When it comes to your estate plan, it is important to periodically review your beneficiary designation forms in order to ensure that they are correct. This is a vital part of the planning process for all individuals, and it is often overlooked, many times causing the person that an individual wanted to receive certain assets to receive nothing.
Getting divorced is a complicated and drawn-out process, where emotions run high and the last thing on an individual’s mind is updating his/her estate planning documents. While that is indeed the case for many individuals going through a divorce, once a divorce is finalized, it is imperative that individuals review their estate planning documents and amend or update them so that they will reflect the individual’s new planning goals. This review does not stop at a Will or Trust; rather, it will be necessary for individuals to review all of their financial accounts - their bank account inf
As New York State employers continue to manage their first year of paid family leave (PFL) benefits available to employees in 2018 (8 weeks maximum), comments and predictions about what the Legislature might do for 2019 have emerged. As expected, we have heard that the disability insurers who pay out the PFL benefits to eligible employees are indicating that the current amount withheld from employees’ pay to cover PFL benefits is insufficient.
Many adults are hesitant to discuss, much less implement, a comprehensive estate plan. They believe that there is no need to create an estate plan for a variety of reasons, the most common being that they are not wealthy enough to require a comprehensive plan.
This month, Governor Cuomo signed a new anti-harassment law, and it contains provisions for private and public employers related to sexual harassment in the workplace.
Effectively immediately, employees are protected from harassment not only by other employees, but also “non-employees,” which can include vendors, consultants, contractors, and others providing services pursuant to a contract.
As reported recently by the Associated Press, a New York City Council member, perhaps influenced by a recent French law, has proposed legislation to allow some employees the right to ignore after-hours communications from employers. The proposal would apply to NYC employers with 10 or more employees, and would prohibit them from requiring employees to respond to or act on after-hours telephone calls, texts, emails etc. that are not emergencies, or discipline them for failing to do so. It would not bar employers from sending such emails, and employees could respond if they so choose.
The Bipartisan Budget Act of 2018, which President Trump signed on Feb. 9, 2018, has potentially created a new opportunity for individuals interested in charitable and philanthropic planning, as the bill creates a limited exception from the private foundation excess business holdings excise tax under Section 4943 of the Internal Revenue Code.
A new regulation clarifies how deductions can be made from employee paychecks to fund New York’s Paid Family Leave program.
Until this month, the general understanding was that a maximum of 0.126% of New York State Average Weekly Wage paycheck could be deducted from employees’ weekly wages. That meant any deductions were capped at $1.65 a week.
In another attempt to stem sexual harassment in the workplace, legislation proposed in both the House and the Senate at the end of last month would require publicly traded companies to report information related to harassment or discrimination settlements and complaints in their SEC filings. So far the measure lacks bipartisan support, but this latest proposed legislation is further evidence that workplace harassment and discrimination has lawmakers’ attention and will for a long time to come.
Discrimination on the basis of an employee’s sexual orientation has long been illegal under the New York Human Rights Law, but not under federal Title VII. However, that all changed in February 2018 when the federal Second Circuit Court of Appeals reversed its prior decisions and found that Title VII does bar sexual orientation.