Elizabeth Forspan, Esq.

Elizabeth Forspan Esq.

Managing Attorney
Location:
New York, New York
Phone:
516- 466-4422 (Great Neck)
212-751-7600 (Manhattan)
718-261-1700 (Queens)
718-621-5300 (Brooklyn)
516-466-7068 (Cedarhurst)
Fax:
516-466-2219
Email:

Email: [email protected]

 

Elizabeth Forspan is the Managing Attorney of Ronald Fatoullah & Associates. Elizabeth’s areas of practice include Estate Planning, Taxation, Elder Care and Medicaid Planning, Guardianships, and Estate Litigation. She regularly assists clients in achieving their Medicaid and Estate Planning goals in a tax efficient manner through practical and considerate planning techniques.

Elizabeth often lectures on various aspects of Elder Care Planning, Tax Law and Estate Planning. Elizabeth has lectured extensively for the New York State Society of Certified Public Accountants (NYSSCPA) and for the American Institute of Certified Public Accountants (AICPA). Elizabeth is also asked to speak regularly for the National Business Institute (NBI). Elizabeth has authored numerous articles and lectured extensively on the topic of Casualty Loss Deductions. Elizabeth co-authored the award-winning cover article for the February 2013 edition of the CPA Journal entitled “Casualty Losses for Property Damaged by Hurricane Sandy.” In June of 2014, she was the recipient of the prestigious Max Block Award for Outstanding Article in the Category of Technical Analysis, awarded by the New York State Society of Certified Public Accountants’ CPA Journal for her article on casualty losses.

Most recently Elizabeth has lectured on topics involving the 2018 Tax Cuts and Jobs Act (TCJA), Post-Mortem Estate Tax Planning and Planning for the “Sandwich Generation.” She is a regular lecturer for the UJA’s annual Sidney Kess Estate, Tax & Financial Planning Conference.  Elizabeth Forspan has been quoted in the New York Times and has been interviewed by MarketWatch. She also appeared on the TV Show “ Hart of New York” which broadcasts on Fios 34 and 44, Spectrum 56, OPT69 and RCN 83 and 84.

Prior to joining the firm, Elizabeth was an associate with a prominent Long Island Trusts and Estates law firm where she specialized in Elder Law, Taxation and Estate Planning. Prior to that, Elizabeth was a Tax Manager with Ernst & Young LLP, where she focused on Mergers & Acquisitions, Executive Compensation, Equity Compensation, Employment Tax and Employee Benefits. Elizabeth has extensive experience working on business transactions and tax based engagements in the financial services, retail and insurance industries on both the buyer and seller sides.

Elizabeth has been nominated to Super Lawyers in 2016, 2017 and 2018 as Rising Star and profiled in the Top Women Attorneys in New York supplement of the New York Times.

Elizabeth earned her Juris Doctor from Fordham University School of Law. Elizabeth received her B.A. from Queens College of the City University of New York, where she graduated summa cum laude and is a member of Phi Beta Kappa.

 

 

Areas of Practice

  • Asset Preservation Planning
  • Estate Planning
  • Taxation
  • Elder Care Planning
  • Medicaid Planning, Guardianships, Estate Litigation

Bar Admissions

  • New York

Education

  • Fordham University School of Law, New York, New York
    • J.D. summa cum laude
  • Queens College of the City University of New York

Published Works

  • “Casualty Losses for Property Damaged by Hurricane Sandy”
  • Elizabeth Forspan, “Clients Benefit from Coordinating Advice – How Estate Planning Attorneys Can Work Effectively With Financial Planners to Serve Clients,” The New York State Bar Association Trusts and Estate Law Section Newsletter, Fall 2018.
  • Sidney Kess, James R. Grimaldi, James A.J. Revels, and Elizabeth Forspan, “Getting Older Without Family: Addressing Personal, Legal, and Financial Concern,” The CPA Journal, July 2018
  • Elizabeth Forspan and Robert S. Barnett, “Casualty Loss Deductions and Other Hurricane-Related Tax Benefits: Updated for Hurricanes Harvey and Irma,” The CPA Journal, September 2017.
  • Elizabeth Forspan, Sidney Kess, Ronald A. Fatoullah, and Jeffrey Gorak, “The Critical Importance of a Power of Attorney for Incapacitated Individuals,” The CPA Journal, May 2017.
  • Sidney Kess, James R. Grimaldi, James A.J. Revels, and Elizabeth Forspan, “Legal, Tax, and Financial Issues for Helping Parents,” The CPA Journal, February 2017.
  • Ronald A. Fatoullah, Elizabeth Forspan, “Deductibility of Long Term Care Insurance and the 2017 Limitations,” Queens Courier, November 17, 2016.
  • Ronald A. Fatoullah, Elizabeth Forspan, “The Sandoval Decision: Needed Relief for Medicaid Applicants who have Transferred Assets,” Nassau Lawyer – The Journal of the Nassau County Bar Association, March 2016.
  • Ronald A. Fatoullah, Elizabeth Forspan, “The Top Ten Questions About Medicaid Planning in New York,” The CPA Journal, September, 2015.
  • Ronald A. Fatoullah, Elizabeth Forspan, “Tax Issues to Consider in Elder Care Planning”, The CPA Journal, March, 2015.
  • Elizabeth Forspan, Sarah C. Moskowitz, "NYC HRA Has Gotten It Wrong: Medicaid's Misapplication of the Spousal Impoverishment Rules in Spousal Refusal Cases." New York State Bar Association Elder and Special Needs Law Journal, Spring 2014.
  • Robert Barnett, Elizabeth Forspan, "Avoiding the squeeze: Trusts, estates, and the new ATRA tax regime."Journal of Accountancy, April 2014
  • Sidney Kess with Elizabeth Forspan, "Net Investment Income Tax for Trusts and Estates." New York Law Journal, March 17, 2014.
  • Stuart H. Schoenfeld, Elizabeth Forspan, "Using Trusts to Create an Effective Elder Care Plan." The Nassau Lawyer, February 2014.
  • Robert Barnett, Elizabeth Forspan, "Casualty Loses for Property Damaged by Hurricane Sandy: Maximizing Tax Benefits." The CPA Journal, February 2013 (Cover).

