We are pleased to announce that Patrick L. Cusato, a longtime partner with the Firm, has been elected to serve as Managing Partner. He succeeds Thomas F. Knab, who has served as Managing Partner of the firm since 2022 and who will continue to focus his practice on complex business litigation. “It has been a privilege to serve as the Managing Partner of Underberg & Kessler and to lead our accomplished team,” Knab said. “I have the utmost confidence in Pat. He is ideally suited to build on the Firm’s strong financial position, core values, and outstanding client focus.” Cusato has been with Underberg & Kessler for 36 years and focuses his practice on commercial and residential real estate, mortgage banking, and tax credit development and finance projects. He serves as the Real Estate & Finance Practice Group Chair, a member of the Executive and 401K Committees, and is the Financial Management Partner for the Firm. A strong proponent of being active in community and industry groups, Cusato is an Executive Board member of the Mortgage Bankers Association, Vice President to the Board of Directors of the Bishop Sheen Ecumenical Housing Foundation, past Chair of the Foundation's annual fundraising gala, and past Chair of the Monroe County Bar Association Real Estate Section. He also serves as the Vice President of the Board of Directors of the Lakefront Soccer Club and President of the Board of Directors of the Sports Association of Webster, Inc. Cusato has been recognized in the 2013-2024 editions of The Best Lawyers in America® for his work in Real Estate Law and he has also been selected as an Upstate New York Super Lawyers honoree from 2007-2010 and 2021-2023. In 2022 and 2023, he was recognized by The Daily Record in the Power 20 in Real Estate Law list, and he was the recipient of The Daily Record's Leaders in Law Award in 2018, honoring attorneys who have shown dedication to the legal profession and tireless commitment to the community. Cusato is also a recipient of the 2009 Rochester Business Journal's "Forty Under 40" award. "It has been and continues to be a great honor to be part of this organization, to deliver the best results for our clients, and to act as a valued advisor. I am grateful for Tom’s leadership and dedication. I look forward to building on his legacy and collaborating with my colleagues as we evolve to meet the changing demands and opportunities that lie ahead,” Cusato said.

Congratulations to Tom Knab for being selected to the Rochester Business Journal’s 2023 Power 50 Law list for the second year in a row. The Power 50 list contains a number of lawyers who are managing a Rochester law firm or the Rochester office of a law firm, and also includes judges, civil legal services leaders, and more. “The people on this list help make sure the legal needs of Rochester’s companies and residents are met, and they have helped the local legal community adapt to the changes the COVID-19 pandemic caused. They are working to push the Rochester legal community forward during a time of uncertainty and adaptation, and we are excited to see what they are able to accomplish going forward.” stated Ben Jacobs, Associate Publisher and Editor of the Rochester Business Journal. Tom served as Underberg & Kessler’s Managing Partner from 2022-2023 and is the past Chair of the Firm’s Litigation Practice Group. He has practiced in the New York State and Federal Courts for over 35 years, handling jury and non-jury trials, appeals, arbitrations, and mediations. Tom is well known in the legal community for his practical advice on negotiating and litigating contracts; construction and real estate disputes; drafting and litigating restrictive covenants and employment agreements; representing founders, owners, and executives in partnership, LLC, and corporate disputes; constitutional challenges to governmental actions; and defense of legal malpractice claims. Tom has been recognized in the 2021-2024 editions of The Best Lawyers in America® for his work in Commercial Litigation, Litigation-Construction, Litigation-Insurance, and Litigation-Labor & Employment. He was honored as the 2024 Best Lawyers® “Lawyer of the Year” for Litigation–Construction in Buffalo, NY. From 2021 through 2023, Tom was recognized by the Rochester Business Journal/Daily Record in the Power 20 Litigation list.

