The purpose of this Memorandum is to provide an overview of the rules governing 529 Education Savings Plans, also known as “Qualified Tuition Plans.” Governed by §529 of the Internal Revenue Code (the “Code”), a 529 savings plan allows a person to establish an investment account (a “529 Account”) for each of an unlimited number of beneficiaries to provide for his or her future qualified higher education…
Competition and free trade are the hallmarks of capitalism. While that may be the case, when it comes to the world of residential real estate, U.S. Department of Justice does not see eye to eye. As reported this week in The Wall Street Journal, the National Association of Realtors (NAR) - the real estate industry’s largest trade group[1] - agreed to make the cost of…
In early 2020, the economy was on a steady climb and real estate was humming along. Then came COVID-19. As society adapts to the new norm, so too must the real estate and commercial lending markets. While we all await a vaccine rescue, innovators in the real estate market are developing new ways to mitigate risks and financial exposure, while maintaining balance sheets, tenant rosters,…
This article was posted with the Nassau County Bar Association’s permission. See pages 16 & 21. It was published in the December 2020 Nassau Lawyer, Vol. 70, No. 4.
Forchelli Deegan Terrana LLP (“FDT”) is pleased to announce that, in addition to the Jeffrey D. Forchelli Endowed Scholarship, awarded to an entering student who is civic-minded and has demonstrated an obligation to the larger community, the firm has established the Forchelli Deegan Terrana LLP Annual Scholarship, awarded to an entering law student on the basis of demonstrated academic achievement. Mr. Forchelli and FDT warmly…
Forchelli Deegan Terrana LLP warmly congratulates our partner and friend, Daniel P. Deegan, on being selected as a Long Island Business News “2020 Long Island Business Hall of Fame” inductee. LIBN convenes a panel of powerhouse members of our business community, including past Hall of Famers, to create the annual list of inductees. Applications are not accepted. Inductees are vetted based on their influence within…
Forchelli Deegan Terrana LLP (“FDT”) is pleased to announce that the firm has a combined total of 34 attorneys selected to the 2020 New York Metro Super Lawyers and New York Metro Rising Stars lists. FDT congratulates the following nineteen attorneys for being selected to the 2020 New York Metro Super Lawyers list: Joseph P. Asselta (Construction Litigation); William F. Bonesso (Land Use & Zoning);…
Forchelli Deegan Terrana LLP warmly congratulates Michael A. Berger, an attorney in the firm’s Employment & Labor practice group, on recently being virtually installed as Treasurer of The Theodore Roosevelt American Inn of Court. Litigation attorneys Russell G. Tisman and Michael A. Ciaffa will continue to serve as Directors on the Executive Committee. These are one-year terms. The Inn is an organization of judges and…
Forchelli Deegan Terrana LLP (“FDT”), a premier full-service law firm, acclaimed for its impeccable client service and quality representation, proudly announces the following management reorganization effective immediately: Jeffrey D. Forchelli, Chairman of the Firm and Co-Managing Partner John V. Terrana, Co-Managing Partner Judy L. Simoncic, Deputy Managing Partner Mr. Forchelli founded the firm in 1976 and has served as Managing Partner since its inception. He…
This article, written by Forchelli Deegan Terrana LLP attorneys Aaron Gershonowitz and Brian W. Kennedy, was published in the Fall 2020 Real Estate Finance Journal. Click here to read full-text. Reprinted with permission from The Real Estate Finance Journal.