John J Leonard Law Office The Law Office of John J. Leonard2026-11-04T06:16:38Zhttps://www.lojl.com/feed/atom/WordPress/wp-content/uploads/sites/1503099/2021/03/cropped-Favicon-32x32.pngOn Behalf of The Law Office of John J. Leonard<![CDATA[New York’s decanting statute can modernize outdated trusts]]>https://www.lojl.com/?p=474322026-10-30T05:17:37Z2026-11-04T06:16:38ZThe decanting statute in New York gives trustees a practical way to update an old trust outside court. It allows a trustee to “pour” assets from an outdated trust into a new trust with clearer terms, better tax planning or more flexible management provisions.
This tool has become increasingly important as families face changing laws, evolving financial needs and modern asset types.
When decanting is allowed
New York permits decanting when a trustee has discretionary authority over distributions. A trustee with full discretion may adjust a range of provisions, while a trustee with limited discretion must follow narrower rules. Decanting is often used when a trust no longer fits a family’s circumstances. Common triggers include unclear distribution standards, outdated tax language and beneficiary provisions that no longer reflect current relationships. Each situation benefits from a process that updates the trust while keeping its original intent intact.
What decanting can accomplish
Decanting can help resolve several practical issues by allowing a trustee to:
Improve administrative terms: Add modern provisions that reflect today's financial markets.
Update tax‑related language: Ensure the trust is optimized for shifting state and federal tax laws.
Clarify beneficiary rights: Restructure distribution schedules or strengthen safeguards for vulnerable beneficiaries.
The improvements decanting offers help the trust function smoothly and reduce the risk of disputes or court involvement.
Limits trustees must follow
The statute includes guardrails to prevent misuse. A trustee cannot use decanting to reduce a beneficiary’s vested rights, alter certain fixed interests or violate the trust’s core purpose. Additionally, beneficiaries must receive advance written notice, allowing them to review the changes before they take effect. When used correctly, decanting preserves the trust’s intent while improving clarity, flexibility and long‑term stability. Next step: speak with a legal professional to learn how to use the decanting statute effectively.]]>On Behalf of The Law Office of John J. Leonard<![CDATA[Is your soon-to-be ex-spouse hiding assets?]]>https://www.lojl.com/?p=474282026-10-15T08:23:16Z2026-10-20T08:22:15ZDivorcing spouses must complete and exchange a sworn statement of net worth under New York law. Transparent financial disclosure ensures fair property division and support. Unfortunately, it’s not uncommon for people to hide assets when going through a divorce.
A few signs can help you identify if your spouse has not included crucial information on the financial disclosure. These include:
Financial discrepancies
If your spouse reports unexplained drops or delays in income, bonuses, commissions or freelance earnings, they may be delaying client billing cycles/invoicing or postponing bonuses/commissions until the divorce is finalized. If they own a business and report revenue or profit drops before the divorce, they may be inflating business expenses, pushing client billing or overpaying taxes to lower the company’s net profit on paper.
Document discrepancies
Inconsistencies on the documents your spouse submits can help you know whether they are hiding assets. For example, when figures on the sworn Statement of Net Worth do not match those on pay stubs, tax returns or bank statements. You should also take action when you notice a document has not been submitted. Or when a submitted document is missing a timeframe. For instance, bank statements with unexplained gaps or missing pages. Your spouse may be concealing large transfers or withdrawals.
Sudden interest in cryptocurrency
If your spouse is suddenly interested in cryptocurrency, they may be converting marital funds into hard-to-trace digital assets. You may have heard them ask about cryptocurrency or seen downloaded crypto apps if their device uses an account that’s linked to yours.
Sudden secrecy
If your spouse has become secretive or defensive regarding passwords, mail or financial statements, they may be hiding assets. Inaccuracies in financial disclosure during divorce can lead to an unequal distribution of property. If you believe this is happening to you, consider legal guidance to protect your interests. ]]>On Behalf of The Law Office of John J. Leonard<![CDATA[Using gifting strategies to reduce New York estate tax exposure]]>https://www.lojl.com/?p=473202026-10-05T08:27:50Z2026-10-08T08:26:59ZThe estate tax structure in New York creates unique challenges for those with assets that approach or exceed the state exclusion amount. Because New York applies a steep estate tax cliff, even modest increases in estate value can trigger significant liability.
