//April

It’s About Timing: Protecting Your Assets Well Before a Lawsuit

Frequently, when someone learns they're being sued, their first instinct is to protect their assets — their home, car, jewelry, or their business, the building, office equipment, and company vehicles. Whether it's a civil litigation, bankruptcy proceedings, or even a divorce, there's a very real possibility of losing everything to creditors or in a civil judgment. The easiest solution is to have separate holding companies that hold your assets with specific assets being grouped together based upon common business themes. For example, if you had your own business, you would have a separate holding company that owned your building, or the equipment, or the vehicles, or the office furniture, and so on. You would then rent and/or lease all those items from the holding company to the company that is performing the work. For example, a Real Estate holding company holds the property, then leases the property to another [...]

By |2019-09-04T05:32:26-05:00April 28th, 2017|

What is Pre-Divorce Planning? How Do I Know if My Spouse is Doing This?

Tom and Marie have been married for 14 years, but the marriage is on the rocks and divorce is imminent. Worse, Marie worries that Tom is trying to hide some of the family's assets from her. She has noticed things are different. Such as, they have less money at the end of each month, Tom's salary from his business is lower, his taxes are higher, and they're paying a lot more for all of their utilities. She has also been seeing mail from a couple of banks and investment firms she's not familiar with. Pre-divorce Planning Many divorces result in couples dividing the marital assets equally, so it's not uncommon for one spouse to try to hide a significant portion of their money to exclude it from the property division. Some will even do it so they can inflict emotional pain as well. This means the one spouse can [...]

By |2018-12-07T20:44:54-05:00April 25th, 2017|

Yonatan Levoritz Published in New York Law Journal

Attorney Yonatan Levoritz recently had an article on tax fraud published in the New York Law Journal. The article has been redistributed below. Click here to see it in the original publication. Client tax fraud is a problem, and one more common than many attorneys realize. The duty to report fraud to the court is incumbent upon the attorney. Most judges prefer not to take on fraud issues, leaving it to the attorneys to sort them out with the parties so that clients come before the bench with "clean hands" as required under NYCRR §130-1.01a(b).1 In A.S. v. K.S.,2 in which I represented the plaintiff for a brief time, Brooklyn Supreme Court Justice Jeffrey Sunshine took the admirable step of addressing the issue of "clean hands," a welcome development as the issue needs more discussion and guidelines should be developed to avoid fraud being perpetrated upon the court. This [...]

By |2018-12-07T20:45:03-05:00April 24th, 2017|

Considering Bankruptcy? Here’s What Not to Do

Financial hardship can hit anyone, and like most mishaps, it strikes at the worst time. You get laid off after you buy a new house. You become too disabled to work, and the credit card bills start piling up. There are other ways that debt can overwhelm you, but it doesn’t have to ruin your financial future or your health. You can start over by filing bankruptcy in New York. When you file for personal bankruptcy, you benefit from an automatic stay. Creditor and debt collector calls stop. So do wage garnishments and collection lawsuits. You get some breathing room and the chance to not only rebuild, but do better than ever. Bankruptcy can provide you with a fresh start- provided you don’t sour the opportunity by making serious mistakes. Below are five of the most common missteps made by those who plan to file, and why you should [...]

By |2018-12-07T20:45:11-05:00April 20th, 2017|

6 Detrimental Mistakes That Could Sabotage Your New York Child Custody Case

All things being equal, both parents have joint custody rights to their children. Custody laws are also supposed to be gender neutral, meaning that Dad has as much of a right to raise the kids as Mom. But judges are human, and some may subscribe to the old preconception that younger children, in particular, are better off being raised by their mother. Others may assume that if Mom is not acting as a primary caretaker, she’s not suited to remain in that role. And still, others will assume you’re a questionable parent if you make other mistakes, five of which we cover below. Losing Your Cool with Your Spouse Yelling implies aggression and loss of control, which is especially detrimental for men, as the presumption still exists that men are more dominating and formidable than women. If you are a dad seeking custody and make the mistake of yelling [...]

By |2019-09-18T23:18:28-05:00April 10th, 2017|

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