The protection of assets and their transfer to future generations require an understanding of the unique goals of the client. This personalized planning also requires a mastery of the legal complexities of wills, trusts, business succession and retirement planning, and related estate and gift tax laws.
The attorneys in our Estates and Trusts group counsel individual clients and their families, closely-held businesses, charitable foundations and fiduciaries in this important area of the law. We assist clients in the preparation of wills, trusts and other documents directing the management and transfer of their property. Understanding that clients are concerned about long term preservation of assets, we incorporate counsel on estate and gift tax issues as part of the estate planning process. We also assist clients and their families in anticipating the difficult transitions that may occur in the event of incapacity and help them navigate the maze of regulations related to medical and nursing home care.
We assist closely-held businesses in the preparation of agreements and compensation arrangements designed to keep the business in the family, including family limited partnership and limited liability company agreements, as well as shareholder buy-sell agreements.
Our attorneys are also experienced with sensitive estate and trust matters, including estate litigation, appellate proceedings, and estate, gift and income tax audits. Our services include probating a decedent's will and preparing the appropriate estate tax and fiduciary income tax returns and accountings.
We also provide services to our clients who act in a fiduciary capacity, including the appointment of fiduciaries, directing the creation of fiduciary accounts and serving as counsel during the resolution of will and trust disputes. Additionally, we serve as advisors regarding the formation and administration of charitable trusts and private foundations.
Our capabilites include:
- Canadian Property Estate Transfer Issue
- Elder Law
- Estate & Gift Tax Audits
- Estate & Trust Fiduciary Income Tax Returns
- Estate Administration
- Estate Litigation
- Estate Planning & Settlement
- Florida/New York Residency
- Guardianship Proceedings - Articles 81, 17 & 17A
- Health Care Proxies & Living Wills
- Powers of Attorney
- Probate of Wills
- Trust Administration
Nicole R. Tzetzo, Partner
New York Attorney General Unveils Comprehensive Not-For-Profit and Executive Compensation Reform
May-20-2013 — The New York Attorney General, through bipartisan collaboration with members of both the Senate and Assembly, has proposed broad changes to the New York Not-For-Profit Corporation Law and Estates, Powers, and Trusts Law. These long-awaited proposals seek to increase transparency and accountability in not-for-profit corporations by strengthening the required governance and oversight procedures, reducing delays for certain corporate changes, and ensuring fair and reasonable executive compensation.
Thomas A. Palmer featured in The Buffalo News: Planning for a loss can spare others more pain
Jan-15-2013 — Tom Palmer is quoted in an article detailing the importance of succession planning for privately held companies and entrepreneurs.
Taxpayers smell change in the air for 2013 - Raymond Reichert serves as guest author for the Buffalo Law Journal
Dec-05-2012 — With the election behind us, little clarity has been provided in terms of what is ahead from a tax perspective for 2013 and beyond. There are new taxes and the likely increase of certain categories of old taxes. First, the taxes we know are coming:
Business First of Buffalo announces Gayle L. Eagan among volunteer lawyers to be saluted by EC Bar
Nov-28-2012 — The Vision Award is given to those members of the advocacy community who spot and respond to trends in aging. It is not given every year, but only when the nominating committee feels that a person or organization has taken a leadership role to address the rapidly changing dynamics of Western New York
Warning: New Taxes for 2013
Nov-05-2012 — A new Medicare tax on investment and other passive income will come into effect beginning on January 1, 2013. The tax will apply to the net investment income of both individual taxpayers and trusts and estates at a rate of 3.8%. The weight of this tax will fall heavily on investors and small business owners, especially those with non-working family members or family trusts as part owners.
Peter Klein Featured in Buffalo Law Journal Article - Legal advice for keeping it in the family
May-25-2010 — From navigating complex family dynamics to tax liabilities, from relatives with differing skill sets to those with differing interests in the family operation, business attorneys say there is a lot to consider when it comes to successfully transitioning a family business to the next generation.
New NYS Power of Attorney Law Effective September 1, 2009
Aug-27-2009 — On January 27, 2009, Governor Paterson signed into law a revision to Title 15 of Article 5 of New York's General Obligations Law. The new law is effective September 1, 2009 and omits all but nominal gifting power from the basic statutory power of attorney form, requiring that any such donative powers be set forth on a new statutory major gifts rider to the power of attorney form.