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Tuesday, May 10, 2016, 11:00:00 am

The New York Power of Attorney statute has undergone many changes since 2009. What was once a one page form can now easily be a four to ten page form. Currently proposals have been submitted to again revise the Power of Attorney forms to make the form more understandable and decrease the chance of ...

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New York Estate Credit Increases

Tuesday, May 3, 2016, 2:34:00 pm

Effective April 1, 2016, New York taxable estates less then $4,187,500 are not subject to New York estate tax. Although, not as large as the Federal basic exclusion amount (currently $5,450,000), the increase in the New York exclusion amount eliminates the need for an estate tax return to be filed ...

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I am looking for an attorney to represent my business. What should I consider?

Monday, January 11, 2016, 11:00:00 am

You should seek to develop a relationship with an attorney who understands you and your business.

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Is a commercial tenant obligated to pay tax increases that result from a landlord's improvements?

Friday, December 11, 2015, 2:00:00 pm

This type of lease provision is analyzed on a case-by-case basis.

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Does the need for Trusts still exist?

Friday, November 13, 2015, 1:00:00 pm

There are multiple reasons to fund a Trust. Some include, disabled beneficiaries, minors, elderly parents, etc. 

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Recently, NYS has changed the law relating to Not-For-Profit Corporations. Do we need to make any changes?

Tuesday, October 27, 2015, 12:00:00 pm

You should examine your organization's current governing documents to see what may need to be changed. 

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My company is an LLC, do I still need to have business insurance?

Monday, September 21, 2015, 10:30:00 am

Business insurance remains necessary and will complement your company form and its day-to-day operation. 

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There appears to be oil and gas activity in the area. Will I be able to develop the oil and gas beneath my land?

Tuesday, August 18, 2015, 12:30:00 pm

Purchasing a piece of property does not guarantee that you will also acquire the mineral rights.

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Do I need to allow my employees to use my company's email system for personal use?

Friday, July 10, 2015, 2:30:00 pm

It is advisable to adopt polices establishing all parties' rights and expectations. 

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I own a small startup company and I need money to expand, should I apply for a bank loan or look to sell stock in the company?

Tuesday, June 16, 2015, 1:00:00 pm

It is important that business owners weigh all of their financial options.

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I would like to transfer stock of my corporation to my three children who each work for the business. Is this possible?

Thursday, May 28, 2015, 2:00:00 pm

Yes. In similar situations, we have recapitalized the corporation so it has voting and non-voting shares. 

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My company employs fifteen employees, am I required to offer COBRA coverage to my employees?

Friday, May 15, 2015, 12:00:00 am

Yes. The "20 or more" threshold is applicable to federal COBRA laws.

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Updating and Reviewing Estate Plans

Thursday, April 16, 2015, 9:00:00 am

New York State and the Federal government have increased the amounts that can be paid to heirs estate tax free. For many clients the new estate tax rules have simplified estate plans. However, estate taxes are not the only issue to address when planning for your heirs. Wills can become outdated. ...

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What is my obligation as a business owner to protect private information from theft?

Friday, March 20, 2015, 12:00:00 am

Q. What is my obligation as a business owner to protect private information from theft? A.While privacy protection is not normally your main priority, the risk of private information being stolen continues to grow as your dependence upon the internet increases. A privacy breach occurs when ...

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How to Implement an Exit Strategy After Owning a Successful Business?

Monday, February 9, 2015, 12:00:00 pm

Question: I have built a successful manufacturing business that now has substantial value. How do I implement an exit strategy that will allow me to retire? Answer: Ask yourself. (1) What is my business really worth? Even though you think you might have a good idea of what your business is ...

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Friday, February 6, 2015, 3:00:00 pm

According to the U.S. Travel Association, more than 20 million Canadians visit the U.S. on overnight trips, with New York State being the primary destination. Most of our neighbors to the north, particularly from the Greater Toronto Area (GTA), travel by motor vehicle into New York State by way of ...

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How can a Commercial Tenant Protect its Intrests Entering into a Lease with a Landlord who has a Mortgage?

Monday, January 12, 2015, 12:00:00 pm

Question: When a commercial tenant plans to enter into a lease, with a landlord who has a mortgage on the leased premises, what should the tenant do to protect its interests? Answer: Although there are many provisions in a commercial lease that are important to protect tenants’ interests, ...

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Does the National Labor Relations Board (NLRB) have Jurisdiction Over Employment Policies and Practices in Non-Union Workplaces?