Thoughtful lifetime gifting can reduce exposure, but strategies must be implemented with precision and awareness of state and federal rules.
The estate tax framework
New York's estate tax cliff can cause an entire estate to become taxable if it surpasses the threshold by more than a small margin, making proactive planning essential. Lifetime gifts can reduce the taxable estate, but they must be evaluated carefully because the state adds back certain gifts made within three years of death.
Strategic lifetime gifting options
Lifetime gifting offers several ways to reduce estate size, based on the individual’s goals and circumstances:
Annual exclusion gifts allow individuals to transfer assets up to the federal exclusion amount to multiple recipients without affecting federal lifetime exemption amounts.
529 plan contributions can remove assets from the estate while supporting education planning.
Gifts of appreciating assets can shift future growth out of the estate, which is particularly useful for those holding investment portfolios or business interests.
When used consistently and documented properly, these strategies can be highly effective. They also work best when coordinated with long‑term planning to avoid New York’s three‑year addback rule.
Coordinating gifting with broader planning
Gifting should be integrated into a comprehensive plan that accounts for liquidity needs, tax implications and long‑term financial goals. This involves considering how gifting affects the overall estate structure, including the potential impact on beneficiaries and the timing of transfers. When executed professionally, estate plan gifting strategies can meaningfully reduce estate tax exposure while preserving flexibility and control over long‑term asset management.]]>On Behalf of The Law Office of John J. Leonard<![CDATA[Can a non-biological father get ordered to pay child support?]]>https://www.lojl.com/?p=473162026-09-25T06:12:04Z2026-09-30T06:10:32ZWhen the law treats a man as a father despite biology
New York courts recognize something called "paternity by estoppel." This legal principle can require you to continue financially supporting a child even when DNA proves there is no biological connection.
New York courts apply this principle when a man:
Built a parenting relationship with the child over an extended period
The law looks at your relationship with the child and the role you've played in their life. If you signed anything legally establishing yourself as the father, then that single signature creates enforceable obligations. Courts view this document as your voluntary acceptance of parental responsibility, making it difficult to walk away later.
Time limits matter when challenging paternity
You can't challenge paternity indefinitely. New York law sets strict deadlines on paternity challenges.
Generally, you have 60 days from the date you signed the acknowledgment to rescind it without needing to prove anything beyond your change of heart. After that window closes, courts require clear and convincing proof of fraud, duress or a significant mistake of fact.
Take note that the longer you wait, the harder it becomes to challenge your legal status as the father.
Why courts put a child's stability above everything else
Family courts prioritize stability for children above all else. Even when DNA evidence confirms no biological connection, courts may still require financial support if the child has come to depend on you emotionally and financially.
Judges consider how severing your relationship with the child might harm them. If you've acted as a father for years, paying for needs and building memories together, courts often decide that continuing your support serves the child's welfare.
The biological truth, while important, doesn't always override the child's need for consistency and security.
Establishing paternity early protects your rights
So, can a man pay child support for a child who isn't biologically his? In New York, yes.
Establishing paternity early protects not only you but everyone involved. Doing this early protects your financial future and gives the child the stability they deserve.
Professional legal guidance helps you make informed decisions during this emotionally charged time, ensuring you protect both your financial future and the child's stability.]]>On Behalf of The Law Office of John J. Leonard<![CDATA[Estate planning for real property in multiple states]]>https://www.lojl.com/?p=473192026-09-24T06:35:39Z2026-09-29T06:34:38ZFamilies who own homes or land in more than one state often face added complexity when planning for future transfers. Since each state has its own probate rules, tax structure and property laws, a plan that works well in one jurisdiction may create delays or added costs in another.
Developing a clear strategy can help reduce administrative burdens and make certain that property passes according to your wishes.
