License Agreement Essential for Facade Repairs and Building Renovations

Gerard StrainBlog Post, Insight

Contact:
Gerard S. Strain
212-710-4991
[email protected]

 

License Agreement Essential for Facade Repairs and Building Renovations

Gerard Strain, Partner at Goetz Fitzpatrick was recently featured in Habitat Magazine to discuss a critical aspect of construction in New York: access agreements.

When undertaking construction projects, it often becomes necessary to access adjacent properties to perform essential activities. Navigating these access agreements can be complex, but they are crucial for ensuring smooth and legally compliant progress on construction sites.

A big thank you to Habitat Magazine for this opportunity to shed light on such an important topic. For anyone involved in NYC construction, understanding access agreements is vital for avoiding disputes and keeping projects on track.

Check out the article for more insights!

https://www.habitatmag.com/Publication-Content/Legal-Financial/2024/May-2024/neighboring-building-access-facade-renovations


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


Why Do a Trust?

Alison Arden BesunderBlog Post, Insight

Contact:
Alison Arden Besunder
212-695-8100, ext. 289
[email protected]

Why Do a Trust?

A few musings on how a trust can be helpful for a certain type of individual who is looking to minimize risk.

While you can’t eliminate risk entirely, you can use estate planning techniques to minimize the risk or impact to your assets or the assets you intend to pass down to your children. For most every client, they have a “number” — an amount of money they would need to reach to feel comfortable. The number is a personal thing. I heard someone say once: “You’re nobody until someone sues you.” It’s funny but also sadly true. Whether you have $500,000 or $5 million, your hard-earned money is worthy of protection from creditors and predators.

Trusts can be structured to allow you to enjoy your assets while protecting them from potential future creditors. Who would those creditors be? Maybe your 16-year old takes the family car out and gets into a car accident. The damages to the other passengers exceed your automobile and home owner’s insurance policies. Or maybe you didn’t have an umbrella policy. If they succeed at trial, any assets held in your individual name (as opposed to a trust) are subject to collection on that judgment. That usually means your house and any investment accounts.

A trust can also protect assets from predators. Who would “predators” be? Maybe that same (or a different) 16-year old calls you from Thailand and says she’s getting married to someone she’s just met. Assets in trust for her, or assets structured to be left to her in trust, give added protection that those assets will not become “marital property” and subject to distribution to the new son-in-law (or future son-outlaw) if and when they get divorced. These are just some of the benefits that can warrant setting up a trust.


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


Trusts & Estate Planning: Do I Need a Will If All My Assets Are in Joint Accounts?

Alison Arden BesunderBlog Post, Insight

Contact:
Alison Arden Besunder
212-695-8100, ext. 289
[email protected]

Do I Need a Will If All My Assets Are in Joint Accounts?

The unequivocal answer is Yes.
Many people erroneously believe that they do not need an Estate Plan or Estate Planning documents if all of their assets are in joint accounts with their spouse or their children.
Although joint accounts are intended to pass directly to the joint account holder after the other account holder’s death, it remains critical to have a Last Will and Testament in place to administer assets that may be outside of those joint accounts at death (i.e., outstanding checks that have not been cashed). If the decedent had applied for and received Medicaid benefits, it is particularly important to have these documents.

Keep in mind that a “joint account” can be challenged. The law allows a presumption of joint ownership but that presumption can be overcome.
Sometimes a parent will title an account jointly with their child because the parent wants the child to handle his or her banking, pay bills and to have uninterrupted access to the account if the parent becomes incapacitated, all for the parent’s benefit. This is a “convenience account” that is deemed property of the probate estate and subject to collection by the Executor.

Alternatively, the parent names the child as a joint owner to have the account pass to the child on the parent’s death without probate. In that instance, the child is a co-owner of the account and not merely a signatory for the convenience of the parent.
However, in order to avoid any dispute as to account ownership, it is particularly important to sign a written statement indicating that all assets held in a joint account shall be considered the joint owner’s property on the parent’s death and NOT a convenience account. Additional precautions may help provide evidence as to what type of account was intended.


