Selling a business requires careful preparation and specific knowledge. Sellers who approach the sales process haphazardly often pay dearly for their carelessness. Prepared sellers, on the other hand, are often handsomely rewarded for their diligence. If you want to successfully sell your business in New York, it’s imperative that you avoid the following common...
Contesting a Will: Does it Make Sense?
Clients will often approach an attorney when they discover that a will of a family member is being probated in the courts. In fact, when an Executor offers a will for probate, he/she is required to send the decedent's next of kin a copy of the will. Family members then have an opportunity to...
Choosing a New York Business Entity
Before starting a business in New York, it’s important to have a basic understanding of the most common New York business entities. New York offers several options in this area. However, deciding which one to choose can be complicated. Therefore, if you own a business or plan on starting a business in New York,...
Beware the Drastic Changes to the Medicaid Transfer Rules
Effective October 1, 2020, New Yorkers who apply for Medicaid home care services will be subject to the same type of transfer penalty which up until now has been imposed only on applicants who require nursing home care. If you transfer assets in order to qualify for Medicaid assistance, then you will not only...
How Does Becoming a Florida Resident Affect My Estate Plan
There are a fair number of New Yorkers who decide to move to Florida, especially as they get older. Sometimes it is because of the warmer weather there, sometimes it is to avoid income tax and/or state estate tax. Regardless of the reason,if one is contemplating a move to Florida, or to any other...
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Five Tips To Successfully Buying a Business
Buying a business is a major undertaking that involves a number of considerations. It’s success or failure may not only affect you and your investors, partners, customers or clients, but often for your family members as well. This is especially true if you have younger siblings or children who may eventually inherit the company....
How to Effectively Draft Service Agreements
If you are in a service business of some type, it is just as important to have your agreements with clients be in writing as it is with companies that provide goods rather than services. The agreement can be quite simply but must contain some essential terms, namely a description of the services, the...
How to Create a Will in Florida
A properly executed will is the hallmark of a good estate plan. Each state has its own will requirements, and Florida is no different. Therefore, when drafting your will, it's imperative that you understand the laws that govern the validity of the document. In Florida, if your will fails to meet these requirements, the...
Estate Planning During this Pandemic
Now is the perfect time for one to get one's affairs in order, especially since most of us have a great deal of free time. Getting organized and having a plan will serve to alleviate anxiety about the future. First, one should compose a detailed list of important contacts--i.e., your accountant, financial advisor (s),...
How to Choose an Estate Executor
Estate planning is for everyone, especially those who are retired or close to retirement. One of the most important steps in the estate planning process is the selection of an estate executor. An executor is a person who is responsible for managing the affairs of a deceased individual's probate estate. If you...