Our Law Blog

  • 7 Common Mistakes To Avoid When Naming Life Insurance Beneficiaries

    || 7-Jun-2017

    When you buy a life insurance policy, you should name a beneficiary. The beneficiary to whom the proceeds would be paid first is called the Primary Beneficiary. The secondary or Contingent Beneficiary is the person who would be paid the proceeds if the Primary Beneficiary predeceases. This sounds simple, but designating life insurance beneficiaries can be tricky and when mistakes are made they may ...
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  • Steven M. Adler's NAEPC Accreditation

    || 6-Apr-2017

    Recently, our founding attorney Steven M. Adler was accredited by the National Organization of Professional Estate Planners (NAEPC). The NAEPC is a national network of affiliated estate planning councils and credentialed professionals who have come together to achieve estate planning excellence. It helps establish and monitor the highest professional and educational standards among estate planning ...
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  • Executor News Letter

    || 30-Mar-2017

    So you were named to serve as an Executor … now what? An Executor of an estate has many duties beginning at the moment the testator dies and continuing until all beneficiaries have been paid and the estate is closed. Depending on the size of the estate and challenges which may be present, an executor’s role could continue for years. Most Executors will hire an Estate Attorney to help ...
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  • Added Peace of Mind

    || 14-Feb-2017

    While the importance of setting up at trust to take care of the future needs of a loved one, sometimes the work and fees that are associated with it make it prohibitive for some families. In these instances, however, there is still another option: Pooled Trusts. A pooled trust makes sound financial sense for those families for whom setting up an individual supplemental needs trust not be an ...
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  • EP Under Trump

    || 14-Feb-2017

    Just when it seemed as though the federal estate and gift tax laws were pretty much settled, enter Donald Trump as President and a Republican majority in both houses of Congress. Mr. Trump’s election brings about the potential for significant changes in federal estate and gift taxes. Currently, there is a $5,490,000 per person federal estate and gift tax exemption (increased from $5,450,000 ...
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  • NEW Digital Asset Bill Just Passed

    || 21-Dec-2016

    On September 29, 2016, a bill was signed into law by Governor Cuomo adding Article 13-A to the New York Estates Powers and Trust Law (the "EPTL"). This legislation is New York State's version of the "Uniform Fiduciary Access to Digital Assets Act" (the "Act") which nineteen (19) other states have also enacted into law. The Act is effective immediately. It is meant ...
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  • Getting Auto Insurance After A DUI

    || 14-Oct-2016

    Driving under the influence (DUI) is dangerous but a DUI charge can also negatively impact your car insurance premiums, perhaps more than any other driving violation. Along with fines, legal fees, and court costs, your car insurance premiums will almost certainly go up if your insurance company doesn't drop your coverage altogether. Rates for new or existing auto insurance will almost ...
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  • If you make a mistake when naming beneficiaries of your life insurance policies, the people you love the most could end up getting hurt. In this article, we have put together a list of 10 life insurance beneficiary mistakes which you must try to avoid, and how best to fix them: 1. Naming Minor Children. If proceeds of your life insurance are payable to your minor children (instead of to a trust ...
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  • What Should You Be Doing With Your Tax Refund This Year?

    || 30-Sep-2016

    Approximately three out of four taxpayers receive a refund each year. And most people are surprised to learn how sizable that refund actually is. In the coming weeks, taxpayers will have to decide what to do with their refund. A recent National Retail Federation survey found that approximately one in 10 taxpayers plan to use their refund to invest in a major purchase, and nearly 15 percent will ...
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  • What Planning Could Prince Have Done?

    || 29-Sep-2016

    The recent death of Prince is an unfortunate lesson for us all. You are probably wondering if estate planning is for you. Your estate is comprised of everything that you own. If you would prefer your assets and personal belongings to go to whom you want, then I urge you read the information I have placed below. I gave a talk at a luncheon recently about the demise of Prince and how not having a ...
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  • The Benefits of Business Succession Planning

    || 27-Sep-2016

    Your business was built by years of hard work and long hours, and it's probably one of your most valuable assets. An asset that you will want to be in control of how it is transferred and to whom. Selecting the right successor may be easy for some, but not so easy for others. Sometimes the logical choice is to sell the business outright, while other times a business is a legacy that a business ...
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  • Are You Considering Estate Planning?