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


7 Tips for Shopping for Long-Term Care Insurance

Alison Arden BesunderBlog Post, Insight

Contact:
Alison Arden Besunder
212-695-8100, ext. 289
[email protected]

7 Tips for Shopping for Long-Term Care Insurance

Researchers at Georgetown and Penn State claim that 70% of people 65 and older will need long-term care. These policies help ensure you get the care you need if money is an issue, and protect cash so there is still a legacy to leave to your heirs. As with the rest of the healthcare industry, long-term care insurance is in a state of flux. Here are some tips that will help you make a sound decision.

  1. Buy in your 50s. This is when experts say premiums are most affordable and coverage is easiest to obtain. For each year you delay the decision, expect a 3-4% increase.
  2. Do not buy on price alone. Work with an agent who has expertise in this field. They can guide you toward stable carriers with high ratings and the wherewithal to remain strong in this changing environment.
  3. Ask about shared benefits. This rider will essentially double the benefits available to one spouse, yet fewer than half of couples opt for this rider.
  4. Purchase policies together. You can get discounts of up to 30% when you purchase at the same time as your spouse.
  5. Inflation riders are a must. Your benefit will not keep pace with the rising costs in healthcare without one. Inflation protection can cost 50% more, but this is no place to skimp.
  6. Read the fine print. Make sure you understand what triggers the benefit, as well as how to calculate waiting periods.
  7. Consider hybrids and conventional policies. Hybrid contracts are gaining in popularity. They allow you to pay the entire premium upfront, locking in benefit pricing. They also combine life insurance with long-term care to ensure policy owners and their families receive a benefit.

Source: Wall Street Journal


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


Goetz Fitzpatrick’s Donald J. Carbone Defeats NYDOT’s Motion on Appeal to Set Aside a $21 Million Award to GF Client Laquila

Donald J. CarboneBlog Post, Insight

Contact:
Donald Carbone
212-465-1597
[email protected]

Scott D. Simon
212-465-1596
[email protected]

 

Goetz Fitzpatrick’s Donald J. Carbone Defeats NYDOT’s Motion on Appeal to Set Aside A $21 Million Award to GF Client Laquila

Goetz Fitzpatrick LLP senior partner and lead counsel, Donald J. Carbone, obtained a decision awarding approximately $21 million to The Laquila Group Inc. (“Laquila”) against the NYS Department of Transportation (“NYSDOT”) in February 2020 after a 5-day bench trial. The award from the NYS Court of Claims represented delay damages, extended performance and interest. Laquila had previously settled the matter with the NYSDOT for approximately $5 Million, but NYSDOT later backed away from the settlement, forcing a trial of the claims.

The NYS Department of Transportation appealed the Court of Claims’ Decision. The NYS Appellate Division 2nd Department issued a thoughtful and well-articulated decision unanimously affirming the award with minor mathematical corrections. (A copy is attached). Scott Simon assisted Donald in crafting the winning appellate arguments.

In early April, 2024, on behalf of Laquila, Goetz Fitzpatrick LLP filed with the NYS Comptroller the Amended Judgment and the required certifications with the NYS Comptroller requesting payment. The Adjusted Judgment sum as of April 10, 2024, is $28,671,659.69 with interest accruing at $5,101.30 per diem until paid.

Finally, after a 10-year wait, “Justice Prevailed” and Laquila will receive its long overdue payment.


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


Trusts & Estate Planning: How Often Should I Change or Revise My Estate Planning Documents?

Alison Arden BesunderBlog Post, Insight

Contact:
Alison Arden Besunder
212-695-8100, ext. 289
[email protected]

How Often Should I Change or Revise My Estate Planning Documents?

You don’t necessarily need to revise your documents when you change your phone number or move your residence, but you should review your documents every year.

Tax season is a good time to pull them out and review them to make sure that they still meet your circumstances.
Now that your children are older, is the chosen guardian still the person you want to serve?
Has your asset structure changed?
Have you moved to another state?
Is it time to think about the next step in building an estate plan, like implementing a trust?

Or, has some other life-changing event occurred, like a death, illness, divorce or re-marriage for you or another member of your family?
Even if you don’t review your documents every year, a life-changing event is a time when you should take out the documents to make sure they still fit your needs, or whether changes are required. It can help to meet with your lawyer for an hour or so to start the discussion.


