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Kevin McKernan Kevin McKernan

CLIENT ESTATE PLAN REVIEW CHECKLIST

Ensuring your estate plan remains on the right path requires careful attention and regular updates. These twenty steps serve as a comprehensive guide to help you safeguard your estate and provide for your loved ones according to your wishes.

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Kevin McKernan Kevin McKernan

SPECIAL NEEDS TRUSTS IN NEW JERSEY

Are you or a loved one in New Jersey facing the complex challenge of securing government benefits while preserving your assets? Special Needs Trusts (SNTs) might be the solution you're looking for.

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Kevin McKernan Kevin McKernan

NEW YORK CITY’S FINAL RULES ON SAFE AND SICK TIME BECOME EFFECTIVE

On September 15, 2023, the New York City Department of Consumer and Worker Protection (DCWP) issued a pivotal final rule, known as the "Final Rule," on the City's Earned Safe and Sick Time Act (ESSTA). These rules aim to protect and support employees in their times of need and outline important provisions that employers must adhere to.

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Kevin McKernan Kevin McKernan

6 LIFE EVENTS THAT MIGHT IMPACT YOUR ESTATE PLAN

Core documents, such as a will or a will and a revocable trust, and a health care power of attorney/living will/health care directive, are essential tools for securing your future and ensuring your wishes are honored. Regularly reviewing these documents – typically every three to five years – is crucial to keeping them aligned with your goals and adapting to changes in tax laws.

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Kevin McKernan Kevin McKernan

ANNUAL REPORTS FOR CORPORATIONS

Annual reports are a crucial obligation for corporations across the United States, with only Ohio exempt from this requirement. Each state imposes specific filing requirements and deadlines, making it essential for businesses to stay informed.

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Kevin McKernan Kevin McKernan

ESTATE PLANNING WHILE UNMARRIED

As a result of widowhood or divorce, a greater number of older Americans are forming new partnerships. The U.S. Census Bureau reports that more than half of all older adults have only married once, opting to stay legally single in their future relationships.

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Kevin McKernan Kevin McKernan

MORE NEW YORK LEGISLATIVE ENACTMENTS

New York State Governor Kathy Hochul continues to sign legislation emanating from a busy legislative session, including legislation rendering contractual assignment-of-inventions provisions unenforceable, prohibiting employers from accessing employee social media account log-in information, and more.

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Kevin McKernan Kevin McKernan

WHAT YOU NEED TO KNOW ABOUT COMBINING A 1031 EXCHANGE AND A SECTION 121 EXCLUSION

Real estate investors seeking to minimize capital gains taxes and depreciation recapture can employ two powerful tax strategies – a 1031 Exchange and a Section 121 Exclusion.

While typically used independently due to differing property requirements, there are instances where these strategies can be combined for an even greater tax advantage.

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Kevin McKernan Kevin McKernan

SOME STEPS TO STARTING A NEW BUSINESS

Are you ready to turn your entrepreneurial dreams into reality? Starting a new business is an exciting journey, but it requires careful planning and execution.

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Kevin McKernan Kevin McKernan

NEW YORK CITY AMENDS SAFE AND SICK TIME REGULATIONS

New York City adopted changes to its sick and safe time regulations, effective October 15, 2023. The changes clarify coverage issues for telecommuters and hybrid employees, employer headcount and coverage thresholds, and advance notice and documentation requirements.

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