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Update on Department of Labor’s Fiduciary Rule The United States Department of Labor (“DOL”) has proposed a new rule that would expand the definition of “investment advice fiduciary” under the Employee Retirement Income Security Act 1974 (ERISA).  This legislation, which was scheduled to be phased in April 10, 2017, will automatically elevate all financial professionals…

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Exiting Unfavorable Contracts We work with someone that designs, manufactures and distributes certain goods internationally. Under prior management, they entered into an unfavorable contract granting to a particular company exclusive distribution rights in a very lucrative foreign territory. There was no minimum sales requirement. The contract also stated that it could be terminated only upon the…

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When the One Percenters Join the One Percent A recent news article discussed a real estate contract battle between a famous musician and former CEO of a large toy store chain. The parties entered a contract for the purchase of an estate property for $6.7 million dollars. Based on the individuals involved and the purchase…

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New York Paid Family Leave…Finally! Until recently, individuals in the workforce in the State of New York had to choose between caring for family members – such as new babies and elderly parents – and not getting paid.  But not anymore.  In April 2016, Governor Cuomo signed into law a bill that makes New York…

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Commonly Asked Questions When Buying or Selling Your Home   Q – When Should I Get a Real Estate Attorney Involved in the Transaction? A –  Whether buying or selling a home, you should get your attorney involved as soon as possible. You should explain to your attorney what you plan to do and ask how you…

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Going to buy or sell a home? Read This Before You Sign:  Spring is here, the kids are approaching summer vacation and now is a popular time to consider buying or selling a home.  We have prepared some commonly asked questions when it comes to buying and selling a home.  We urge you to read…

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Commonly Asked Property Tax Questions: A property owner calls and says “I pay too many taxes on my property.” There are two things that affect the amount of real property taxes: valuation/assessment of the property and the tax rate. Basically, the property should not be assessed above its market value. The first question is, “Do…

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Challenging your New York State property taxes can be a complex process. The attorneys at Jacobowitz and Gubits have extensive experience in challenging real property tax assessments. Our knowledgeable Hudson Valley attorneys have challenged all types of property assessments including industrial plants, apartment complexes, strip malls, condominiums, subdivisions, farmland, and more. We can help you determine…

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Planning for Business Succession and Exit Congratulations on successfully building and growing your business. The odds were against you surviving more than 5 years[1], but you beat the odds. Have your thoughts now turned to retirement? Or cashing out? Planning for business succession and exit successfully will require as much planning as growing it. Business…

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Welcome to the Immigration Channel with Jennifer S. Echevarria.  Jennifer is an associate attorney at J&G who concentrates on immigration and employment law. She is fluent in Spanish and will be providing frequent updates on immigration legistation and Presidential Executive Orders to keep the Spanish-speaking community aware.  Each summary article can be found in both…

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Jacobowitz and Gubits Counselors at Law