Last week, the House voted 225 to 220 to permanently extend the estate and gift tax in its current form. This means that the first $3.5 million of an individual’s gross estate – and the first $1 million of gifts made during an individual’s lifetime – would be exempt from tax. The highest rate applied to the taxable portion of an estate would remain at 45%.
The Million Dollar Advocates Forum is pleased to announce that attorney Corey J. Hogan of the law firm of HoganWillig has been certified as a member of the Multi-Million Dollar Advocates Forum.
Though “going green” was once seen as a niche concept reserved for a small segment of the business population, area law firms are seeing the value in adopting green policies.
August 1st – HoganWillig is pleased to announce its merger with the law firm of Lorenzo and Cohen. This merger marks the most significant growth in the firm’s history as we crest the 30-attorney marker. HoganWillig is suburban Western New York’s largest full service law firm with 31 attorneys and a total staff of 90 employees.
A Power of Attorney is an important document that allows you (“the principal”) to appoint an agent to make decisions concerning your legal and financial matters in the event you are unable to do so for yourself. If you have not executed a Power of Attorney document and you become incapacitated, a guardianship court proceeding will be required to authorize someone to make legal decisions on your behalf. A guardianship proceeding can take several months and cost several thousand dollars to complete. The good news is that creation of a valid Power of Attorney can avoid the necessity of a guardianship proceeding. As such, the execution of a Power of Attorney document is a very important estate planning tool.
Make sure you know the rules.
The old adage “get it in writing” is critical when it comes to commissioned sales employees. In fact, the New York Labor Law provides that you must have a detailed written agreement that is signed by both the employer and the commissioned sales employee.
On June 9, the Consumer Assistance to Recycle and Save Act was passed by the US House of Representatives. The intent of the legislation is to reduce the number of inefficient vehicles on the road while, of course, spurring vehicle sales for the troubled auto industry.
HoganWillig’s new building (and its interior office space) will be one of the first commercial LEED certified office buildings in Western New York. “LEED “stands for Leadership in Energy and Environmental Design. The design and construction of the building will be rated in seven different categories: Sustainable Sites, Water Efficiency, Energy and Atmosphere, Materials and Resources, Indoor Environmental Quality, Innovation in Design, and Regional Priority.
Domestic violence is a far more prevalent problem than most people realize. By some estimates, as many as one in three women have been abused by an intimate partner. While domestic abuse occurs more commonly against women, men can be victimized as well.
Uncertainty in life is a certainty. Our lives are in a constant state of flux, which requires planning in order to be in a position to address the unforeseen. Estate Planning and Asset Protection applies to almost everyone, regardless of age. As a person ages, they may be concerned about planning for the cost of their care while continuing to maintain their lifestyle, and about transferring their wealth to their children with minimal tax consequences.