With unsurpassed expertise, Gallet Dreyer & Berkey, LLP attorneys are frequently called upon to comment on business, financial, political and legal developments around the world as well as on the implications of big deals, noteworthy cases, community news, and proposed legislation.
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Is Estate Planning Still Necessary Under the New Tax Law?7/11/18 | By: David N. Milner, Esq. | GDB 2018 Summer Newsletter
As part of the changes that were made to the Internal Revenue Code in December 2017, Congress doubled what is referred to as the “life-time exemption,” the amount that can be transferred by gift while alive or upon death without paying gift or estate tax. While referred to as an exemption, there is no place on either a gift tax return or an estate tax return to reflect the available “exemption.” Rather, each individual has available a lifetime credit to be used to offset the gift tax that is due on any taxable gifts made while alive with any unused portion of the credit available to offset the estate tax that is due on their taxable estate. This distinction and change are critical in that without proper planning, the estate tax liability will be higher than necessary.
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Limitation of Liability Clauses — Does It Mean You Can Breach With Impunity?7/11/18 | By: Randy J. Heller, Esq.| GDB 2018 Summer Newsletter
Limitation of liability clauses are all the rage, whether among participants on a construction project or in other fields. These clauses are broadly enforced and there is precious little room to escape them. As is made clear in a recent case, even an action which seems gratuitously malicious might not in certain circumstances serve to void the limitation of liability clause as long as it was done for one's legitimate economic self-interest.
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Enclosed Balconies Can Stay - Provided They're Safe5/3/18 | Habitat Magazine
Marc Luxemburg, partner at Gallet Dreyer & Berkey, LLP and president of the New York Council of Cooperatives and Condominiums, quoted in Habitat Magazine's article "Enclosed Balconies Can Stay – Provided They’re Safe."
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For a Mess Made by a Few, Many May Be Punished4/29/18 | The New York Times
GDB Partner, Peter R. Massa, Esq. is quoted in the Real Estate Section of The New York Times answering the question regarding what can be done if a mess is left in the common spaces of a co-op.
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Partner Beatrice Lesser Won a Unanimous Affirmance from the Appellate Division04/2018
Partner Beatrice Lesser won a unanimous affirmance from the Appellate Division in a case where the underlying issue concerned a cooperative corporation’s obligation to give a shareholder’s lender notice of the shareholder’s non-monetary default of the proprietary lease. Where the cooperative’s records do not include a copy of the lender’s recognition agreement, counsel is advised to perform an independent search on ACRIS for a UCC-1 and give the lender notice of the shareholder’s default even if it doesn’t have a copy of the recognition agreement.
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Eugene H. Goldberg, Esq. is Published in the New York Law Journal5/2018 | New York Law Journal
Associate Eugene H. Goldberg’s article titled “Contract Third-Party Beneficiaries and Duplicative Causes Against An Architect” appeared as an outside counsel article in the New York Law Journal.
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Insurance for Coops2/2018 | Habitat Magazine: David L. Berkey, Esq.
Senior partner and head of GDB's Cooperative and Condominium Law practice, David L. Berkey, discusses issues related to coops and insurance.
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Coops' Proprietary Leases and Apartment Alterations2/2018 | Habitat Magazine: Marc J. Luxemburg, Esq.
Gallet Dreyer & Berkey, LLP partner and President of the Council of New York Cooperatives & Condominiums, Marc J. Luxemburg discusses coop proprietary leases and apartment alterations.