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Estate Planning for the Blended Family

Preparing a will and estate plan for a blended family can be complicated, and strain family relations. These days, many families include children, stepchildren, former spouses and in-laws. The number of remarriages has been steadily rising over the past few decades. By some accounts, in 2013, 40 percent of marriages included at least one spouse […]

Gov. Cuomo Proposes Changes to NYS Estate Tax

New York is one of only fourteen states that tax estates. That means in addition to the federal estate tax, a New York estate could be paying another 9% – 16% to Albany – a fact that some believe is leading to a migration from New York to other states. Governor Andrew Cuomo’s new budget […]

Important statutory changes in NY divorce law effective January 31, 2014

The Combined Parental Income Cap under the Child Support Standards Act, i.e., the amount of parents’ combined income that will be applied to the formula for calculating child support, has been adjusted from $136,000 to $141,000;  and The Income Cap under the Temporary Maintenance Guidelines has been adjusted from $524,000 to $543,000.

Preparing for Divorce

Although no two divorces are exactly the same, there are a number of things that can be done to make the process more efficient. First, even before meeting with your attorney, organize your paperwork so that your attorney will have a more accurate idea of the financial issues:  make copies of tax returns, bank statements, […]

The O’Brien doctrine in NY Divorce Law

A recent Appellate Division decision highlights the ongoing saga of the O’Brien doctrine, which held that an educational degree obtained during the marriage has a monetary value which can, and at times should be divided between the parties. In McCaffrey v. McCaffrey, — A.D.3d –, — N.Y.S.2d — (App. Div. 3rd Dept. June 06, 2013) […]