Karol & Sosnik

Main Office:
521 RXR Plaza, East Tower, Suite 521
Uniondale, NY 11556
Tel: (516) 745-0066

8212 Third Avenue
Brooklyn, NY 11209
Tel: (718) 539-9260

Toll Free: (866) 547-ATTY
Fax: (516) 222-1499
Email: ks@kspcwills.com

Karol & Sosnik PA:
Naples, FL
Boynton Beach, Florida
Clearwater Beach, Florida

Practice Areas

Estate and Trust Planning

Estate and Trust Planning involves planning for the accumulation, management and disposition of your wealth in accordance with your wishes. A thorough estate plan will address numerous issues, including, but not limited to, the following:

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Estate Administration

Estate Administration involves the collection, management and distribution of a deceased individual's assets. When an individual dies, certain assets of the decedent may be transferred by agreement or operation of law (e.g., joint and survivorship property, payable on death accounts, transfer on death property, and most life insurance and retirement benefits). These are commonly referred to as non-probate assets. Other assets (such as assets held in an individual's sole name) must be transferred through court proceedings. These assets are known as probate assets and in New York such proceedings occur in Surrogates Court in the county of the decedent's legal residence. If someone dies with a Last Will and Testament the court proceeding is known as a probate proceeding. If someone dies without having executed a Last Will and Testament the court proceeding is known as an administration proceeding. Most persons die owning both probate and non-probate assets, all of which generally require some type of documentation to complete the transfer out of the name of the decedent.

Our firm assists clients in the estate administration process in many different ways. We prepare the necessary Surrogate's Court paperwork, we complete the paperwork necessary to collect the decedent's assets and pay his outstanding bills and we help distribute the remaining assets to the beneficiaries entitled to same. Depending on the decedent's wealth, we may provide tax counsel or prepare estate tax returns. Regardless of the situation, our attorneys can, and will, address any estate administration matter in a timely, professional and compassionate manner.

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Asset Protection

Asset Protection refers to planning techniques utilized to lawfully protect an individual's own assets, or the expected receipt of inherited assets, from potential claims of creditors. The techniques are designed to avoid claims of creditors by deterring them from seeking financial relief from you. If creditors do attempt to collect, the planning techniques are designed to make it difficult, if not impossible, for a creditor to collect a judgment against you.

Shifting assets among family members, establishing asset protection trusts and\or partnerships are just some of the concepts our asset protection attorneys may discuss with you.

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Elder Law & Guardianship

Elder Law & Guardianship involves helping clients with long-term health care needs.

Our Elder Law attorneys assist clients in obtaining government benefits (Medicaid) to help pay for the cost of obtaining long-term health care (either home care or institutional care). While it is always best to pro-actively plan for such needs with our attorneys, the firm can also assist families in crisis when the unexpected occurs.

In New York, an individual who believes someone else is unable to care for his or her own person or property may petition the Court to have a guardian appointed for the person alleged to be in need. Our Guardianship attorneys can represent both those alleged to be in need of a guardian and those seeking to have a guardian appointed for another.

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Estate Litigation

Estate Litigation involves the retention of legal advisors to help resolve an estate controversy. Upon the death of an individual, an unlimited number of disputes may arise. Our attorneys are available to assist clients to help resolve any such controversy, including, but not limited to:

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Business Succession Planning

Business Succession Planning involves developing a plan for the continuation of one's own business interests upon the occurrence of certain events (e.g., disability or death). Owners of closely held businesses spend most of their time securing the current success of their business. There are many issues that they face each day in connection with the day-to-day operation of their business. However, an integral, but often overlooked, issue is preparing for the future viability of the business through agreement(s) which deal with the ownership, management and continuity of their business. Our attorneys will help the business owner recognize their own planning needs and implement the documents necessary to accomplish their objectives.

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Business & Corporate Law

Business & Corporate Law is a general term for a diverse group of legal services provided to our clients. This firm offers guidance for a myriad of business-related issues including the negotiation and preparation of:

We can also assist those clients looking to sell or buy a business. We work closely with our clients and their accountants to determine whether the purchase and sale of assets or stock is most appropriate for them and the consequences of structuring the transaction as a stock sale or asset purchase. For clients looking to start a business we can suggest the best choice of business entity and help with the formation of same. We can also help those clients looking to terminate their business arrangement. If controversies arise, we are able to provide legal services to help resolve them, with or without the need for judicial intervention.

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Tax Planning

Tax Planning involves providing solutions to your tax-related needs. If you are looking to minimize income, estate or gift taxes we can provide the tools to help you reach your objectives. If you need to address a current tax controversy (e.g., an estate or gift tax audit) we can help.

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Real Estate Law

Real Estate Law involves representing clients in connection with their real estate matters. Our attorneys can assist you whether you are buying or selling residential or commercial real estate. We also represent clients who are re-financing their properties. For those concerned with taxes, our attorneys can guide you through a §1031 like-kind exchange. Moreover, if you find yourself in a dispute over title or possession to real estate, we are able to help.

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