Q: Since the COVID-19 pandemic, I have noted an increase in the number of my patients seeking mental health and addiction treatment. However, many do not pursue care because their insurance coverage will not pay for it, including those with employee health plans.  Are there options to assist these patients? A: In late July, the Departments of Health and Human Services, Labor, and the Treasury, announced an expansive new rule to strengthen the federal government’s Mental Health Parity and Addiction Equity Act (“MHPAEA”).[1]  The rule, named “Requirements Related to the Mental Health Parity and Addiction Equity Act,” is intended to increase enforcement of MHPAEA by enhancing restrictions on insurers who provide employer group health plans from limiting coverage for addiction and behavioral health treatment.[2]  The overarching goal of the “landmark” rule is to improve and “strengthen mental and physical health parity requirements and improve mental health care access for more than 150 million Americans...with private health insurance.”[3] The new measures would allow these individuals increased access to insurance benefits for mental health and addiction treatment. The MHPAEA was enacted in 2008 to ensure that patients’ access to mental health treatment is equivalent to their ability to receive care for medical conditions.[4]  In general, MHPAEA precludes private health insurers from adding requirements or restrictions (e.g., additional copayments or authorizations) that are not required for medical care or surgical procedures, in order to receive behavioral health or addiction treatment benefits.[5] However, since the implementation of MHPAEA, patients seeking insurance coverage for mental health or substance use disorder treatment have continued to face more hurdles compared to when seeking medical treatment. Under the new rule, insurance carriers will be required to analyze and confirm that they are complying with MHPAEA. This includes mandating that insurers “analyze the outcomes of their coverage to ensure there’s equivalent access to mental health care, including provider networks, prior authorization rates and payment for out-of-network providers” and to then come into compliance with MHPAEA as necessary.[6]  In addition, the rule clarifies when carriers are precluded from using methods that limit a patient’s access to mental health care (e.g., copayments, prior authorizations). Finally, the new rule will apply to and require additional insurance carriers to come under MHPAEA compliance.[7] Along with the release of the proposed “Requirements Related to the Mental Health Parity and Addiction Equity Act” this summer, the Departments of Health and Human Services, Labor, and the Treasury published a “Technical Release”[8] which establishes principles and invites public comment.  The period for comment was recently extended to the middle of October 2023.[9] Once the comment period is closed, the agencies will analyze the comments and determine if the proposed rule requires revisions.[10]  A “final rule” will then be published in the Federal Register and made available online at  http://www.federalregister.gov.  Unless there is an exemption, the rule will go into effect no sooner than 30 days after its publication in the Federal Register.[11] If the proposed “Requirements Related to the Mental Health Parity and Addiction Equity Act” survives the Federal Register’s comment analysis without significant revisions and is published in the coming months, then care providers should be encouraged that their patients will soon have more accessible insurance benefits for their behavior health and addiction treatment needs. Reprinted with permission from the October/November 2023 issue of The Bulletin from the Monroe County Medical Society and available as a PDF file here. David H. Fitch is a Partner in Underberg & Kessler LLP’s Health Care, Litigation, and Municipal Law Practice Groups. He can be reached at dfitch@underbergkessler.com or 585.258.2840. [1] https://www.healthaffairs.org/content/forefront/new-federal-rules-seek-strengthen-mental-health-parity [2] https://www.healthaffairs.org/content/forefront/new-federal-rules-seek-strengthen-mental-health-parity [3] https://www.whitehouse.gov/briefing-room/statements-releases/2023/07/25/fact-sheet-biden-harris-administration-takes-action-to-make-it-easier-to-access-in-network-mental-health-care/ [4] https://www.dol.gov/newsroom/releases/ebsa/ebsa20230725?