Rosenthal & Markowitz

Westchester County Divorce & Probate

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Firm News

Robbin E. Sweeney becomes Co-Chair of Westchester Women’s Bar Real property Committee

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We are pleased to announce that Robbin E. Sweeney has joined Allyson Lanahan, of Lanahan Law, LLC and Anne R. Aicher, of Hollis Laidlaw & Simon, as Co-Chairs of the Real Property Committee of the Westchester Women’s Bar Association.

Robbin’s concentration includes the purchase and sale of residential real estate, estate and trust planning, and estate administration and settlement. Her clients are located throughout Westchester, Queens, the Bronx, New York, Kings, Putnam, Orange, Rockland, Dutchess, and Sullivan Counties. She has over 35 years’ experience in real estate, commencing as a real estate agent and working  for Merrill Lynch Mortgage Corporation before becoming an attorney in 1987.  Her clients range from first-time home buyers who appreciate her ability to supply emotional support with her legal expertise, to seasoned and high-end buyers and sellers, to sellers who are at the down-sizing stage of life.  Her legal experience, combined with her Masters in Mental Health Counseling and certification as a Professional Coach, have honed Robbin’s calm, focused, solution-oriented and organized approach. Robbin works hard to create an attorney-client relationship which also gives her clients practical guidance, support and confidence needed during one of life’s typically most-stressful transitions.

Allyson, Anne and Robbin are looking forward to the coming 2020-2021 year, commencing with the first Real Property Committee Meeting scheduled on September 15, 2020 at 1:00 PM.  Although the pandemic has created challenges for many of us, both personally and professionally, they hope that the continuation of the Zoom meeting format, whether for all meetings or in part, will increase the ability of their real estate colleagues to participate in future meetings with ease and obtain the benefits intended by membership. They are pleased to announce that the first meeting will be presented by WWBA member, Jean Partridge, Chief Counsel and Managing Member of Benchmark Title.  Jean will be focusing on many of the overlooked or misunderstood title issues that, whether representing a buyer or seller or conducting a residential or commercial transaction, attorneys should be prepared for.  Jean will be answering questions too.

Women & Wealth Webinar, Friday, May 15, 2020 at 12 noon

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Women and Wealth Webinar

Join Rienas & Brown Wealth Management for An Inspiring Presentation Created for Women, Friday, May 15, 2020 at 12 PM, Via Webex

Topics include:

  • Estate Planning from Linda Markowitz, Esq.
  • Daily Money Management from Ilene Amiel, Personal Affairs Administrators Inc.

Please see call details below and feel free to invite any friends, family members or colleagues you think might be interested.
This event is available through WebEx videoconferencing as well as phone dial in.

On Friday, May 15, 2020 at 12 noon, join the Webex meeting here:

Join by phone

Join from a video system or application

Musings Regarding changes in the tax law on IRA contributions and Distributions on April 15, 2020 (formerly tax day)

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In general, contributions can be made to your IRA for a particular year at any time during the year,  or by the due date for filing your return for that year. Because the due date for filing Federal income tax returns has been postponed to July 15, 2020, the deadline for making contributions to your IRA for 2019 is also extended to July 15, 2020.

Required Minimum Distributions from all qualified retirement accounts (that would include IRA’s, 401(k)’s 403(b)’s spousal rollover ORA’s and Inherited iRA account, etc.) have been suspended for 2020. You will not be required to withdraw the minimum this year. Your accounts can rest and hopefully recoup some of their losses.

Estates and trusts which are the beneficiaries of retirement accounts, will also benefit from this 2020 moratorium. For estates and trusts which make take withdrawals over no more than 5 years, 2020 will not count as one of the five(5)  years.

Similarly under the new SECURE Act, which governs distribution of retirement accounts for decedents who died in 2020, if the beneficiary was required to take withdrawals over no more than 10 years, 2020 will not count as one of the 10 years.