Monday, December 15, 2014, 12:00:00 pm

Question: Does the National Labor Relations Board (NLRB) have jurisdiction or authority over employment related policies and practices in non-union workplaces? Answer: Yes. Although historically the NLRB has primarily been concerned with unionized workplaces and collective bargaining issues, ...

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Trust Planning

Monday, November 10, 2014, 12:00:00 pm

For many years trusts were thought of as an estate planning tool for the wealthy. Many trusts were established to minimize Federal and New York State estate taxes while maximizing the amount couples could pass to their children estate tax free. Federal estate tax credits currently allow you to ...

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Understanding employee benefit plans and how premiums are paid

Saturday, November 1, 2014, 12:00:00 am

Q: My company offers an employee benefit plan including long-term disability insurance. Participation is voluntary and participants are given the option of paying the disability insurance premiums with pre-tax or post-tax dollars. Does it make a difference how the premiums are paid? A: Be assured, ...

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Setting Up a Successful Succession Plan (Say that 3x Fast)

Wednesday, October 1, 2014, 12:00:00 am

Q: I own a successful family-owned business. How can I put in place the best succession plan and realize upon all of my “sweat equity” in growing the business? A: The most important component in answering this question is to first identify who will be the successor owner of your family ...

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New York State Anti-Subrogation Law Survives Federal Appeals Court

Wednesday, September 17, 2014, 12:00:00 am

On July 31, 2014, the United States Court of Appeals, Second Circuit vacated the judgment of the Eastern District of New York in Wurtz v. Rawlings Co., LLC, upholding New York State’s anti-subrogation law as codified in New York General Obligations Law §5-335. Wurtz v. Rawlings Co., ...

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Changes to New York State Wage Deduction Statute and Regulations

Wednesday, July 23, 2014, 12:00:00 am

Recently, New York Labor Law Section 193 was amended to give employers increased flexibility with advances and payroll deductions. Essentially, the amendment gives employers greater leeway with making deductions from employees’ paychecks. The previous version of Section 193 only allowed ...

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My customer just filed Chapter 11 bankruptcy. Do I have to continue doing business with them?

Monday, July 21, 2014, 6:00:00 am

Q: My customer just filed Chapter 11 bankruptcy. Do I have to continue doing business with them? A: If you are a supplier selling to a customer on an open account, you do not have to continue providing credit to the customer after the customer’s bankruptcy case has begun. Assuming you have ...

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Five Years of Riding Together for a Cure

Monday, July 7, 2014, 12:00:00 am

For the fifth consecutive year, more than fifty riders and a dozen volunteers joined the Gross Shuman Ride for Roswell team to find a cure for cancer.

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May an insurance broker be held liable for failing to advise a client to obtain insurance coverage?

Wednesday, June 11, 2014, 6:00:00 am

Q: May an insurance broker be held liable for failing to advise or direct a client to obtain particular insurance coverage? A: Liability depends on the parties’ relationship. Recently, New York’s highest court reaffirmed that brokers normally have a duty to obtain requested coverage, ...

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Are post-employment restrictive covenants enforceable in New York?

Monday, May 19, 2014, 11:00:00 am

Q: Are post-employment restrictive covenants, such as non-solicitation and non-competition agreements, enforceable in New York? A: Yes, but it is crucial for an employer to narrowly tailor post-employment restrictions to protect legitimate business interests. Recent cases emphasize the need to ...

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New York Estate Tax Exemption has been Increased?

Friday, May 9, 2014, 12:00:00 am

The good news is that when the Governor signed the 2014/2015 New York State budget, it included a substantial change to the New York State estate tax. Starting April 1, 2014 the amount of assets that can be left to a non-spouse beneficiary that is free of New York State estate tax has been ...

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What should I do to protect my company should my employee be involved in an accident while using her car for work?

Thursday, April 24, 2014, 6:00:00 am

Q: My employee occasionally drives her personal vehicle for business purposes. What should I do to protect my company should she be involved in an accident while using her car for work? A: An employer is by law responsible for the actions of its employee when the employee is acting within the ...

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Can communications via e-mail be treated as a binding contract?

Thursday, March 13, 2014, 11:00:00 am

Q: Can communications via e-mail be treated as a binding contract? A: Generally speaking, contracts can be formed orally or by e-mail. However, in certain situations the New York Statute of Frauds requires agreements be reduced to writing and signed. In these instances, developing case law is ...

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