Classes/Seminars

  • Suffolk County Bar Association, Lecturer
  • “Postmortem Estate Planning,” New York State Society of Certified Public Accountants - Trust and Estate Taxation Conference at Bernstein Private Wealth Management, December 2018.
  • “Using Trusts to Qualify for Medicaid,” National Business Institute – Using Trusts in Estate Planning and Asset Protection Seminar, December 2018.
  • “Elder Care Planning: The New Tax Law and the 'Sandwich Generation,” American Institute of Certified Public Accountants - Sophisticated Tax Planning for Your Wealthy Clients, November 2018.
  • “The Impact of the Tax Cuts and Jobs Act on the Elderly & A Rundown on Elder Law,” Baruch College Zicklin School of Business – Executive Taxation Series, November 2018.
  • “Medicaid Crisis Planning,” New York State Bar Association – Intermediate Elder Law, November 2018.
  • “Creative Writing and Drafting to Address Social Change,” New York State Bar Association – Elder Law & Special Needs Section Meeting, October 2018.
  • “The Sandwich Generation: Taking Care of Your Folks, Your Kids and Yourself,” UJA-Federation 49th Annual Sidney Kess New York Estate, Tax & Financial Planning Conference, October 2018.
  • “Planning for Your Client’s Incapacity: Don’t Get Caught in the Trap!” Baruch College/New York State Society of CPAs – The CPA As Financial Planner, January 2017.
  • “Elder Law: Updates and Forecasts,” Baruch College Executive Taxation Series: The Evolution of Tax Practice, October 2016.
  • “Household Employment: The Tax and Legal Considerations,” UJA’s 47th Annual Sidney Kess New York Estate, Tax and Financial Planning Conference, September 2016.
  • “Tax Aspects of Medicaid Planning,” National Business Institute, September 2016.
  • “Elder Law Update,” Senior Umbrella Network of Brooklyn, September 2016.
  • “Key Elder Care Planning Issues: 2016 Edition,” First American Title Insurance Company of America – Continuing Legal Education, September 2016.
  • “Income Taxation of Trusts and Estates,” National Business Institute, June 2016.
  • “Key Elder Care Planning Issues in 2016,” New York State Society of CPAs’ Estate Planning Conference, May 2016.
  • “Financial Planning Guide to an Effective Elder Care Plan,” St. John’s University School of Law – Continuing Legal Education, July 2015
  • “Elder Care Planning: Where the Attorney and CPA Can Work Together,” Nassau County Bar Association, October 2015.
  • “Documenting Long Term Care, Incapacity and End-of-Life Decisions,” National Business Institute, December 2015.
  • “Post-Mortem Trust Administration,” National Business Institute, August 2015.
  • "Changes to Estate and Trust Taxation Under the American Taxpayer Relief Act of 2012," Suffolk Academy of Law, Suffolk County Bar Association, March 2014.
  • "Estate and Elder Care Planning," New York State Society of CPAs 61st Annual Nassau Chapter All-Day Taxation Conference, December 2013.
  • "Elder Care Advocacy and the Medicaid Planning Process," National Conference of CPA Practitioners, Long Island Tax Professionals Symposium, November 2013.
  • "Medicaid Update 2013," New York State Society of CPAs, Staten Island Chapter, November 2013.
  • "The Use of Trusts and Gifts in Elder Planning," Suffolk County Bar Association, Suffolk Academy of Law, Suffolk County Bar Association, March 2013.
  • Superstorm Sandy Update - "Casualty Loses for Personal Property Damaged by Superstorm Sandy," New York State Society of CPAs, Nassau and Suffolk Chapters, February 2013.
  • "The Use of Trusts and Gifts in Elder Planning," New York State Society of CPAs, Staten Island Chapter, November 2012.
  • "Medicaid Planning Techniques," National Conference of CPA Practitioners, Nassau and Suffolk Chapter, September 2012.

Honors and Awards

  • Max Block Award for Outstanding Article in the Category of Technical Analysis, New York State Society of Certified Public Accountants
  • Super Lawyers Rising Star 2016-2018

Past Employment Positions

  • Ernst & Young LLP, Tax Manager

Fraternities/Sororities

  • Phi Beta Kappa