Connors and Sullivan, Attorneys at Law, PLLC
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March 2019 Archives

Baby boomers: It's essential that you create an estate plan soon! Attend a free seminar to learn more

Only 18% of Americans age 55 and older have a will and two other estate planning documents, according to a new report by Merrill Lynch and Age Wave. Even more concerning is that 45% of people age 55 and older do not have a will.

When is an equal distribution of assets a bad idea?

It is common for those who put together an estate plan to attempt to distribute assets to heirs in equal portions. The idea behind the move is logical — each kid gets an equal share of the parent’s or grandparent’s assets. But does it end up working this way?

Taxes & gift giving: Did recent tax reform change anything?

An estate plan accounts for more than just a transfer of assets at one’s death. It guides financial planning, health care decisions and even how we gift. Anyone that puts together an estate plan with a one size fits all mentality is unlikely to make the most of the plan. When drafted wisely, an estate plan can do more than just transfer assets — it can result in serious tax savings. 

Three common audit triggers

Tax season is upon us. Those who are getting ready to file their tax returns may wonder whether this is the year they are chosen for an audit. Audits are generally not random. There are some red flags that can increase a taxpayer’s risk of a federal audit.

When should I update my estate plan?

Ideally, an estate plan should be an evolving set of documents. These legal tools should change and grow with you — not remain static. Those who put together an estate plan and forget it are less likely to have an estate plan that truly reflects their desires then those who review the documents and make updates.

Office Locations

Brooklyn:
Connors and Sullivan, Attorneys at Law, PLLC
7408 Fifth Avenue
Brooklyn, NY 11209

Phone: 718-414-6209
Fax: 718-238-2616
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Manhattan:
Connors and Sullivan, Attorneys at Law, PLLC
880 Third Avenue
New York, NY 10022

Ph: 212-737-2700
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Bayside Queens:
Connors and Sullivan, Attorneys at Law, PLLC
200-20 Northern Boulevard
Bayside, NY 11361

Ph: 718-225-7200      
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Middle Village Queens:
Connors and Sullivan, Attorneys at Law, PLLC
79-43 Metropolitan Avenue
Middle Village, NY 11379

Ph: 718-238-6500
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Staten Island:
Connors and Sullivan, Attorneys at Law, PLLC
1250 Hylan Boulevard
Staten Island, NY 10305

Ph: 718-238-6500  
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