We are pleased to announce that on September 6, 2016, Daniel J. Fetter joined the firm as an associate attorney and a member of the Agricultural Services, Business and Tax, and Estate Planning and Wealth Preservation Practice Groups.
His practice areas focus on business transactions, succession and estate planning.
Dan is a graduate of the State University of New York at Oswego and a cum laude graduate of Ohio Northern University, Claude W. Pettit College of Law.
Please join us in welcoming Dan to the firm!
To contact Dan, please click here [Dan
|Should I Update My Estate Plan?|
|By: Meghan A. McGrattan|
Once an estate plan is established, it is important to revisit the plan periodically to ensure that it fits life's ever-changing course. Certain events should prompt you to review and evaluate your estate plan.
|New York Approves "ABLE Account" for Disabled|
|By: Shane M. McCrohan|
On December 22, 2015, Governor Cuomo signed legislation establishing a New York State program for the use of tax-advantaged savings accounts ("ABLE Accounts") by disabled individuals.
An ABLE ("Achieving a Better Life Experience") Account allows for funds to be distributed tax-free for the payment of "qualified disability expenses" of a disabled individual whose disability occurred prior to attaining age 26.
To learn more able ABLE Accounts, please click here [ABLE Accounts
|IRS Proposes to Curtail Valuation Discounts to Family-Controlled Entities|
|By: Thomas Bezigian, Jr.|
On August 4, 2016, Proposed Regulations were issued by the IRS which, if finalized, will reduce and potentially eliminate common valuation discounts that have been utilized by families in connection with inter-generational transfers of interest in closely-held and family-controlled business entities.
|The Perils of IRA Beneficiary Designations: When Even a Judge Can't Save You|
By: Thomas Bezigian, Jr.
One of the benefits of an Individual Retirement Account (IRA) is that its favorable tax treatment can continue upon the owner's death, to the advantage of the named beneficiaries. With the prevalence of trusts in estate planning, extra caution must be taken when completing beneficiary designations.