• Planning for Retirement Assets such as IRA's and "Qualified Plans" - With a view towards maximizing the income tax deferral available with respect to such assets.
  
  
• Valuation Discounts in Gifting - Utilizing family limited liability companies or family limited partnerships.
  
  
• Living Revocable Trust - Designed to avoid probate, if necessary, and to provide a clear road map as to the management of the client's assets before and after death.

  A client's Last Will and Testament may require one or more of the following provisions:

• Credit Shelter Trust - Intended to preserve the "unified credit" against estate tax.
  
  
• QTIP Trust - To take advantage of the marital estate tax deduction while controlling the ultimate disposition of the Trust.
  
  
• Sprinkler Trust - Giving broad discretion to the Trustee in providing benefits to a class of beneficiaries, such as young children.
  
  
• Generation Skipping Trust (often referred to as "Dynasty Trusts")- Allowing the client to utilize the generation skipping transfer tax exemption by benefiting grandchildren and more remote descendants.
  
  
• Supplemental Needs Trust - Providing benefits to a disabled beneficiary without disqualifying the beneficiary from governmental assistance, such as Medicaid and SSI.
  
  
• Charitable Remainder and Charitable Lead Trusts - An estate tax savings tool intended to benefit the client's loved ones as well as charitable concerns.
  
  
• Qualified Domestic Trust - To preserve the marital estate tax deduction in the event the surviving spouse is not a U.S. citizen.

  Other tax saving instruments which we frequently recommend include:

• Irrevocable (Life Insurance) Trust - Enabling the client to exclude life insurance proceeds from his or her gross estate for tax purposes, while at the same time ensuring that the proceeds will benefit a spouse, children or other intended beneficiaries.
  
  
• Qualified Personal Residence Trust (QPRT) - A mechanism for gifting a future interest in one's residence or vacation home at deeply discounted gift tax values.
  
  
• Contemplating marriage? We'll assist you with a Prenuptial Agreement to protect assets in the event of death or divorce.
  
  
• In our view, a thorough understanding of the estate and income tax laws, and the manner in which they interrelate, together with a personal knowledge of the client's needs, is the foundation for a sound estate plan.

BUSINESS/CORPORATE LAW

  The Firm counsels privately held businesses of all types and sizes in order to successfully navigate the critical issues and pitfalls posed by today's business environment. These include:

• Choice of Entity: - The first question to be addressed, when starting a business, is the form of entity in which the business will be conducted. The ultimate decision should rest upon a careful analysis of the tax and liability consequences involved with each alternative. Our attorneys weigh the pros and cons, and explain the nuances, associated with conducting business as a Limited Liability Company, Limited Liability Partnership, Business Corporation (sub-chapter "S" and "C" corporations), Professional Corporation, Sole Proprietorship, General Partnership and Limited Partnership. We facilitate the organization of the entity of choice, and advise the client as to the formalities which must be followed in order to take advantage of the benefits that it affords.

  Business Agreements - With practical experience involving the issues presented, and many years of training in contract drafting, the Firm's attorney's are able to tailor a broad range of agreements necessary for successful business planning, including:

• Shareholder Agreements - Sometimes referred to as a "buy-sell" agreement, these contracts govern the disposition of an owner's interest in the business upon the happening of various triggering events, such as death, disability, termination of employment and bankruptcy. Utilizing restrictions on transfer, such as a "right of first refusal", a business owner may ensure a level of certainty as to who his or her future "partner" will be.
  
  
• Employment Agreements - Utilizing restrictive covenants and incentive arrangements, such as stock option and stock bonus plans.
  
  
• Other Agreements - Including confidentiality agreements, licensing agreements, distributorship agreements and uniquely tailored agreements designed to address the particular concerns of a client.
  
  
• Business Sales and Purchases: - The attorneys in the Firm represent buyers and sellers in various business sales transactions, and have the experience necessary for the successful negotiation, contract drafting and closing of both stock transactions and asset deals.

ELDER LAW AND DISABILITY PLANNING

  "Elder Law" is a broad term used to describe legal services that are tailored to the unique needs of senior citizens. The Firm's attorneys are experienced in addressing the particular concerns of senior citizens and the disabled through comprehensive planning including:

• Long term health care planning
  
  
• Medicaid planning
  
  
• Arranging for Powers of Attorney and Health Care Proxies (often referred to as a "Living Will")
  
  
• Guardianship proceedings

  Many of our clients are faced with the difficult task of providing for a disabled parent, spouse, child or grandchild. We are able to address these concerns by implementing various disability trusts, such as third party supplemental needs trusts and pooled income trusts. Our attorneys also regularly assist other attorneys in the preparation of special needs trusts for the benefit of individuals entitled to personal injury awards or settlement proceeds.

PROBATE, ESTATE AND TRUST ADMINISTRATION

  We regularly guide clients through the probate and estate administration process, including the representation of fiduciaries, (i.e., Executors and Trustees) and beneficiaries in all Surrogate Courts throughout New York and New Jersey.

  The probate process need not be expensive or time consuming. We take the time to de-mystify the process for our clients, and we handle all aspects of the administration, including the preparation of estate tax returns and estate and trust accountings. We also advise our clients regarding "post-mortem" planning (i.e., various methods to reduce estate taxes, even when the decedent had not made estate planning arrangements).

  Our services in this area range from handling complex multi-million dollar estates, requiring the valuation and disposition of sophisticated business, real estate and "qualified" assets, to relatively small estates consisting of only a few assets. We are proud of our reputation for concluding matters in an efficient and expedited manner.

REAL ESTATE TRANSACTIONS

  A commitment to due diligence, precision in contract drafting and a reasonable but firm negotiation strategy are the cornerstones of the Firm's real estate practice.

  Residential: Our attorneys represent buyers and sellers of homes throughout New York and New Jersey and are thoroughly familiar with the unique issues involved with cooperative apartments, condominium units and single family homes. We believe in a responsive "hands on" approach in counseling our clients through the often stressful real estate transaction.

  Commercial: For our commercial clients, we have handled multi-million dollar sales and purchases of large buildings and tracts of land in New York City, New Jersey and Long Island.

  Our representation in commercial lease transactions has included industrial buildings, restaurants, office space and retail establishments.

  In all real estate transactions, we focus upon, and guide our clients through, a myriad of issues including environmental, title matters, surveys, engineering inspections, brokerage agreements, Code compliance and mortgage financing issues.