Managing multi‑state probate
When an owner dies with real property located outside the home state, their estate may need to open ancillary probate proceedings. This process allows the other state to recognize the primary probate and authorize the transfer of local property. Ancillary probate can increase timelines and associated expenses, so many individuals look for ways to avoid it. Using planning tools that streamline transfers can reduce the need for court involvement.
Using trusts to simplify transfers
A revocable trust is a common method for managing property in multiple states. When real estate is titled in the name of the trust, the property can pass to beneficiaries without going through probate in each jurisdiction. This approach helps maintain privacy and reduces administrative steps. It also allows the trustee to manage or sell property during incapacity or after death without waiting for court approval.
Coordinating state‑specific requirements
Each state has its own rules for deeds, homestead protections and property taxes, making it important to ensure that documents comply with local law. Key considerations include:
Ensuring deeds are properly recorded
Confirming property tax obligations
Reviewing state‑specific transfer rules
A coordinated estate plan can help prevent delays and unexpected costs. With strong legal guidance, you can create a structure that supports efficient management and smooth transfers across state lines.]]>On Behalf of The Law Office of John J. Leonard<![CDATA[Who do you pick as your trustee?]]>https://www.lojl.com/?p=473152026-09-02T10:54:25Z2026-09-07T10:53:42ZA trust can be added to an estate plan to protect assets from probate, estate taxes and debt collectors. Assets in a trust are managed by a trustee, and it’s critically important to make sure that you choose the right party for that role.
Before choosing your trustee, you may want to learn more about what a trustee does and what qualities they should have. Here is what you should know:
What does a trustee do?
A trustee is typically responsible for managing and distributing funds to a trust’s beneficiaries according to the terms of the trust. A trustee’s fiduciary duty can include monitoring trust investments, avoiding conflicts of interest, disclosing any information about the trust to beneficiaries and generally managing the funds or investments to the best of their ability. Most importantly, a trustee has a fiduciary duty to act in the best interests of the trust and its beneficiaries.
What qualities should a trustee have?
A trustee can be a family member, close friend or professional accountant. However, that does not mean just anyone should be the trustee of your trust. You want to choose someone with:
The practical skills to handle the administrative details of the trust: Keeping records, paying bills, tracking funds, making investments and meeting deadlines are all part of the job. Your chosen trustee should either have the skill to manage these details or be willing to hire the appropriate advisors, accountants or assistance.
The personal qualities you expect: You clearly want your trustee to be honest, impartial and fair, but they should also be good at communication and capable of avoiding conflicts with the beneficiaries.
The time and ability to perform the role: Your chosen trustee should be geographically available and have the time and energy necessary to do the work.
Sometimes, there is no family member or friend that meets the criteria for a good trustee. In those situations, it may be necessary to hire a professional trustee.Before drafting a trust, you may want to reach out for professional legal guidance to learn about your legal options.]]>On Behalf of The Law Office of John J. Leonard<![CDATA[What should you know about child custody?]]>https://www.lojl.com/?p=473112026-08-19T08:07:54Z2026-08-24T08:07:02ZDivorce can be a very difficult time for parents and children. Parents often struggle to explain to their children what will happen after the divorce. Parents may consider learning more about child custody and discussing it with each other before talking to their children.
Understanding the basics of child custody can help parents prepare for the future. There are a few terms to understand when learning about child custody. The first two terms are legal and physical custody. Here is what you should know:
What are legal and physical custody?
Legal custody means that a parent can decide how their child is raised. When parents have joint legal custody, they can work together to decide where their child goes to school, for example. Co-parents may have to talk about their child’s medical care, interaction with their community or religious upbringing, for example.Physical custody refers to where a child lives. Co-parents who share physical custody often have custody schedules. A custody schedule determines where a child lives each day of the week and when parents are responsible for caring for their child.Sometimes one parent has custody of their child. This is referred to as sole custody. A parent with sole legal custody can decide how their child is raised without input from the other parent. A parent with sole physical custody is responsible for their child’s daily care. The other parent may only have visitation days.Want to learn more about child custody? You can reach out for professional legal guidance to learn more.]]>On Behalf of The Law Office of John J. Leonard<![CDATA[Can you ensure a beneficiary makes wise decisions?]]>https://www.lojl.com/?p=473082026-08-05T08:51:40Z2026-08-10T08:51:03ZFor wealthy couples who are doing their estate planning, there can be some concerns over how beneficiaries will use their inheritance. Perhaps you are drafting your estate plan in your 50s, and you have a child who is technically a legal adult, but they are still in college. You are worried that, should they suddenly receive a large inheritance, they will not necessarily make wise decisions with that money.