_ga=2.267791883.404641303.1696096499-463050911.1696096499 [5] https://www.dol.gov/newsroom/releases/ebsa/ebsa20230725?_ga=2.267791883.404641303.1696096499-463050911.1696096499 [6] https://www.politico.com/newsletters/politico-pulse/2023/07/25/biden-proposes-sweeping-mental-health-changes-00107931 [7] https://www.politico.com/newsletters/politico-pulse/2023/07/25/biden-proposes-sweeping-mental-health-changes-00107931 [8] FR Doc. 2023–21177 Filed 9–27–23; 8:45 am [9] https://www.federalregister.gov/documents/2023/09/28/2023-21177/requirements-related-to-the-mental-health-parity-and-addiction-equity-act-extension-of-comment [10] https://www.regulations.gov/learn [11] http://www.federalregister.gov

Earlier this year, the New York State Legislature passed, and Governor Hochul signed, a minimum wage increase that will take effect beginning on January 1, 2024. These statutory increases – which will impact all employers in New York State - are as follows: While nothing has yet been announced regarding new minimum wages for tipped employees, employers should note that previously required cash wages and tip credits were equal to the regular minimum wage in each of the geographic locations identified above. It is anticipated that this will be the same for 2024. The minimum wage will continue to increase by $0.50 each year in 2025 and 2026. Beginning in 2027, any increases to the minimum wage will be determined by the U.S. Department of Labor Consumer Price Index and published by the New York Department of Labor (“NYSDOL”) on October 1 each year for the rate to take effect January 1 of the following year. To that end, there will be no increase for a given year if the inflation index is negative, if New York State’s unemployment rate increases by half a percentage point from its low during the preceding year, or if the number of total non-farm state employees decreases over the prior six months. Last week, the NYSDOL published proposed regulations that are required to accompany the minimum wage increases. These proposed regulations also contained new minimum salary requirements for qualifying employees exempt from the New York Labor Law (“NYLL”) minimum wage and overtime requirements under an Executive or Administrative exemption. The proposed hourly, weekly, and yearly salary thresholds necessary to meet the Executive and Administrative exemptions are as follows: Although these proposed regulations by the NYSDOL are subject to a comment period, they are likely to be finalized without significant changes. Following the comment period, the new salary thresholds would take effect with the previously finalized minimum wage raises on January 1, 2024. Further, effective March 13, 2024, there are new minimum salary requirements for clerical and other exempt employees under Article 6 of the NYLL. Pursuant to the new requirement, the minimum salary for covered employees to be exempt from weekly pay requirements – essentially, allowing an employee to be accurately classified as a non-manual worker – will increase from $900/week (or $46,800/year) to $1,300/week (or $67,600/year). If you have any questions regarding this article, please contact the Underberg & Kessler attorney who regularly handles your legal matters, or Ryan T. Biesenbach at (585) 258-2865 or rbiesenbach@underbergkessler.com.

Getting married is a significant turning point in life that can bring big changes for newlyweds well beyond their wedding day. After spending months (and maybe years) planning your dream wedding and after the excitement of the day subsides, it’s time to consider your newlywed estate plan. As a couple, there are new options and new concerns that you need to be aware of. Below is a summary of some of the estate planning items newlyweds should consider: Financial Accounts The following accounts can be updated to reflect a spouse as the new beneficiary or as transfer on death designated beneficiary: Existing Checking/Savings Account Life Insurance: Employer-based and stand-alone policy if you already have one Investments: Stocks, bonds, mutual funds, etc. Retirement Accounts: 