As the global economy continues to feel the disruptive effects of the COVID-19 crisis, now may be an appropriate time to consider potential estate planning opportunities: Low Interest Rates: The IRS prescribes minimum interest rates that taxpayers must charge on most loans (including installment sales) to avoid gift tax consequences. These IRS rates are now…
DOROTHY J. CANNETTI
SENIOR COUNSEL
Dorothy J. Cannetti handles all aspects of estate and tax planning, estate and trust administration, and litigation matters in Surrogate’s Court.
Practices
About
In Dorothy’s planning practice, she helps individuals and families establish and implement their wealth-transfer plans to carry out their intentions, but also avoid adverse tax and legal consequences. Dorothy has spent nearly a decade in this space dealing with the more intricate and technical issues necessary to carry out particularly complex plans.
For estate and trust administration matters, Dorothy handles the required Surrogate’s Court proceedings and advises fiduciaries regarding estate, gift, generation-skipping transfer, and income tax issues. She also supervises the day-to-day administration of estates and trusts and oversees the preparation of estate, gift, and income tax returns and various other types of required filings.
As a part of her Surrogate’s Court litigation practice, Dorothy assists in the representation of fiduciaries and beneficiaries. Dorothy has participated in various types of proceedings including will contests, contested judicial accountings, and miscellaneous proceedings. Although contested matters are inherently acrimonious, her goal is to achieve the desired outcome for the client as efficiently as possible.
Education
New York Law School (J.D., magna cum laude, 2007)
New York Law School Law Review
University at Albany, State University of New York (B.S., summa cum laude, 2004)
Bar Admissions
2008, New York
Insights
Current Estate and Gift Tax Planning Opportunities
July 8, 2020Client AlertsSECURE, CARES and Retirement Account Distributions in 2020
June 26, 2020Client AlertsBoth the SECURE Act enacted in December 2019 and the CARES Act enacted in March 2020 changed the rules governing distributions from retirement plans and IRAs. Under the SECURE Act, retirement plan participants and IRA owners no longer have to begin taking distributions until April 1 of the calendar year after they reach age 72…
SECURE Act Changes Key Retirement Plan and IRA Rules Alerts
December 30, 2019Client AlertsRetirement benefits (such as pension, profit-sharing, 401(k) or IRA benefits) make up a substantial portion of many people’s assets. Congress recently passed, and the President signed on December 20, 2019, the Setting Every Community Up for Retirement Act (the SECURE Act) as part of the Further Consolidated Appropriations Act, 2020. The SECURE Act made various…