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LLC’s: Publication Requirement – Domestic LLC’s

      New York Limited Liability Company Law § 206 requires that domestic LLCs publish a legal notice of the formation of the LLC within 120 days after the effectiveness of the initial articles of organization. This is often an overlooked step in establishing a...

Attorney Supervised Wills Given Presumption of Regularity

New York mandates strict compliance with the provisions of EPTL § 3-2.1 in connection with the execution of Wills. Failure to follow formalities could result in the Will not being admitted to probate. This presents a heightened risk to people who try to do their own...

Power of Attorney

Bear in mind that the Power of Attorney does not include any medical decision making capabilities for the agent. For such powers, look to establish a Health Care Proxy and Living Will. The Power of Attorney is a document that enables you to designate an agent to make...

LLC’s: Publication Requirement – Foreign LLC’s

New York Limited Liability Company Law § 802 requires that foreign LLCs publish a legal notice of their qualification to do business in the state within 120 days of the filing of the Application of Authority with the New York Department of State (NYDOS). This is often...

Health Care Proxy

This is a document whereby you designate someone to make medical decisions for you if you are unable to do so. Note that the standard form circulated by the New York State Department of Health does not contain a provision allowing your agent access to your medical...

Retirement Plans: Beneficiary Designations

Make sure to designate beneficiaries for your retirement plans, including IRAs, Roth IRAs, 401(k)s, 403(b)s, 457(b)s and the like. Otherwise, the plan will pass to your estate upon your demise. This will produce an unnecessary probate of the plan asset and have...

Wills: Provisions for Minor

Make sure that you have, at a minimum, a provision that permits assets to be managed for the benefit of minors should they inherit under a Will. UTMA or trust provisions are often used. Otherwise, a costly Guardianship in Court may have to be instituted to manage...

Avoiding Probate: Revocable Trusts

One easy way to avoid the probate process is to use a Revocable Trust. Among other attributes, they are easy to set up and easy to change. They are private documents in that they generally do not make their way to the public record. A properly drafted Revocable Trust...