401(k), IRA, Roth IRA, 403(b) Military Benefits Pension: SEP/SARSEP Property, titles, and assets that might currently name someone else as the beneficiary (e.g., you named a sibling to receive a benefit that your spouse should now be getting) Here are some other accounts that newly married individuals may consider creating or consolidating: Open Joint Banking Account/Credit Cards Health Insurance Car Insurance: Look into getting a family (a.k.a. umbrella) plan for the household Mobile Phone Plan: Look into getting a family plan for the household Re-Title Property Ownership Documents: This applies to homes, cars, or other titled assets Duplicate Accounts/Services: Consolidate accounts that each of you owned separately prior to getting married (e.g., Netflix), so you’re not paying for two separate accounts Last Will and Testament A last will and testament is a legal document that communicates a person's final wishes pertaining to their assets. It provides specific instructions about what to do with their possessions. It will indicate whether the deceased leaves them to another person, a group, or wishes to donate them to charity. If you currently have a Will, update it to account for your spouse. If there will be babies in your future, or you already have kids, this is where you designate the guardians for the minor children if you and your spouse pass away. Power of Attorney Your Power of Attorney (POA) has power over everything involving your finances. This includes paying bills, managing bank accounts, overseeing investments, signing contracts, and filing your taxes. Most spouses appoint each other as the primary agent, and it is prudent to name a successor agent as well. Health Care Proxy/Living Will A Health Care Proxy/Living Will is a document that authorizes an agent to make all health care decisions for a principal if he/she is unable to make them on his/her own behalf. This form also authorizes the agent to make decisions to remove or provide life-sustaining treatment, if you so desire. Life Insurance A spouse might already have life insurance through his/her job, but it likely will no longer be enough to support a new family if something happens to a spouse. Newly married individuals should meet with their insurance agent to discuss increasing the amount of the policy. Identification You accumulate a lot of identification and official documentation throughout your life. It is good idea to organize all documents in case you need it to buy a house, get insurance, or do other things. Here’s a rundown: Marriage Certificate Birth Certificate Social Security Card Passport Armed Forces ID/Discharge Papers Citizenship Documentation Prenuptial or Postnuptial Agreement Divorce Decree (from previous marriages) Documents related to any children you already have (e.g., adoption or legal guardianship papers) Digital Assets Sharing passcodes and passwords to the following devices and systems is extremely helpful: Mobile Phone(s) Computer(s) Tablet Home Security System WIFI Along these lines, there are many other digital accounts and online services that spouses will be sharing with each other to make sure the household runs smoothly. Here’s a handy list of such things: Password Manager: If you use a password manager, your master password is the most important one to share Home Utilities: Power, cable, phone, etc. Health/Medical: insurance provider, prescription services Financial/Money Management: Auto-payments, budgeting Entertainment: video, music, gaming Food/Shopping/Delivery Services Cloud Storage: Photos, media Travel/Ticketing/Rewards: frequent flyer miles, reward points Need Help with the Next Steps? Underberg & Kessler’s Estates & Trusts attorneys can work with you to formulate the best estate planning strategy to meet your goals — in all stages of your estate planning journey. For more information, contact Joshua B. Beisker at jbeisker@underbergkessler.com or 585-258-2879.

We were thrilled to support the Small Business Council’s (a Greater Rochester Chamber affiliate) Thanksgiving Appeal once again. This year, we doubled our goal and donated 10 boxes filled with Thanksgiving food items and gift cards. Cheers to our U&K team! Happy Thanksgiving to all - wishing you a harvest of blessings, good health, and good times!

