Twomey Latham donated gifts for the HeadStart children this year. The gifts were donated by members of the Firm, then packaged for delivery to children at their respective schools. In addition to the gifts for the children in HeadStart, the Firm donated money this year to Angels of Long Island/Mastic, CAST NorthFork /Southold (Center for […]

In a major legal development, on December 3, 2024, Judge Amos L. Mazzant III of the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction blocking the enforcement of the Corporate Transparency Act (the “CTA”). This ruling halts the federal requirement that millions of U.S. businesses disclose their beneficial […]

Summary: The IRS has announced that in 2025, the Lifetime Estate and Gift Tax Exemption (the “Lifetime Exemption”) will rise to $13,990,000 (from $13,610,000); the Annual Gift Exclusion will rise to $19,000 (from $18,000) and the Annual Gift Exemption for gifts to non-U.S. citizen spouses will rise to $190,000 (from $185,000). Impact: These increases will […]

The Corporate Transparency Act (the “Act”) requires companies to complete a new form (“BOI Report”) with the Treasury Department’s Finance Crimes Enforcement Network (“FinCEN”), unless certain exemptions apply. Companies that must complete the BOI Report typically include all non-public US companies that have filed with a secretary of state and/or tribal level office to create […]

At a Glance: On July 18, 2024, the IRS issued final regulations regarding required minimum distributions (RMDs) from retirement accounts and proposed regulations that provide additional guidance under the SECURE 2.0 Act. Final Regulations: Beneficiaries generally must continue to take annual distributions if the plan participant died on or after the required beginning date. A […]

***PROPERTY SCAM ALERT*** Local Police Departments are warning real estate agencies, realtors, brokers, attorneys, and property owners about a significant increase in reports of attempted real estate fraud. The typical scenario is that someone claiming to be the legal owner of a piece of property reaches out to a real estate agent/broker to sell the property, […]

Why would a county trademark a slogan? Some have been asking that question since Nassau County filed a trademark application with the U.S. Patent & Trademark Office for “Nassau County: Golden Coast to Coast.” While the application process’ $5,000 price tag has raised some eyebrows, the truth is that Nassau County is following a brand […]

Following are many important reasons to obtain federal registration of your trademark with the U.S. Patent & Trademark Office (“USPTO”) for your business name, logo and/or any brand names that you use in your business. • Registration creates an asset that can be sold or licensed or used as collateral and makes your business more […]

What is a trust? Often time people think that trusts are reserved for the ultra-wealthy only. For many of us the word “trust” makes us think of trust fund kids who have seemingly won the genetic lottery. However, a trust can serve many different purposes and are, therefore, not reserved solely for ne’er-do-well grandsons. A […]

Twomey Latham Senior Partner Christopher Kelley has been working for more than a year with one of our clients to amend the East Hampton Town Code to allow the leveraging of capital of both developers and employers in the Town to create workforce housing for needy workers. I. NEED Clients, 350 Pantigo Road LLC and […]