The Covid-19 Pandemic caused many Americans who reside in large cities to purchase vacation homes in places that are less congested or otherwise considered vacation areas. For example, many New York City residents have purchased homes in the Hamptons, the Jersey Shore, the Adirondacks and even more distant places such as Florida and Arizona to … Continued

I want to start by thanking the members of the Trusts and Estates Law Section for entrusting me to be Chair of the Section. I am excited for the year ahead and look forward to working with you on all the interesting and important projects that the Section is handling. It has already started as … Continued

On behalf of the incoming editorial board and our readers, I extend a tremendous thank you to Nicholas G. Moneta, who has stepped down as editor-in-chief of the Journal after three incredible years of service. Nick, we are so grateful for your dedication and commitment to this publication. I also want to congratulate Rebecca M.G. Zuks of … Continued

On October 7, 2022, the Internal Revenue Service issued Notice 2022-53,1 which provides much needed transition relief in the form of an IRS waiver of the 50% excise tax that could otherwise be imposed upon certain beneficiaries of qualified retirement plans (“Qualified Plans”) or individual retirement accounts (IRAs) who fail to take required minimum distributions (RMDs) … Continued

Frequently, estates and trusts have charitable beneficiaries. Trusts and estates attorneys should familiarize themselves with the rules that require certain estates and trusts to register and make periodic filings with the Charities Bureau of the New York Attorney General’s Office (the “Charities Bureau”).1 § 8-1.4 of the Estates, Powers and Trusts Law (EPTL) requires registration … Continued

Decisions of Interest and Recent Updates in Law Co-Mingled Property Is Marital Property The Second District Court of Appeal of Florida reversed a trial court order dissolving a marriage. The facts are as follows: In a divorce action, a Florida trial court determined a boat was a nonmarital asset belonging to the husband. The trial … Continued

Editor’s note: please see Sharon L. Klein’s article, Top Developments, Lessons and Reminders of 2022, on p. 5, which also discusses details of the case In re Pannella. Contract To Make a Will In In re Pannella, the decedent and his first wife executed identical wills leaving 100% of their estates to each other and the remainder to … Continued