We hope this information is useful to you. If you have more questions and would like to arrange for a consultation that can be arranged via phone, Facetime or Zoom. Rosenthal & markowitz remains open to serve our clients and the community as best we can.

Announcement regarding Retirement Accounts last revised 4.15.2020.

The information provided in this Announcement is not intended to be specific legal advice or to be followed without individualized, professional guidance and assistance. 

This is Attorney Advertising. 

Important Announcements Regarding 2019 and 2020 Income Taxes

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We hope that all of you are safe and we in turn are doing what we can to support our clients and each other by working remotely and doing our best to meet your needs under difficult circumstances. We are “meeting” by email and phone, Facetime, Zoom and Skype.as requested. We leave information about the virus and pandemic to other sources, but we can give you some updates in this ever evolving landscape.

INCOME TAX RETURNS AND INCOME TAXES FOR 2019

Federal: The due date for federal income tax returns and making federal income tax payments due April 15, 2020 has been automatically postponed to July 15, 2020. Taxpayers do not have to file any form, including Form 4868 or 7004 to apply for extensions to file their returns. There is no limitation on the amount of the payment that may be postponed. The relief is available for federal income tax payments(including payments of tax on self-employment income) and federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020.

While the postponement moves the deadline for first quarter 2020 estimated income tax payment die on April 15, 2020 to July 15, 2020, note that second quarter 2020 estimated income tax payments are still due on June 15, 2020.

The due date for federal Gift Tax Returns, Form 709 and making payments of federal gift and generation skipping transfer tax due April 15, 2020 is also postponed. Again, the relief is automatic and there is no requirement to file any form.

New York State: New York State personal income tax and corporation tax returns originally due on April 15, 202 have also been extended to July 15, 2020. In addition, all related tax payments due on April 15, 2020 (including 2020 estimated tax payments) may be deferred to July 15, 2020. without penalties and interest, regardless of the amount owed. This extension applied to returns for individuals, fiduciaries (estates and trusts) and corporations under the tax law.

 

Announcement Regarding Tax issue Last revised 4.12.2020. The information provided in this Announcement is not intended to be specific legal advice or to be followed without individualized, professional guidance and assistance.

This is Attorney Advertising

 

Linda Markowitz and Sherry Bishko help LSHV

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Linda Markowitz and Sherry Bishko help LSHV
Linda Markowitz, in her role on the WWBA Foundation Board, and Sherry Bishko in her role on the WWBA Executive Committee, have both help provide funds and pro bono services for Legal Services of Hudson Valley. This is rewarding “give back” to the community work for our partners who were recently recognized for it by LSHV. .

Kathy Rosenthal Speaks on Non-Traditional Estate Planning

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Kathy Rosenthal on panel speaking about Non-Traditional Estate Planning

On May 2, 2018, partner Kathy Rosenthal spoke on a panel joined by colleagues, Julia Peloso-Barnes, a financial planner at Morgan Stanley, and Doug Ruttenberg, a CPA with PKF O’Connor Davies.  The program, sponsored by the Westchester Estate Planning Council, focused on estate planning issues critical to planning for Non-Traditional Families.

As we know, family units do not always consist of one mom, one dad and 2.2 children.  We spoke about planning for…

  • a single person
  • a single person with a minor child
  • a same-gender couple
  • a couple married for the second time with children from their respective first marriages
  • issues around an adult disabled family member.

Every family has unique planning needs.  Each of the adults need his or her own Will, health care proxy, living will and power of attorney.  Some people also need trusts (for asset protection for themselves or their beneficiaries or for estate tax planning or to avoid probate).  Some need pre or post-nuptual agreements or partnership agreements.

Non-traditional families, especially those bound by choice, not by marriage or blood, also need these documents, but planning for a non-traditional family is essential because the family’s interests and needs can be more “outside the box” and the family members are not protected by state laws and more traditional planning options.

For the legal and financial professional, planning starts with asking the right questions and listening more intently to the answers so the professionals can educate each client about his or her options and then work with the client to implement the plan.