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Minutes of the General Membership Meeting of the Westmoreland Association
Minutes of the March 16, 2009
The meeting was called to order at 8:00 P.M. by President Walter Mugdan. A
motion was made, seconded and unanimously adopted to waive reading of the
minutes. (Mr. Mugdan noted that the minutes were available for review on the
Westmoreland website). Treasurer Gary Savage gave the Treasurers Report
indicating that the balance-on-hand was $15,862.49 as of March 16, 2009. A
motion was made to accept the Treasurers report. The motion was seconded and
the report was unanimously approved.
Little Neck Railroad Station Sen. Frank Padavan sent a copy of the agreement signed by the LIRR and the DOT (Department of Transportation) that will use the funds that were set aside by New York State and the federal government to build the new quad-gates at the railroad crossing in Little Neck. The purpose of the installation is too enable the trains that approach the station from either direction to use a quieter, less disturbing signal to indicate their approach. The cost of the installation will be allocated as follows:
$1.25 m the Federal Government
$0.245 k New York State
$1.494 m Total cost
Councilman Tony Avella sent a letter to all civic leaders in the 19th District. He is encouraging community groups to oppose a proposed revision to the building/zoning rules. The proposed revision would establish a thirty-day period during which community review of building plans and proposed variances could occur. After thirty days, the building department commissioner would make a final determination. There would be a 15-day period for appeal of such a determination to the Board of Standards and Appeals. Councilman Avella argues that this proposal would make it much harder for community groups to oppose undesirable variances.
Annual Elections Nominations for executive and board member positions on the Westmoreland Homeowners Association were made as follows:
President Walter Mugdan
Vice President Sheldon Rosenblum
Treasurer Gary Savage
Secretary Charles Manna
Board members Kathleen Beckett, Thomas Dent, David Diaz, Franklin Lloyd, Peter Reinharz, Robert Timmerman, Philip Toscano
A motion was made and seconded to accept the above nominations.
The vote to accept the motion was unanimous.
Guest Speaker - Michael Conners, LLD made a presentation on laws, rules and regulations concerning elder care and estate planning. At the end of the presentation, he gave attendees a folder of brochures and related information. Extra packets were collected for members who were not able to attend. Contact Charles Manna to get a set.
Some important points that were made by Mr. Conners:
Everyone should have a will. It protects loved ones from the confusion and inconvenience of the estate having to be probated by the courts. If there are no children or spouse, the courts will decide who inherits the estate. Every possible relative will have to be found. A judge will have to be appointed by the courts and the estate will have to pay the costs. It is not in the best interest of the lawyer to settle the will quickly.
The will should establish an executor
A durable power of attorney should be established to make sure that the final wishes of a dying patient are carried out.
Also a durable power of attorney should be on record for the same reason.
Nursing Homes if there is no long-term insurance, the nursing home can collect against the estate and the house.
Wife automatically gets the estate at death. If she re-marries, she should not change the deed, otherwise her children could lose the inheritance of the house should she die first.
The capital gains on the sale of a house is measured by the value at the time of the death of the owner, not the original purchase price.
Trusts can be set up to protect the estate and to reduce tax liability.
Tax Exemption - $1m state tax exemption
Mr. Conners holds regular seminars on estate planning. Call 718-238-6500 to get more information.
The next meeting will held on May 18, 2009.
The meeting was adjourned at 9:00 PM.
Charles Manna, Secretary
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