Fortunately, there are some estate planning steps you can take to guide their decisions and protect them from a financial perspective. Often, rather than leaving them the money in your will, it can be helpful to put that money into a trust.
A spendthrift trust
One example is a spendthrift trust, which releases the money to the beneficiary over time. They may get a set amount that they can withdraw annually, for example, or they may get access to the funds at a specified age, such as 25 or 30 years old.By spreading the money out, you help ensure that they cannot simply spend their whole inheritance quickly. You also ensure that they get the inheritance at an older age, when you may hope that they will make wise decisions, such as buying a home for their family or starting a business.
A discretionary trust
Another option is simply to pick a trustee who is older and who will make wise decisions that are in the beneficiary's best interests. You can let this person use their discretion, so there are not any strict restrictions on how the money can be spent. But the trustee will make sure that the beneficiary does not waste it or make frivolous purchases.
Setting up a trust
These are just two examples of how you can use a trust to strengthen your estate plan. If you are interested in doing so, it can help to work with an experienced estate planning attorney.
]]>On Behalf of The Law Office of John J. Leonard<![CDATA[Divorced? What happens to frozen embryos?]]>https://www.lojl.com/?p=473052026-07-27T09:57:30Z2026-07-30T09:56:56ZDisputes that can arise over frozen embryos
After divorce, you and your former spouse may disagree about the disposition of frozen embryos. Disputes may involve:
Future use: One person may want to use the embryos while the other objects to becoming a genetic parent.
Storage: You may disagree about continued storage or responsibility for related costs.
Donation: One person may support donating the embryos for research or to another intended parent while the other objects.
Disposal: You may disagree about whether the clinic should discard the embryos.
A court may examine prior agreements and each party's rights concerning embryo disposition when determining who has future control.
The role of your IVF agreement
Fertility clinics often ask intended parents to sign consent forms addressing embryo storage and future use. These documents may become central if you and your former spouse later disagree about the embryos.
Courts have relied on prior written agreements to resolve disputes over frozen embryos. If clinic forms conflict with a separate agreement or contain ambiguous terms, a court may examine the documents to determine which provisions govern.
Identifying the terms that may apply
An embryo dispute can involve documents executed at different stages of IVF. Gathering these records and comparing when each was signed can clarify the terms at issue. This review can identify the points of disagreement and legal questions that may require resolution.]]>On Behalf of The Law Office of John J. Leonard<![CDATA[How is property divided in LGBTQIA+ divorces?]]>https://www.lojl.com/?p=473022026-07-20T10:02:21Z2026-07-23T10:00:32ZFactors that can make property division more complex
Marital property division follows the rule of equitable distribution. That means a judge seeks a fair result based on the facts of the marriage rather than automatically splitting everything in half. The court identifies which property is marital and which property is separate.
Several circumstances often need closer attention during an LGBTQIA+ divorce. These may include:
Marriage timeline: Since same-sex couples could not legally marry nationwide until 2015, you may need to show when certain assets became part of the marital estate.
Years spent living together before marriage: If you bought a home, built savings or combined finances before you could marry, those facts can affect how a court treats certain property.
Older estate planning documents: Wills, trusts and powers of attorney created before marriage may not reflect later legal changes or your shared intentions.
While these issues do not appear in every divorce, they can affect how a court classifies, values and divides marital property.
Marital property allocation may depend on marriage facts
No two divorces involve the same financial picture. The length of the marriage, the date each asset was acquired and the way each spouse used the property often shape the final result.
Each case also involves different records and legal concerns. Understanding how equitable distribution applies to your finances can help you prepare for the process. Legal guidance can also clarify how a court will likely classify property and which facts may carry the most weight.]]>