The IRS recently published annual inflation adjustments for 2024 that relate to gift and estate taxes. Annual Gift Tax Exclusion Each year, the IRS sets the annual gift tax exclusion, which allows a taxpayer to give a certain amount (in 2024, $18,000) per recipient tax-free without using up any of the taxpayer’s lifetime gift and estate tax exemption (in 2024, $13.61 million). For married couples, this means that they can give $36,000/year per recipient beginning next year. For example, if a married couple has three children and five grandchildren, they may transfer $288,000 in 2024 to their descendants without touching their combined $27.22 million gift tax exemption, thus allowing them to transfer further substantial assets gift-tax-free. Not only are the assets removed from the taxpayers’ taxable estates, the assets’ future appreciation also avoids gift and estate taxes. In 2023, the federal gift tax annual exclusion amount was $17,000, or $34,000 for a married couple choosing to split gifts. The new exclusions go into effective on January 1, 2024. Lifetime Estate and Gift Tax Exemption If an individual gifts an amount that is above the annual gift tax exclusion, a portion of the individual’s lifetime gift tax exemption ($13.61 million in 2024) will be used. The gift and estate tax exemption are linked, meaning that the use of one’s gift tax exemption will reduce the amount one may leave at death estate-tax-free. If an individual makes gifts more than the annual gift tax exclusion, a gift tax return will be due on April 15 the following year to report the gift (and track the amount of the lifetime exemption that has been used). Notably, although the IRS has announced that the lifetime estate and gift tax exemption will increase to $13.61 million in 2024, under current law, that amount will be decreased by half at the start of 2026. Annual Gift Tax Exclusion for Gifts to Non-US Citizen Spouse Spouses who are both US citizens may usually transfer unlimited amounts to each other without incurring any gift tax, as any assets in excess of the couple’s combined estate tax exemption ($27.22 million in 2024) will be taxed at the death of the surviving spouse, and transferring assets to the survivor only defers the tax that the IRS will eventually collect. Gifts to a non-US citizen spouse, however, are limited. Since a non-US citizen spouse may not be subject to the US estate tax, one cannot transfer unlimited assets to a non-US citizen spouse because that transferred wealth could potentially avoid US estate taxation upon the non-US citizen spouse’s death. When the recipient spouse is not a US citizen, and regardless of whether the non-US citizen spouse is a resident or nonresident of the United States, the amount of tax-free gifts is limited to an annual exclusion amount. For 2024, the first $185,000 of gifts to a spouse who is a non-US citizen are not included in the total amount of taxable gifts. Underberg & Kessler’s Estates and Trusts attorneys can help you maximize these benefits and ensure you are getting the most value out of your estate and gifting plans. For more information, contact Joshua B. Beisker at jbeisker@underbergkessler.com or 585-258-2879.

Congratulations to Tom Knab for being selected to The Daily Record's 2023 Power 20 Litigation List for the third year in a row. The Power 20 list showcases power players in the Western New York legal community who are recognized as leaders in their area of practice. “The people on this list help their clients resolve complex legal matters that often have dire consequences for their financial well-being, whether the client is a business or an individual. These attorneys have also advocated for their clients during a time of unprecedented disruption due to the COVID-19 pandemic, social unrest and more. They have had to navigate new rules from federal and state government and the court system and have had to embrace new ways of practicing law,” stated Ben Jacobs, Associate Publisher and Editor of The Daily Record. Tom serves as Underberg & Kessler’s Managing Partner and Chair of the Firm’s Litigation Practice Group. He has practiced in the New York State and Federal Courts for over 35 years, handling jury and non-jury trials, appeals, arbitrations, and mediations. Tom is well-known in the legal community for his practical advice on negotiating and litigating contracts; construction and real estate disputes; drafting and litigating restrictive covenants and employment agreements; representing founders, owners, and executives in partnership, LLC, and corporate disputes; constitutional challenges to governmental actions; and defense of legal malpractice claims. Tom has been recognized in the 2021-2024 editions of The Best Lawyers in America® for his work in Commercial Litigation, Litigation-Construction, Litigation-Insurance, and Litigation-Labor & Employment. He was honored as the 2024 Best Lawyers® “Lawyer of the Year” for Litigation–Construction in Buffalo, NY. In 2022, Tom was also recognized by the Rochester Business Journal in the Power 50 in Law list.

