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Bellmore, NY Estate Planning & Complex Litigation Blog

Wednesday, February 27, 2019

Selling Your Business

The majority of businesses in the United States are small businesses. To understand the impact that small business has, consider the fact that small business generates nearly 60% of all new jobs within the United States. Amazon, Walmart, and other big companies often stand out with their massive revenues and employment numbers, but at the end of the day, the primary drivers behind the economy are small business.

If you have a family business or personal business that you’ve built up, you are likely one of these economic drivers. For many families and individuals, the business becomes an identity. Family businesses in particular are susceptible to acting as an identity for that family. Thus, for many small business owners planning for retirement, the question of what to do with the small business is a major stressor. For a family business, the transfer of control and ownership from one generation to the next can be incredibly complicated and strenuous. If it’s not a family business, then the question is primarily how to effectuate the sale and estate planning repercussions. The following sections will give an overview of general considerations for family-owned businesses and then general concerns relating to the sale of a business.


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Friday, February 15, 2019

Misconceptions About Personal Injury Claims

Personal injury is one of the most actively practiced areas of law, but there are many misconceptions surrounding it.  It’s not the fault of the general public for these misconceptions – the law is an intricate system full of rules that often don’t make sense in isolation. To help resolve this confusion, several common misconceptions are addressed below.

You can Take Your Time

Some injury victims may decide to wait before reaching out to an attorney. There is a belief that if you’ve been injured, you can sue whenever is convenient. Unfortunately, this is not the case and is a misconception that often bars victims from being able to claim compensation. States impose a time limit, referred to as a statute of limitations,  bring a lawsuit after an injury occurs. To ensure that you are not barred from bringing a claim for personal injury by a state’s statute of limitations, it’s essential to consult with a personal injury attorney as soon as possible following the injury.


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Friday, February 1, 2019

Removing a Trustee

Trustees are responsible for administering a trust for the benefit of the beneficiaries. In some instances, multiple trustees may administer a trust as co-trustees. Occasionally, issues arise causing the beneficiaries of a trust or the co-trustees to pursue removal of a trustee. These issues could be general unhappiness with trust accounting or failure of the trustee or co-trustee to provide information when requested. In short, the grantor (creator) of the trust, co-trustees, the trust beneficiaries,  and the  probate court have the ability to remove a trustee

Reasons a Trustee Can Be Removed

The reasons for removal of a trustee depend upon the trust documents and applicable state law. Generally, a trustee can be removed for:


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Friday, January 18, 2019

Buying A House After Bankruptcy

It is no secret that filing for bankruptcy can harm your credit. However, compared to simply letting your accounts go past due for months on end, bankruptcy may actually be better for your credit over the long term because there are no repeated “dings” on your credit score. Getting the bankruptcy finished allows you to start fresh and begin to rebuild your credit rating.

Your credit score is closely examined when you enter the home buying process, which means  that filing for bankruptcy may affect your ability to purchase a home in the future. Even if your credit score is not significantly harmed,  a bankruptcy discharge will remain on your credit report for up to ten years. That type of history can make lenders nervous about your creditworthiness.  Nonetheless, it is possible to purchase a house after bankruptcy, but it may take some additional time and extra steps.


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Friday, January 11, 2019

An Overview of Retirement Plan Options

Retirement planning is essential given ever-increasing life expectancies in the United States. Unfortunately, many Americans fail to save adequate amounts to make it through retirement. Often, individuals believe that they will be fine on Social Security. However, Social Security is only designed to compensate for 40% of your income; Social Security is designed to be an income supplement rather than a sole income source. To make matters worse, workers tend to overestimate how late into their life they will be able to work. Inadequate savings and an inability to work produce an exceptionally stressful retirement. Remember, it’s never too late to start saving.

401(k) Plans

401(k) plans are employer-sponsored retirement plans that offer tax advantages to investing. When investing through a 401(k) plan, you will declare how much of your paycheck you would like to contribute to the 401(k). The employer will then contribute the designated amount before taxes to your 401(k) account. The contributions made to your 401(k) account are non-taxable meaning that your taxable income is decreased by the amount contributed. As of 2018, the maximum amount that a taxpayer can contribute to a 401(k) account is $18,500. The tax advantages of the 401(k) plan mean that if the taxpayer earns $80,000 annually in salary and contributes $10,000 to his or her 401(k) plan, then the taxpayer’s taxable income for that year would be decreased to $70,000. When the taxpayer begins to withdraw from the 401(k) account, those withdrawals will be treated as taxable income.

However, money contributed to a 401(k) plan may not be withdrawn before the age of 59.5 without incurring a penalty unless certain exceptions apply. Unfortunately, not all employers offer 401(k) plans. If your employer doesn’t offer a 401(k) program, make sure to take advantage of other retirement plan options such as a Traditional IRA or a Roth IRA.


