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Alison Schrag

Law Partner at Sherman Atlas Sylvester & Stamelman LLP

Alison Schrag is a law partner at a firm where she focuses on trusts and estates planning and administration. She has extensive experience advising clients on trust and estate litigation, including contested accounting proceedings and other related matters. The firm operates out of New York and New Jersey, covering a wide range of practice areas. These areas include 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 tax law.

Two Decades of Experience

She is admitted to practice in New York and New Jersey and has nearly twenty years of experience in the legal field. She began her career as a litigation associate at a firm that 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 another practice in New York City that specialized exclusively in trusts and estates.

Alison Schrag’s Role at Sherman Atlas

Alison Schrag of New York works closely with her clients to help them create effective and tailored estate plans, guiding them through the trust and estate administration process. She works with individuals and families to design and implement estate plans that can reduce taxes, facilitate the orderly distribution of assets, consider the possibility of incapacity, and mitigate the risk of future disagreements.

Estate planning is a crucial way for individuals to create a lasting legacy that extends beyond their lifetime. She makes it a priority to listen to her clients and understand their priorities. By doing so, she can help them make well‑informed decisions about creating an estate plan that suits their needs, wishes, and financial circumstances.

Many of the people she works with have complex estate planning needs. These needs can range from family business succession planning and cross‑border planning considerations to special gifting arrangements and other nuanced questions. The clients she advises often include first-generation entrepreneurs, owners of closely held or mid-market businesses, and individuals pursuing sophisticated charitable or philanthropic objectives.

She understands the importance of designing estate plans that reflect her clients’ priorities while utilizing available methods to minimize federal and state estate taxes, gift taxes, and income taxes.

Representing Clients in Judiciary Proceedings

She has extensive experience representing clients in proceedings within the Surrogate’s Court. These proceedings encompass a range of matters, including probate and 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. She has also worked with clients to prove their legal right to inherit from an estate by providing genealogical evidence and witness testimony.

If contested claims arise, she advocates diligently for the people she represents, making sure their interests are protected and that they have the best chance of obtaining their rightful share of an estate.

With a deep understanding of the rules and requirements of the Surrogate’s Court, combined with a calm and focused approach, she guides clients through complex and emotionally charged proceedings. This approach enables her to assist those she serves in making informed decisions and maintaining a clear understanding of their options.

A Trusted Voice in Estate Planning

She is frequently invited to deliver presentations on estate planning and related tax and administrative issues to wealth advisory firms and their clients. These presentations cover a range of vital topics, including core estate planning tools such as wills, trusts, powers of attorney, and medical advance directives.

She explains the differences between revocable and irrevocable trusts, beneficiary designations, and the effects of federal and state estate taxes. Additionally, she covers advanced planning topics that cater to the needs of high-net-worth families and entrepreneurs. These topics often include succession planning for family businesses, buy‑sell agreements, and the valuation and preservation of family‑owned enterprises.

Additional areas she addresses include the fiduciary duties and responsibilities of those serving in trust or estate roles, recent changes in legislation and regulations, and practical guidance for ensuring a client’s estate planning decisions remain aligned with their overall priorities and objectives.

Education

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

Charitable Contributions

Throughout her life and career, she has consistently demonstrated a commitment to making a positive impact in her community. In the past, she served as a rape crisis counselor at hospitals located in New York. Today, she gives her time and effort to local charities, including volunteering at food pantries and participating in coat drives throughout New York City.

Personal Life

Alison Schrag lives in New York City with her husband and two sons. In her free time, she finds balance by traveling, hiking, running, and continuing her volunteer work. She strives to maintain a strong connection between her professional life and her interests, making time for both and focusing on supporting the people and causes that matter to her.

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