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


Planning for Digital Assets: Does Anybody Know Your Passwords?

Alison Arden BesunderBlog Post, Insight

Contact:
Alison Arden Besunder
212-695-8100, ext. 289
[email protected]

Planning for Digital Assets: Does Anybody Know Your Passwords?

On any given day, you likely log on to more than a dozen internet sites, each of which require a username and password that only you know.  When you are incapacitated or die, all that password protection safety can create practical difficulties.  It is likely your estate will include digital assets, for example online financial accounts, domain names and websites, as well as assets that have practical or sentimental value, such as e-mail accounts, photographs, social media, and electronic communications.  These assets all present unique challenges to an executor.

First, how do you marshal (i.e. collect) such assets?  Digital assets are intangible and leave little if any paper trail or tangible footprint.  A Nominated Executor’s appointment by the Court may not be finalized by the time the online service provider’s terms of use allow for a lapse of material in the online account, causing a race against the clock.  If the decedent elected to have paperless statements, the Executor won’t be able to identify accounts or other assets simply by collecting the mail (like in the old days). Some service providers will not allow access to a decedent’s email account absent a court order, even if the executor has been appointed.

The best way to help your Executor properly administrate your estate is to keep an inventory of important digital accounts and assets. You can keep them in a spreadsheet or other paper document with your important estate papers (reducing the likelihood that any mischief-doers would obtain unauthorized access to your user name and passwords).  Some suggestions for the list are below:

  1. Email information: List all your email accounts, the purpose for each account (i.e., start up businesses, personal, junk mail), and the username and password.
  2. Digital photos and movies: Identify where you store your digital photos and videos in your computer, any photo sharing sites you use (with username and password), and the location of any backup or external drives.
  3. Online financial information: Identify any online bank or investment accounts, your username and password, and your account number.  You should also identify any PayPal account or other online purchasing account.
  4. Computer and phone information: List your computers, tablets, smart phones, and the username, passwords, and pins for each device.
  5.  Social networks: Identify your social networks that you use with your username and password.  You should also indicate your wishes as to whether you want your networks to be disabled after your death or maintained. If you want it maintained, who would you like responsible for continuing the profile and for what purpose?  Note that Facebook now allows for specific profiles for these circumstances.
  6. Blogs, Websites and Domain names: Do you maintain a blog? A website? Indicate the registrar/host for the website and the username/password for the blog. Also note how you would like the blog and website handled in the event of death or disability.

Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


Trusts & Estate Planning: How Will My Agents & Executor Find Documents If Something Happens?

Alison Arden BesunderBlog Post, Insight

Contact:
Alison Arden Besunder
212-695-8100, ext. 289
[email protected]

How Will My Agents & Executor Find My Documents If Something Happens to Me?

It is recommended that you inform your nominated agents and successor agents of the roles you have nominated them for.

We also provide our clients with “document locator” cards to give to your nominated fiduciaries. There is a place on the document locator card for you to fill in the location of your important documents (i.e., “bottom right hand drawer of my desk,” etc.). It also has a line for the name and contact information of your health care agent.

You can put the card in your wallet so that your agent can be contacted in an emergency where you might not be able to communicate.
The document locator card also contains the firm’s name and number, so that they can be reached by the agent and can transmit copies of documents where authorized by the client and when necessary.


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


Aaron Boyajian, Managing Partner of Goetz Fitzpatrick LLP, Represents Barry McTiernan & Moore in Headquarters Relocation to One Battery Park Plaza

Aaron BoyajianBlog Post, Insight, Latest news

Contact:
Aaron Boyajian
212-695-7460
[email protected]

Aaron Boyajian, Managing Partner of Goetz Fitzpatrick LLP, Represents Barry McTiernan & Moore in Headquarters Relocation to One Battery Park Plaza

In a strategic move, law firm Barry McTiernan & Moore is set to relocate its headquarters to One Battery Park Plaza, as announced by landlord Rudin. The legal defense firm, expertly represented by Aaron Boyajian, Managing Partner of Goetz Fitzpatrick LLP, has inked a significant 16-year lease for 18,464 square feet on the top floor of the iconic 35-story building. The New York Post initially reported on this milestone. 

