I was not aware I had to report to FBAR a foreign bank account, in 2012 and now in process of being closed. What can I expect?
Richard's answer
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Answered on May 15, 2014
Only an attorney can shield you with the attorney-client privilege. You should bring yourself into compliance and may face penalties that your...
Archived
How is a trust set up
Richard's answer
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Answered on May 13, 2014
You should find a lawyer who doers estate planning and talk to him or her about the creation of a trust and what provisions you would want included...
Archived
I am a doc in nyc with a medical practice. Do I need a separate tax id to open up a new urgent care center?
Richard's answer
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Answered on May 11, 2014
You would be smart to limit enterprise liability by keeping the medical practice separate from the urgent care center. Your malpractice insurer...
Archived
Need to set up irrevocable trust -what is cost
Richard's answer
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Answered on May 09, 2014
The cost depends on the complexity of the issues, the time spent and the expertise of the lawyer. I wouldn't expect to spend less than $7,500.00...
Archived
Can the IRS put a lien on my inheritance before i receive it?
Richard's answer
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Answered on May 08, 2014
Yes if they have a judgement against you and serve the financial company with a notice. Even if you receive the money directly, you should hire a...
Archived
If I set up an "Irrevocable Trust" can I still receive dividend income while I'm alive?
Richard's answer
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Answered on May 08, 2014
You should speak with an estate planning attorney as to how to create a structure that will accomplish your goals. An irrevocable trust with...
Archived
My 92 y/o mother is a life long NJ resident with a home in her name there. I have PoA (NJ) but live in NY. She's staying w/ me.
Richard's answer
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Answered on May 04, 2014
Your mother currently resides with you and is physically present in New York State, so the Supreme Court has jurisdiction to entertain the...
Archived
Can a 501(c)3 organization allow its cafeteria to be run by an outsider for a license fee based on a certain % of the gross sale
Richard's answer
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Answered on May 04, 2014
Sure. A deal like this is permissible. The income will be reportable.
Archived
In a wll of my childrens deceased father it stated any provisions taking by intestacy,shall be construed to effectuate a
Richard's answer
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Answered on May 04, 2014
It sounds like you may be trying to describe an in terrorem or "no contest clause." It is important that you have an attorney review the document.
Archived
Is nursing home debt my deceased fathers or mine?
Richard's answer
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Answered on April 28, 2014
Hire a lawyer. Their calculation looks incorrect. If the funds were used for your father's funeral and burial expenses, then that debt would have...
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