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Friday, January 4, 2019

The Damages Calculation: Prediciting What Your Case Is "Worth"

When someone has been injured in an accident, one of the prime considerations is whether the claim is worth pursuing. Injury victims need to whether the facts and the overall situation would create a legal liability for someone else. Beyond that, they also want to know what kind of recovery they could obtain for their injuries and damages. That question is sometimes harder to answer, however.

Everyone’s case is different, and even some slight detail could significantly alter the value of your claim. However, there are some overarching “rules” that you can use to determine what your case may be worth.

The following information is the same method that most insurance companies will use to determine what amount may be appropriate to settle your case. It is often referred to as the “Damages Calculation.”

Your Damages in a Personal Injury Case

When you are injured, you likely have several different types of damages. They may include:


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Wednesday, December 19, 2018

The Basics of Powers of Attorney

A power of attorney is an estate planning document that has a variety of uses. There are several types of these documents available, and each one performs a slightly different function. One or more of these plans may be a good idea to include as part of your estate plan.

What is a Power of Attorney?

A power of attorney gives another person permission and authority to make decisions regarding various aspects of your life if you can’t make those decisions yourself or if you just want to hand over control to a friend or loved one for any other reason.

A power of attorney gives someone else, who does not have to be an attorney, the ability to make decisions for you. You are essentially authorizing this other person to act on your behalf either generally or if certain conditions are met.

You must complete a document to give this power to someone else. This document may need to be notarized or go through another type of authentication process.

Types of Powers of Attorney

Several kinds of powers of attorney may be useful for your estate plan. These often overlap in many circumstances.


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Monday, December 10, 2018

The Importance of a Jury for Your Personal Injury Case

Jury trials are an important part of our democratic society. Thomas Jefferson once stated, “I consider trial by jury as the only anchor yet imagined by man by which a government can be held to the principles of its constitution.”

While many jurors are reluctant to serve on a jury because of the significant time commitment, juries are a vital part of both civil and criminal trials. The combination of a panel of your peers and a judge who understands and upholds the law helps ensure that the rights and liberties of those involved in court process are upheld.

While jury trials are used more often in the criminal context, they are just as important in civil law as well. This is particularly true for personal injury cases. Even if your personal injury case never makes it to trial, the jury is something that your attorney and the other side should be considering throughout your case.


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Monday, December 3, 2018

Using Your Will to Dictate How to Pay Off Debts

Most people realize that they can use their last will and testament to set out who should receive particular assets or income. However, few people understand that they can also describe how they would like specific debts paid off in their will as well. Unfortunately, many of your debts do not just disappear when you pass away; they are often passed on to your loved ones to address.

Thankfully, some careful planning and forethought now can help your family and friends deal with these issues much more efficiently in the future, cutting down on confusion and stress.  


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Friday, November 16, 2018

What is a Subpeona?

A subpoena is a legal tool that is used to obtain documents and information. It is also used to compel someone to appear at a deposition or testify in a court proceeding.

The term “subpoena” (pronounced “suh-pee-nuh), literally means “under penalty.” Anyone who does not comply with a subpoena may be subject to penalties, including fines and jail time. Based on these potential consequences, it is an extremely valuable way to obtain information or force an unwilling witness to appear to testify.

Types of Subpoenas

There are generally two types of subpoenas. The first is called a “subpoena duces tecum.” It requests that the person receiving the subpoena produce documents, tangible evidence, or other materials. These subpoenas often have a date and time deadline for you to appear to present this evidence, but you can usually avoid having to produce the information in person if you communicate with the requesting party and provide the materials before the deadline.


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Friday, November 9, 2018

Need to Know Differences Between a Commercial and Residential Lease

It is important to know the differences between a residential and commercial lease because both are treated differently under the law. The distinctions will set out certain rights and obligations for both parties involved in the contract.

What is a Residential Lease Agreement?

A residential lease is most often between a landlord and an individual tenant or family. The agreement is to provide a living arrangement. It is usually set up to include a monthly payment, but not always. The term varies from month-to-month to a term of several years, although one-year leases are perhaps the most common.

These types of leases usually apply to houses, apartments, townhouses, or condos. The location is generally not used for profit. However, some areas do permit residences to run a business out of their home.

What is a Commercial Lease?

Commercial leases involve a contract between a landlord and a business. The business can be a sole proprietorship or a corporation. The purpose of the arrangement is to provide space so that the business can sell goods or provide service. The goal for the company is to use the area to generate a profit. It is not designed for sleeping or to meet the residential needs of a business owner or its employees.

Commercial spaces are usually locations such as:


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Lawrence M. Gordon, Attorney at Law, P.C. has offices in Bellmore, NY and assists clients throughout Long Island, including: the north shore of Long Island, The Town Of Oyster Bay, The Town Of North Hempstead, The Town Of Hempstead, The Town Of Huntington, Nassau & Suffolk Counties & throughout the Five Boroughs of The City Of New York.



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