“NEW YORK JUST CAN’T SEEM TO LET YOU GO”

“NEW YORK JUST CAN’T SEEM TO LET YOU GO”

snow bird

By: Jeffrey M. Fetter


Some New York snowbirds change their residency to Florida for many reasons, including the fact that Florida does not have an estate or an income tax imposed on its residents. But, New York just does not like to lose its residents go putting the snowbird through an exhaustive exercise of changing everything about their lives to ensure they are truly no longer New York residents (voting registration, vehicle registrations, club memberships, being outside New York for at least 183 days per year, etc., etc.).


One of the “strategies” that former New Yorkers would utilize to ensure that they still had a physical place to return to when they were in New York after they changed their residences was to create an LLC that would own their former principal residence. New York cannot impose an estate tax on a nonresident’s “intangible property”, only “tangible property” like Commercial Real Estate owned by the non-resident in the Empire State. But, an LLC is certainly not tangible property; it’s ownership in a business, like stock. Right? Maybe not.


In Advisory Opinion TSB-A-15(1)M, the Department of Taxation concluded that a Single Member Limited Liability Company ( “SMLLC”) that owned real property, although completely disregarded for state and federal income taxes, is not treated as “Intangible Property” for purposes of the estate tax and as a result, the Commercial Real Estate is treated as being owned by the owner or the SMLLC and is subject to New York’s Estate Taxes. However, if the LLC is taxed as a corporation or as a multi-member LLC (i.e. a partnership), it is not treated in the same manner. Although advisory opinions are binding only on the taxpayer requesting the opinion, this careful planning is required.

New York just hates to lose you. Sometimes it’s nice to be wanted – other times, not so nice.


For more information, please feel free to contact me.

Office building with large glass windows, trees, and blue sky.

Costello, Cooney & Fearon and Scolaro Fetter Grizanti & McGough Unite to Form Costello Cooney Fearon & Fetter

By proadAccountId-1002189 • October 14, 2025
SYRACUSE, NY (October 8, 2025) – Two leading law firms in Central New York, Costello, Cooney & Fearon and Scolaro Fetter Grizanti & McGough, are pleased to announce their combination, effective Jan. 1, 2026. Costello Cooney Fearon & Fetter will build upon a combined 175 years of legal tradition in Syracuse while establishing a stronger foundation to serve clients across the region and beyond. This combination represents more than the joining of two firms; it marks the uniting of two longstanding legal legacies deeply rooted in the Central New York Community. From advising local businesses and municipalities to guiding families through generations of change, both firms share a common history of helping the region grow and thrive. “Bringing our firms together unites the collective strength of two highly successful practices with a shared vision for delivering the highest quality client service. This combination will allow us to offer a broader range of legal services to meet the evolving needs of our present and future clients.” – Jeffrey M. Fetter, Chief Executive Officer of Scolaro Fetter Grizanti & McGough With over 45 attorneys practicing throughout New York State, the firm will offer expanded strength in litigation, business and tax law, mergers and acquisitions, estate and trust planning and administration, municipal and education law, real estate, family law, healthcare, agricultural law, and more. “This is an important and exciting moment for both of our firms. Combining with Scolaro Fetter Grizanti & McGough strengthens the services we can provide to our clients and creates new opportunities for our attorneys and staff. Having been with Costello, Cooney & Fearon for more than 35 years, I see this as one of the most meaningful steps we’ve taken to ensure the continuity of the quality and depth of our practice and a vibrant future for decades to come. We have long respected the work of Scolaro Fetter Grizanti & McGough, and now we look forward to growing together as one firm.” – John R. Langey, Chief Executive Officer of Costello, Cooney & Fearon A Shared Legacy, A Stronger Future Costello, Cooney & Fearon has been part of the Syracuse legal landscape since 1896, known for its innovative, collaborative approach and broad range of practice areas. Founded in 1979, Scolaro Fetter Grizanti & McGough has built a respected reputation, spanning several states, for its sophisticated work in business, tax, and estate planning. Together as Costello Cooney Fearon & Fetter, the firm will continue to serve as a proud partner in the Central New York Community, offering the full-service capabilities of a large firm while maintaining the personalized attention and client relationships that have long defined both organizations. Clients can expect a seamless transition, continuing to work with the attorneys they know and trust – now backed by a deeper bench of talent and experience. Additional details about the firm’s combined operations will be shared in the coming weeks. About Costello Cooney Fearon & Fetter Costello Cooney Fearon & Fetter will be a full-service law firm with offices in Syracuse, Albany, and Cazenovia, N.Y. and Stuart, Fla. With deep roots in Central New York and serving clients throughout several states, the firm will provide forward thinking legal counsel to businesses, municipalities, educational institutions, and individuals, while remaining committed to the communities it has proudly served for generations.

CLIENT ALERT: Protect Your Property from Deed Fraud in Florida

August 21, 2025
Stewart M. McGough, Esq. Deed fraud is increasing rapidly in Florida. Criminals have been forging property deeds to unlawfully transfer ownership and sell properties without the real owner's knowledge. Any property owner may be affected, including homeowners, and the legal costs to reverse this type of fraud can be substantial. To help combat this risk, Florida law now requires each county Clerk of Court to provide a Property Alert Service . This free service notifies you when a document such as a deed is filed under your name or your property's legal description. Steps You Should Take Register for Property Alerts Visit the official Florida Court Clerks website: https://www.flclerks.com/page/PropertyAlertServices Choose Your County (or Counties) Click the link for each county where you own property. Complete the online registration with your name and property information. Watch for Notifications If someone files a deed involving your property, you will receive an alert by email, text, or phone depending on the county. If the filing is legitimate, no action is needed. If it appears fraudulent, contact the Clerk immediately and consult an attorney to prevent the deed from being recorded. Why This Matters Deed fraud can occur silently and without warning. Registering for alerts gives you immediate notice so you can respond before the fraud is finalized and your property is illegally transferred.  Please take a few minutes to register today. This simple step can protect your property and avoid major legal complications.