The Law Office of Lucy F. Titone

12/22/2023

Wishing you and yours a joyful holiday season as we approach the end of the year! 🎄🎁

Our clients’ trust and support mean the world to us, now and always. We're excited to continue our journey together in the new year.

Here’s to a safe and happy end to 2023, and if we don't chat before then, see you in 2024! 🥳

06/06/2023

Take a look at our answers to the pop quiz from a few days ago! How did you do? Let us know in the comments!

05/31/2023

Want to test your estate planning knowledge? 📚🧠💡 Take the quiz and comment your answers below. We’ll post the answers tomorrow, so check back in!

01/29/2023

We know that the winter blues are sometimes inescapable, which is why we wanted to share this insightful quote from poet Anne Bradstreet. While she may have written this way back in the 1600s, it is certainly still applicable in our modern day lives.

Feel free to share this post to encourage someone today 💙

01/18/2023

As the new year begins in earnest, we thought this would be the perfect time to offer a brief “state of estate planning” address! Here are a few things to keep in mind in 2023:

🖋️ Those with a taxable estate above the lifetime exemption can expect to pay anywhere between 18-40% in estate tax in 2023. However, the good news is that the per-person lifetime exemption from estate and gift tax is expected to rise to approximately $12.92 million.

🖋️ I’ve seen more clients including real estate investments in their estates. If you're among those doing so, make sure you report the investment and pay any associated taxes to the IRS. Otherwise, beneficiaries will be subjected to tax audits.

🖋️ Strong, open family communication can be tough, but we encourage you to have these sometimes difficult conversations. It’ll be worth helping your family avoid potential legal fees down the road.

Need help this year with estate planning? We’re here–always feel free to reach out!


📖: 2023 Estate and Gift Tax Rates: What You Need to Know, The Motley Fool

05/04/2020

Despite the fact that New York Courthouses remain closed to litigants and the public, due to Covid-19, many innovations have taken place, including virtual conferences. Today the courts have lifted the "freeze" on filings to existing cases. Although, we are still unable to file a new action, lawyers can once again file papers to existing cases. Electronic filing has become available to courts that previously did not have access to online electronic filings, We are slowly adapting to this new normal, and hopefully in many instances, revolutionizing the practice of law in our state. I hope everyone continues to stay safe.

04/29/2020

For those of you who do wish to have a Last Will and Testament prepared, but are concerned about physical contact between the testator (person who's Will it is) and the witnesses and supervising attorney, Governor Cuomo has signed an executive order which temporarily allows Wills to be executed and Witnessed via Video transmissions.

The order specifically states in pertinent part:

For the purposes of Estates Powers and Trusts Law (EPTL) 3-2.1(a)(2), EPTL 3-2.1(a)(4), Public Health Law 2981(2)(a), Public Health Law 4201(3), Article 9 of the Real Property Law, General Obligations Law 5-1514(9)(b), and EPTL 7-1.17, the act of witnessing that is required under the aforementioned New York State laws is authorized to be performed utilizing audio-video technology provided that the following conditions are met:

The person requesting that their signature be witnessed, if not personally known to the witness(es), must present valid photo ID to the witness(es) during the video conference, not merely transmit it prior to or after;

The video conference must allow for direct interaction between the person and the witness(es), and the supervising attorney, if applicable (e.g. no pre-recorded videos of the person signing);

The witnesses must receive a legible copy of the signature page(s), which may be transmitted via fax or electronic means, on the same date that the pages are signed by the person;

The witness(es) may sign the transmitted copy of the signature page(s) and transmit the same back to the person; and

The witness(es) may repeat the witnessing of the original signature page(s) as of the date of ex*****on provided the witness(es) receive such original signature pages together with the electronically witnessed copies within thirty days after the date of ex*****on.

04/29/2020

For many of you, now may be a good time to reach out to an Estate Planning Professional. Whether you contact my office or another Estate Planning firm, the peace of mind it can bring can be very comforting during these uncertain times. There are many things that are outside of our control, but creating a sound estate plan is within our control and may alleviate some anxiety for many. Most firms offer free consultations, as do I. Be safe, be well, and please accept my deepest condolences to those of you who have lost love ones.

05/04/2018

Every estate plan has unique features, but the same problems and mistakes recur.

Every estate plan has unique features, but the same problems and mistakes recur. Each of the classic mistakes is easy to avoid.

05/02/2018

Cryptocurrency estate planning presents a variety of issues.

Cryptocurrency’s technological character allows estate planning to protect the intent of its holders but the lack of statutory structure necessitates proactive steps.

04/27/2018

Medical powers of attorney and other advance directives executed in a previous state may also be ruled invalid in your new state of residence.

04/25/2018

Additionally, Roth IRAs are tax-free from a distribution standpoint, not only to the owner, but to the beneficiaries as well.