Alison Schrag

Alison Schrag is a law partner at a firm where she focuses her practice on trusts and estates planning and administration. She has extensive experience addressing trust and estate litigation matters, including contested accounting proceedings and other related issues. The firm operates from offices in New York and New Jersey, offering services across a range of areas, including estate planning and administration, as well as art, media and entertainment law, corporate law, internal investigations, real estate, banking, and financial services, broker‑dealer litigation and arbitration, intellectual property and technology, litigation, and taxation.

Two Decades of Experience

She is admitted to practice in both New York and New Jersey, with nearly twenty years of experience. She began her career as a litigation associate at a firm where she represented financial institutions and corporate trustees in both commercial disputes and breach of fiduciary duty proceedings. At that firm, the practice areas included bankruptcy, business finance, litigation, corporate securities, real estate, trusts and estates, and equipment leasing. Before joining her current firm, she was a partner at a boutique firm in New York City that focused exclusively on trusts and estates.

Alison Schrag’s Role at Sherman Atlas

Alison Schrag of New York works closely with individuals and families to help them create and implement estate plans tailored to their specific priorities and needs. She guides clients in areas such as wealth transfer planning, trusts, and estate administration. Her focus is on ensuring the planning process reduces taxes, allows for an orderly distribution of assets, takes into account the possibility of incapacity, and minimizes the risk of future disagreements.

Estate planning is a crucial step in creating a lasting legacy that extends beyond one’s lifetime. She takes the time to listen to those she works with, using her knowledge and experience to help them make informed decisions about their estate plan. By doing so, she ensures that their wishes, priorities, and financial circumstances are accurately reflected in every document.

Many of the people she serves have complex estate planning needs. These needs can range from family business succession planning and cross‑border estate planning to making special gifting arrangements and addressing other intricate details. The clients she works with often include first‑generation entrepreneurs, owners of closely held or mid‑sized businesses, and those pursuing sophisticated charitable or philanthropic objectives.

She understands the value of creating an estate plan that not only reflects the priorities of those she serves but also takes advantage of opportunities to reduce federal and state estate taxes, gift taxes, and income taxes.

Representing Clients in Judiciary Proceedings

She has extensive experience in the area of Surrogate Court practice and procedure, representing clients in proceedings that encompass a wide range of issues. These proceedings include probate, estate administration, contested accountings, and kinship determinations.

Throughout her career, she has represented individual executors, trustees, personal representatives, and beneficiaries in New York Surrogate’s Court proceedings. In addition, she has worked closely with clients seeking to establish their right to inherit from an estate, presenting genealogical evidence and witness testimony to prove family connections.

If contested claims arise, she advocates on behalf of those she serves, making sure their interests are protected and that they have the best chance of obtaining their rightful share of an estate.

With deep knowledge of the Surrogate’s Court rules and requirements, combined with a calm and measured approach, she guides clients through proceedings that can often be emotional and challenging. Her focus is on ensuring that those she works with have clarity and sound legal judgment at every step.

A Trusted Voice in Estate Planning

She is frequently invited to deliver presentations for wealth advisory firms and their clients, focusing on topics such as estate planning, tax planning, and estate administration. In these presentations, she provides practical guidance on a range of key areas, including the preparation of wills, trusts, powers of attorney, and medical advance directives.

She also explains the differences between revocable and irrevocable trusts, beneficiary designations, and the role these tools play in an estate plan. She covers topics such as federal and state estate tax implications, advanced planning strategies for high‑net‑worth families, and succession planning for family businesses, including buy‑sell agreements and valuation considerations.

Additional topics she frequently discusses include fiduciary duties and responsibilities, legislative and regulatory changes affecting estate planning, and strategies for families and businesses to implement effective long-term planning.

Through these presentations, she aims to help clients and their advisors understand the complexities of estate planning and administration, making sure they have the knowledge and tools needed to build and protect their legacy.

Education

She earned a BA from a university, graduating with honors, and received a JD from a law school located in New York. While attending law school, she served as an editor of the institution’s Law Review and participated in its Moot Court Honor Society.

Charitable Contributions

Throughout her life, she has remained dedicated to supporting charitable causes and making a difference in her community. In the past, she served as a rape crisis counselor at hospitals located in New York. Today, she volunteers at local food pantries and coat drives throughout New York City, offering help and support to those in need.

Personal Life

Alison Schrag lives in New York City with her husband and two sons. In her free time, she finds joy in traveling, hiking, running, and volunteering. She strives to balance a professional life dedicated to serving her clients with a personal life that focuses on supporting her family and making a difference in the lives of others.

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