With an asking rent of $70 per square foot, this relocation marks a pivotal moment for Barry McTiernan & Moore, which will be moving from its current space of approximately 18,000 square feet at 101 Greenwich Street. 

Founded in 1930, Barry McTiernan & Moore has built a strong reputation for providing expert counsel to insurance companies grappling with general liability claims. The firm has also been instrumental in defending companies across the New York metro area against environmental class actions, including those involving asbestos, talcum powder, benzene, silica, lead poisoning, and chemical exposures. 

Mark Weiss of Cushman & Wakefield (CWK), who facilitated the deal alongside Jonathan Schindler, praised Barry McTiernan & Moore as a “highly respected firm, a leader in the field.” Weiss further noted the exceptional accommodation provided by Rudin, underscoring their commitment to meeting the needs of their tenants. 

This relocation to One Battery Park Plaza signifies not only the expansion and evolution of Barry McTiernan & Moore but also underscores the attractiveness of the building as a prime destination for prominent companies making strategic moves in the heart of New York City. 

Read More: Law Firm Barry McTiernan & Moore Moving HQ to 18K SF at One Battery Park Plaza – Commercial Observer 


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram


Navigating New Property Disclosure Requirements in New York: How Goetz Fitzpatrick LLP Can Assist You

Alison Arden BesunderBlog Post, Insight, Latest news

Contact:
Alison Arden Besunder
212-710-4999
[email protected]

John Simoni
212-695-7765
[email protected]

Navigating New Property Disclosure Requirements in New York: How Goetz Fitzpatrick LLP Can Assist You

For homeowners in New York State, staying up-to-date with recent changes to property disclosure laws is crucial. On September 23, 2023, significant amendments were made to the Property Condition Disclosure Act (PCDA) and the Property Condition Disclosure Statement (PCDS), set to take effect on March 20, 2024. These changes will impact property transactions across the state, and Goetz Fitzpatrick LLP is here to help you navigate the process.

A notable update is the issuance of a new Property Condition Disclosure Statement (PCDS) form by the Department of State, replacing the previous version. This updated form incorporates the latest legal requirements and standards, and it will be mandatory for property transactions moving forward. You can access the new PCDS form on the Department’s website here: https://dos.ny.gov/system/files/documents/2024/03/dos-1614-f-property-condition-disclosure-statement_01.2024.pdf

In addition to changes to the PCDS form, Governor Kathy Hochul signed legislation requiring homeowners to disclose flood risks when selling their properties. This legislation amends Article 14 of the Real Property Law, focusing on disclosing flood risks associated with the property. Sellers are now obligated to provide information about the property’s flood history and its flood insurance claim history to potential buyers. This additional disclosure aims to provide buyers with crucial information to make informed decisions about properties located in flood-prone areas.

Of particular importance is the amendment to RPL Section 465, eliminating the option for sellers to offer a $500 credit to buyers in lieu of completing and executing the Property Condition Disclosure. With this amendment, all sellers will now be required to sign and provide the disclosure to buyers.

These changes have significant implications for both buyers and sellers in New York’s real estate market. Buyers can expect more comprehensive information about properties they are considering, particularly regarding flood risks. Sellers must ensure they understand and comply with the updated disclosure requirements to avoid any potential legal consequences.

As the March 20, 2024 effective date approaches, Goetz Fitzpatrick LLP is ready to assist homeowners and real estate agents involved in property transactions. Our team can provide guidance on navigating the new disclosure requirements, ensuring compliance, and facilitating smooth transactions. With our expertise, you can navigate these changes with confidence, knowing that you have a trusted partner by your side.


Goetz Fitzpatrick LLP has been offering clients insightful solutions throughout the New York Metropolitan area since 1967. The firm provides its clients with expertise in the areas of Construction and Real Estate, Trusts & Estates Administration & Litigation, Commercial Litigation, Corporate, Bankruptcy, and Labor & Employment. The firm’s office is located at One Penn Plaza, Suite 3100, New York, NY 10119, Telephone 212 695 8100, [email protected], www.goetzfitz.com. You can learn more about Goetz Fitzpatrick on: LinkedIn | X (Twitter) | Soundcloud | YouTube | Facebook | Instagram