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1031 EXCHANGE BASICS

March 1, 2022 | Real Estate

WHAT IS IRC SECTION 1031? Section 1031 of the Internal Revenue Code (IRC) allows a taxpayer who owns investment or commercial property to exchange a relinquished property and defer paying capital gains taxes.  If...

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UPDATES ON ESTATE AND GIFT TAX LEGISLATION

February 10, 2022 | Estate Planning

By Christian D. Curtis Back in June 2021, after fielding many calls from concerned clients, I hosted a Webinar regarding President Biden’s bold tax change proposals. These proposals would have made some profound changes...

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In Wake of the Champlain South Tower Collapse in Surfside, Florida

February 7, 2022 | Real Estate

In October 2021, the Federal National Mortgage Association was the first to announce updates to its guidelines and criteria changes for Condo and Co-op Projects.  These changes came in the wake of the tragic...

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Foreign Buyers in Manhattan’s Luxury Condo Market: They’re Back

February 4, 2022 | Real Estate

Pent-up demand, a weak dollar, and surging wealth have lifted Manhattan’s luxury market from the pandemic doldrums — developers, take note.  (Commercial Observer)    The first rule of real estate is location, location, location....

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New Team Members!

February 1, 2022 | Newsletter

We are very excited to be able to announce 3 new attorneys who have been added to the CPL team! Susannah Rosato joins our Commercial Real Estate group. Her practice has focused on representing...

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How can a life insurance plan complement your estate planning?

January 29, 2022 | Estate Planning

Life insurance can be a key component in an estate plan. Whenever I think about this tool, the words that come to mind are security, liquidity, and non-probate. Let’s discuss how each of these...

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What Is New York’s Mental Hygiene Law?

January 21, 2022 | Uncategorized

New York state passed the Mental Hygiene Law in 1972, creating a broad legal framework to address the needs and rights of the mentally disabled and incapacitated, as well as public concerns. The NY...

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Who Can Serve As a Health Care Proxy in New York?

December 28, 2021 | Estate Planning

When it comes to your health care decisions, the person whose opinion matters the most is you. Medical decisions will directly affect your life, so it’s important to solidify what decisions are best for...

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Expected Rise in Real Estate Activity in NYC as U.S. Borders Reopen

December 3, 2021 | Real Estate

The United States opened its borders to international visitors on November 8, ending a 20-month travel ban initially instated to prevent the further spread of COVID-19. As airlines gear up for a surge in...

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What Does It Mean to Administer an Estate?

November 11, 2021 | Estate Planning

Administering an estate is the important process of managing a person’s assets and liabilities after they die. Estate administration involves several key steps that can be difficult to understand or carry out without the...

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Chaves Perlowitz Luftig LLP