As the new year begins, New York State is imposing a hefty new obligation on virtually all employers. As a result of the Wage Theft Prevention Act enacted last year, all private sector employers in New York must give each of their employees an annual written notice known as a “Notice of Pay Rate and…
The simple answer for most people is typically “YES”, although the reasons may differ. Below is a list (in no particular order) of reasons to do, or review your estate planning. _______________________________ 15 Most Common Reasons to Do (or Review) Your Estate Planning The desire to designate who will manage your affairs if you become…
As we now start the new year, and begin a new decade, it is a good time to do a bit of self examination and determine what (often ignored) personal and business legal issues may need to be addressed, and make a resolution to address those issues in 2010. Personal Legal Matters. On a personal…
Are you a business owner? If so, have you considered what might happen to your business if something happened to you tomorrow? Do you have a workable business succession plan in place in case you die, or as some might think, something even worse happens to you, you suddenly become disabled and no longer able…
An amendment to a New York State Labor Law went into effect on October 26, 2009. Employers are now required to give newly-hired workers written notice of the rate at which they will be paid and their regular payday. (New York’s Labor Law Sec. 195.1) The new law is intended to eliminate misunderstandings and pay…
The State of New York is currently holding billions of dollars of unclaimed funds for individuals, trusts, estates and businesses. Some of this money may belong to you! In fact, I have recovered over $7,500 from NYS belonging to myself and other family members. I have also assisted several clients in finding funds belonging to…
Have you or your family owned an investment property for a long time but are afraid to sell it because of the income tax consequences? If so, the time may be right to cash in, secure your profits and not pay any tax on the gain. Thanks to §1031 of the Internal Revenue Code, a…
A new law concerning New York powers of attorney becomes effective September 1, 2009. There are several major changes affecting the content and the execution of the power of attorney form: 1. AGENTS’ SIGNATURES: The form must be signed, dated and notarized, not only by the person making the appointment, but also by the agent…
The answer is usually Yes. No matter how small or simple your business is, problems can arise which can be more easily addressed if you have a Shareholder Agreement in place. Most shareholders in a company, especially at the inception of the company’s existence, believe that they share one vision with respect to the interaction…
