Information for estate income & gift tax questions

Buffalo Real Estate Attorney Discusses Advantages of LLCs for Real Estate Investors

Buffalo Real Estate Attorney Discusses Advantages of LLCs for Real Estate Investors

Buffalo Real Estate Attorney Discusses Advantages of LLCs for Real Estate Investors As a Buffalo Real Estate and Business Attorney, I am often asked whether a LLC should be used for holding real estate. I greatly recommend that for a number of reasons including and foremost is liability protection. It also provides for a good…

How Soon Does A Will Have To Be Filed With The Courts In The Buffalo, NY Area After A Person Dies?

How Soon Does A Will Have To Be Filed With The Courts In The Buffalo, NY Area After A Person Dies?

How Soon Does A Will Have To Be Filed With The Courts In The Buffalo, NY Area After A Person Dies? There is no time limit on filing a will with the Surrogate’s Court, which has oversight of the validity of wills and beginning the probate process. There are good reasons to act promptly to…

How Can I Protect My Heirs From Excessive Tax Penalties When They Inherit My Estate In The Buffalo, NY Area?

How Can I Protect My Heirs From Excessive Tax Penalties When They Inherit My Estate In The Buffalo, NY Area?

How Can I Protect My Heirs From Excessive Tax Penalties When They Inherit My Estate In The Buffalo, NY Area? Estate planning is a key component of ensuring that your wealth passes to your loved ones with minimal interference from the IRS. There are as many approaches to estate planning as there estates, but in…

Are Handwritten Wills That Are Properly Witnessed And Notarized Acceptable In The Buffalo, NY Area?

No, under the laws of the State of New York, a handwritten will (known as a “holographic” will) is only acceptable under very limited circumstances, such as military personnel or support staff who have been deployed during wartime, or mariners at sea. In both of these cases, holographic wills expire after a set period of…

Springing Power Of Attorney For Estate Planning In The Buffalo, NY Area?

Powers of attorney are agreements where a person is empowered to act on your behalf in matters of your estate, insurance, taxation, and other specified tasks. There are two types of power of attorney agreements, immediate powers of attorney and springing powers of attorney. With an immediate power of attorney, you give another person, often…

Seminar: How NY Real Estate Investors Can Avoid Probate & Estate Taxes

“How NY Real Estate Investors Can Avoid Probate & Estate Taxes” will be presented by Robert Friedman of Friedman & Ranzenhofer, PC Attorneys at the Buffalo Investors & Exchangors Group meeting on October 21, 2014 at 7:00 PM at the Millennium Hotel, 2040 Walden Avenue, Cheektowaga, NY. Drawing on over 35 years of estate planning…

When Should I Update My New York Will?

The following events may require you to update your New York will so that it is coordinated with your other estate planning documents and non-probate assets. This will ensure that your wishes are carried out. There is a major change in your assets or financial status, such as the purchase or sale of real estate.…

NY Power of Attorney Checklist

AGENTS ACT SEPARATELY: If you designate more than one agent ,they must act together unless you initial the statement that they may act separately. The POWER OF ATTORNEY DOES NOT REVOKE any Powers of Attorney previously executed unless you so state under “Modifications”. GRANT OF AUTHORITY: You may grant authority to your agent(s) with respect…