We are pleased to announce that the Firm has been recognized for its professional excellence in multiple practice areas in the 2024 edition of Best Law Firms®. Best Law Firms rankings, awarded nationally and within 188 metropolitan areas across the United States, are determined by client/professional reference feedback, information provided by firms, industry leader interviews, and feedback collected through the Best Lawyers research process. Only 4% of firms in the United States are considered for a Best Law Firms ranking, which are based on input on expertise, responsiveness, civility, cost effectiveness, and understanding of the client’s underlying business. Underberg & Kessler received the following rankings in the 2024 edition of the Best Law Firms: Buffalo, NY Environmental Law (Tier 3) Legal Malpractice Law – Defendants (Tier 3) Litigation – Construction (Tier 2) Litigation – Insurance (Tier 1) Litigation – Labor & Employment (Tier 3) Real Estate Law (Tier 3) Rochester, NY Banking and Finance Law (Tier 1) Civil Rights Law (Tier 2) Closely Held Companies and Family Businesses Law (Tier 2) Commercial Finance Law (Tier 2) Commercial Litigation (Tier 2) Corporate Law (Tier 1) Elder Law (Tier 2) Health Care Law (Tier 1) Labor Law – Management (Tier 2) Litigation – Health Care (Tier 1) Litigation – Labor & Employment (Tier 2) Medical Malpractice Law – Defendants (Tier 2) Municipal Law (Tier 1) Real Estate Law (Tier 1) The 2024 Best Law Firms rankings can be accessed at www.bestlawfirms.com.

On October 12, 2023, the New York State Public Service Commission (“PSC”) issued a key decision denying petitions of offshore wind developers and a state trade association requesting billions of dollars in additional state money on four proposed offshore wind projects and 86 land-based projects. The PSC decision determined to preserve the competitive bidding process and deny the developers additional subsidies. Based on the reaction of green energy developers and climate change proponents, the decision may have long-range impacts on New York and the federal transition to renewable energy. As reported in past articles, New York’s Climate Leadership and Community Protection Act (“CLCPA”) calls for greenhouse gas reduction from 1990 levels of 40% by 2030 and 85% by 2050. Consequently, New York is seeking a renewable energy generation target of 70% by 2030 and 100% emissions free by 2040. These targets are exceedingly ambitious and are rift with siting, approval, implementation, and reliability concerns. A Final Scoping Plan (“the Plan”) developed by the CLCPA Climate Action Council was approved by the Council on December 19, 2022, by a 19-3 vote. The Plan mandates transforming New York’s power system to meet the CLCPA standards. Although market changes with wind, solar, and hydropower have transitioned away from fossil fuel sources such as coal for electric generation and reduced emissions by 46% since 1990, the Plan aims to move rapidly beyond that. In particular, to meet the 2040 goal of an electric system that produces no emissions in 2040, it calls for the deployment of 6,000 megawatts of solar by 2025 and 9,000 megawatts of offshore wind by 2035. The Plan also calls for deploying 3,000 megawatts of energy storage by 2030 in an attempt to create more in-state power and flexibility. The petitions to PSC were submitted by Empire Offshore Wind LLC and Beacon Wind LLC, Sunrise Wind LLC, and the Alliance for Clean Energy New York (“ACENY”). The petitions sought adjustment to the Renewable Energy Credit (“REC”) and Offshore Wind REC purchase and sale agreements entered with New York State Energy Research and Development Authority (“NYSERDA”) to address recent inflationary issues impacting the proposed projects. In denying the requests, the PSC Commission Chair Rory M. Christian stated that “[t]he requested amendments to the contracts would have provided adjustments outside of the competitive procurement process; such relief is fundamentally inconsistent with long-standing Commission policy. The Commission has repeatedly stated that competition in the procurement process is necessary to protect ratepayers and provides the soundest approach to mobilize the industry to achieve our critical State goals dependably and cost-effectively, and we do so again through today’s action.” Significantly, the PSC found that the requested contract amendments sought by Empire/Beacon, Sunrise and ACENY “were not in the best interest of the State’s ratepayers.” In particular, “on monthly bill basis, granting the request to amend the executed contracts outside the competitive procurement process would have resulted in as high as 6.7 percent increases for residential customers and as high as 10.5 percent for commercial or industrial customers on a monthly bill depending on service territory and the level of relief provided ---above what has already been committed.” The four projects impacted by PSC’s decision, Empire Wind 1, Empire Wind 2, Beacon Wind, and Sunrise Wind, represent approximately half of the offshore wind capacity that New York State has committed to achieve by 2035. The four projects all remain in the