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DIVORCE BEFORE OR DURING RETIREMENT The rate of divorce among those over the age of 55 is increasing dramatically, having doubled since 1990. While the number of those getting re-married later in life is increasing, those in second marriages are also 2½ times more likely to get divorced. While all divorces bring their own challenges,…

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NEW REPORT DETAILS STRUGGLES OF HUDSON VALLEY NONPROFITS NYCON, the New York Council of Nonprofits, just released a report “Hudson Valley Nonprofits Amidst COVID-19.” The report was funded by a new group called the Hudson Valley Funders Collaborative comprised of several regional philanthropic foundations. The report paints a fairly grim picture of the state of…

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485-b COMMERCIAL REAL PROPERTY TAX EXEMPTION Section 485-b of the New York Real Property Tax Law provides the basis for a 50% reduction of the increase in assessed value due to certain qualifying new construction, alterations, installations or improvements for the purpose of commercial, business or industrial activity, thus reducing real property taxes and some…

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CANCELLATION OF DEBT INCOME You owe money. Then the debt gets cancelled. There is a risk that the cancelled debt will be treated as income to be included in your gross income that forms the basis for your income tax liability. Debt cancellation is becoming more common as this economic crisis grows. Unpaid purchases, credit…

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A BUSINESS LAW CASE STUDY A client worked long and hard to build an agency into a successful business that provided for him and his family. He was approached by a much larger agency that wanted to buy him out. One of our transactional attorneys helped negotiate the terms of the transaction and drafted the…

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CDC ISSUES ORDER HALTING CERTAIN EVICTIONS NATIONWIDE THROUGH DECEMBER 31, 2020 Earlier this week the Centers for Disease Control (‘CDC’) announced that they would be issuing an order addressing the residential eviction crises across the country that has resulted from the impacts of the COVID-19 pandemic.  More details regarding that Order have been released today…

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TAX SAVINGS FOR CHARITIES Nonprofit organizations are facing extraordinarily challenging times as the Covid crisis continues. Tax savings for charities is important as nonprofits that are classified as 501(c)(3) organizations under the Internal Revenue Code (often referred to as “charities”) have the benefit of exemption from various federal and state taxes. Now is the time…

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FOR IMMEDIATE RELEASE Kelly A. Pressler, Esq. of Jacobowitz and Gubits recognized by Super Lawyers   WALDEN, NY – The law firm of Jacobowitz and Gubits, LLP (J&G) is pleased to announce that Kelly A. Pressler, Partner concentrating in general, commercial, and municipal litigation, was recognized by Super Lawyers as a 2020 Upstate New York…

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ESTATE PLANNING IS NOT ABOUT DEATH The uncertain times that we’re in have resulted in a flurry of people concerned about making a last will and testament or estate planning documents. The pandemic has been a wake-up call for many people to address issues of mortality. But there’s much more to estate planning than preparing…

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Jacobowitz and Gubits Offers Free Simple Will to Area First Responders And Military Personnel during Month of September WALDEN, NY – Jacobowitz and Gubits, LLP (J&G), the Hudson Valley’s premier full-service law firm, is extending a special offer to area active and retired first responders and military personnel during the month of September, 2020. In…

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