    || 16-Sep-2016

    Are you wondering if estate planning would benefit you and your loved ones? Whether you know it or not, you have an estate. Your estate is comprised of everything that you own and this includes your vehicles, your home, investment property, your business, personal belongings, jewelry, collectibles, investments, bank accounts, and just about anything you can put a price tag on. If you would prefer ...
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  • Six Mistakes To Avoid When Hiring an Estate Planning Attorney

    || 22-Jun-2016

    Hiring the right estate planning attorney can make you feel empowered to make the best decisions for yourself and your family regarding your future. It’s important, however, that you make sure you hire a legal professional who will meet your specific needs. In this blog, we share six common mistakes to avoid when hiring an estate planning attorney. Mistake #1: Seeking Online Options Avoid ...
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  • Digital Asset Planning

    || 20-May-2016

    Given the breadth of digital assets it’s difficult to know where our survivors would start, other than that they would likely be overwhelmed. Further complicating these matters is the uncertainty of existing ownership and transferability laws that do not adequately address the category of property known as “digital assets.” What are Digital Assets? Digital assets are broadly ...
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  • Get Started With Your Business Planning

    || 12-Apr-2016

    This month I'd like to share some important information about business planning and our own personalized business approach. Before forming your entity, we want to get to know you and learn about the things that are important to you. While other firms view the formation of your business entity as the end of the transaction, we see it as the beginning of a long-term relationship during which we ...
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  • The Caregiver's Survival Guide

    || 8-Mar-2016

    This month I'd like to share with you some vital information that most of us with elderly parents or children with special needs can relate to... caregiving for loved ones. My client and dear friend, Joan Swirsky, an award-winning author and journalist, recently wrote a book about the subject. I was a contributor and would like to share it with you. Below I've highlighted some points from ...
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  • Reduce Your Real Estate Taxes

    || 17-Feb-2016

    If you do not challenge your assessment, your real estate taxes will probably increase in order to make up for the tax reductions to those people who do successfully challenged their assessment. Accordingly, you should challenge your assessment now, even if you did so last year. My company, COBRA Consulting Group, will challenge your assessments and you pay no fee if there is no reduction. The fee ...
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  • Probate: Laying Out All of Your Options in 2016

    || 16-Feb-2016

    Whether you are facing a probate or an administration of a loved one's estate, having an attorney guide you through the process will be extremely beneficial, whether you are a fiduciary, a related family member or simply a beneficiary with interests in the estate. If you are planning for the future of your estate, then you may be wondering which documents are right for you. Give us a call to ...
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  • Estate Planning for the New Year

    || 21-Dec-2015

    New Year's is not only a time for travel and reflection, but a time for planning. When you look at your family plan what do you see? Are you comfortable with how you've handled your own estate planning, asset protection, and planning for your vacation? Now is the time to review and renew your contract to yourself, your kids and your family. New Year's is not only a time for travel and ...
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  • If You Are Getting a Divorce, Change Your Will

    || 28-Oct-2015

    When our firm handles a divorce, we reference the client’s Last Will and Testament in the Divorce Settlement Agreement. During divorce, many people worry about how their property will be distributed between them and their spouse at the end of the divorce. However, few consider how their property will be distributed in the event of their death before the divorce is finalized. There are two ...
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  • Yes! You Can Take These Tax Deductions in 2015!

    || 19-Mar-2015

    Crazy as it sounds you can include the following items in figuring your expense deductions. This list does not include all possible expenses so be sure to ask your tax professional if an expense not listed can be included in figuring your expense deductions. Bingo Losses The bad news is that your bingo winnings are fully taxable income. But the good news is that you can claim gambling losses up to ...
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  • The deadline for Nassau County Homeowners to grieve their Real Estate Taxes is March 2nd

    || 20-Feb-2015

    We want to remind all homeowners in Nassau County that they have until March 2nd to file a complaint with the Assessment Review Commission to reduce their real estate taxes. If you would like to commence your tax certiorari proceeding now, please go to www.cobracg.com or call Steven Adler here at the firm.
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  • Facebook enters the World of Estate Planning

    || 20-Feb-2015

    Death in the digital age is a lot more complicated than it used to be. Traditionally, fiduciaries and family members start administering an estate by reading the individual's mail and sorting through records at the person's home. However, with online accounts, paperless billing, and social media sites like Facebook, these traditional approaches may not be available to fiduciaries today. ...
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  • Probate vs. Non-Probate Assets

    || 13-Jan-2015

    Probate Assets are any assets that are owned solely by the decedent and therefore, they become property of the estate of a decedent. These assets can include the following: Real property that is owned solely by the decedent - title must be in the decedent's name only or held as a tenant in common. Some examples are a primary residence, vacation property or investment real estate; Personal ...
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  • When will I get my Inheritance

    || 17-Dec-2014

    It would be presumptuous to assume that funds would be available within a month or so. The probate / administrative process can take several months or longer, so it would not be wise to buy that new car or big ticket item that you've had your eye on. Unfortunately, the distribution of inheritance cash or checks is the last thing that the executor or administrator of the estate will do. So why ...
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