Arthur L. Gellert is Counsel to the law firm of Teahan & Constantino, LLP of Poughkeepsie and Millbrook, New York.

His practice largely consists of estate planning, trusts and estates and estate administration. He is also a “transactional ” attorney, servicing clients in the sales and purchases of businesses, and of real estate, large and small.

REAL ESTATE

stone house

Every parcel of real estate is unique. As a wise person once said, they aren’t making any more of it.

 

Each purchase, sale and financing of real estate is likewise unique. I’ve been there for clients in the purchase and financing of such real estate transactions as a $20 Million multi-family complex, office buildings, wood lots and hiking trails, and the Great American Dream of home ownership.

 

For each of these transactions, I must consider title issues, and often surveys, municipal violations, lender requirements, and payoffs of liens such as mortgages or judgments.

 

There are many details to be attended to in all real estate transactions. I’ve seen them all and am prepared to give each client the benefit of many years of experience.

ESTATE PLANNING

last will and testament

Estate planning involves much more than simply providing for the disposition of assets at death. There are so many questions I am sure to ask:

  • Do you have an existing Last Will and Testament?
  • Is your estate taxable?
  • How can we avoid that?
  • Are there children from a prior relationship?
  • Is a trust a good idea?
  • Should it be revocable or irrevocable?
  • Is there a person who is developmentally disabled or other special needs?
  • Who will handle your estate when you are gone?
  • Have you given a Power of Attorney to someone who can act for you?
  • How about a Health Care Proxy and Living Will?

The questions are almost endless when preparing a proper estate plan. My experience spanning many decades will assist you in achieving peace of mind.

ESTATE ADMINISTRATION

note taking

If I have developed an estate plan for you, it will make the administration of an estate as simple as possible.

 

Probating a Will is often not necessary. But if we do submit a Will to probate, in most cases the procedure is quite simple. We often assist with the transfer of assets to a beneficiary, at a given point, filing an estate inventory with the Surrogate’s Court is accomplished, and soon thereafter the termination of the estate can begin.

 

Along the way, there can be other considerations, such as determining commissions of executors and/or trustees, coordination with an accountant, sign offs by beneficiaries, and occasionally dealing with a disgruntled family member.

 

Whatever the issue, we’ve seen it before, and I pledge to make it as easy on the survivors as I possibly can.

BUSINESS TRANSACTIONS

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A transactional attorney needs to be ready to represent clients with something to sell, or the desire to buy something of value.

 

I have represented clients in the purchase and sale of factories, restaurants, condos and co-ops, cattle, leases, computer support companies, and other commodities. Many of these transactions require the creation of corporations or limited liability companies (LLCs). Coordination with certified public accountants is essential to determine the tax consequences of allocating the price among good will, fixtures, leasehold value and the like.

 

These are not actions that I recommend be handled without competent, experienced counsel. I am prepared to carefully listen to your intentions, and act upon them on your behalf.