proposed phase and were slated to enter operations between 2025 and 2028. The only other New York wind project in place, South Fork Wind, was approved by the federal government in 2021. The PSC decision was quickly criticized by clean energy groups. ACENY’s Executive Director, Anne Reynolds said that “[t]the decision is shortsighted. We were hoping the Commission would act strategically on behalf of ratepayers and the environment; instead, their decision will result in increased costs and greenhouse gas emissions.” Similarly, the American Clean Power Association CEO, Jason Grumet said that “[w]ith one shortsighted decision, the NYSPC has thrown New York’s environmental and clean energy future into peril. Absent robust offshore wind industry, it will not be possible for New York State to achieve its climate and environmental justice goals.” Following PSC’s decision, Governor Hochul announced a 10-point plan to expand and support large-scale renewable energy in the state. One of the action points is to expand offshore wind development through increased competition and a larger pool of developers. In the wake of PSC’s decision to deny the additional subsidies for the four projects, there are mounting concerns from green developers and climate change interest groups that the companies will cancel their contracts due to lack of profitability. NYSERDA has been charged with exploring expedited procurement process to meet the state’s lofty renewable energy goal of 70% by 2030. Until this point, the CLCPA and the Plan have moved forward with little resistance. PSC’s decision to raise issues about competitive bidding on large-scale wind and solar projects and protection of ratepayers is a significant first roadblock. While the CLCPA goals have been lauded by the state, green developers, and interest groups, there has been virtually no consideration of implementation costs and what will be passed along to New York consumers and taxpayers. The PSC decision should serve as an awakening that compels other agencies and elements of New York’s government to fundamentally consider whether the CLCPA goals and objectives are achievable. George S. Van Nest is a Partner in Underberg & Kessler LLP’s Litigation Practice Group and Chair of the firm’s Environmental Practice Group. He focuses his practice in the areas of environmental law, development, construction, and commercial litigation. George can be reached at gvannest@underbergkessler.com . Reprinted with permission from The Daily Record and available as a PDF file here .

Did you know the federal estate and gift tax exemption amounts are set to decrease at the end of 2025? Currently, an individual can make transfers by gift during life, and bequests at death, up to an aggregate of $12.92 million, with that amount increasing to $13.44 million in 2024, without incurring gift or federal estate tax. Similarly, the federal GST exemption is currently $12.92 million, increasing to $13.44 million in 2024. On January 1, 2026, these amounts are scheduled to “sunset” and revert back to the 2017 amount of $5 million, adjusted for inflation. With the scheduled sunset of the all-time-high unified estate and gift tax exclusion amounts, now is the time to address estate and tax planning updates and to consider the use of the gift and generation-skipping transfer exemptions. The estate planning attorneys at Underberg & Kessler LLP advise clients and utilize sophisticated estate planning strategies to preserve and enhance our clients’ wealth for current and future generations. For more information about our Estates and Trusts legal services, contact Joshua B. Beisker at jbeisker@underbergkessler.com or 585-258-2879.

When working with estate planning clients, I recommend that they talk with their family about their estate plan. It can be very beneficial for family members as it provides some peace of mind for them to know that a plan is in place and that things are in order. Ultimately, the level of detail that the client provides to his or her family members depends on the client’s comfort level. Some clients may want to discuss what they're trying to accomplish with their plan when talking with their children or family members. Many clients want to talk with their family about the details of the plan or share the actual plan itself, while others want to discuss the plan in more general terms to advise them that a plan is in place and advise them who to contact when and if that day comes to get copies of the documents. Every family situation is different, and it is important to remember that working closely with your counsel, doing as much planning as you can ahead of time, and giving yourself the time and focus that you need for this type of plan you envision is critical to the success in the end. That said, prior to discussing a plan with family members, it is prudent to first speak with an estate planning attorney to determine what information will be discussed, and which family members will be involved in the meeting. For more information about our Estates and Trusts legal services, contact Joshua B. Beisker at jbeisker@underbergkessler.com or 585-258-2879.