With so many properties in New York, it’s not surprising that some of them are not up to code. The problem with that is that sellers and buyers may be caught off-guard when a property that they wanted to sell or buy is not up to code and needs repairs. There are all...
If You Can Live In It, We Can Help!
Year: 2021
Does your estate plan address debts as you age?
Estate planning often includes thinking about your golden years carefully. If you have saved for much of your adult life for your retirement, you may have resources set aside to cover your cost of living expenses and no debt. Careful financial planning might mean that...
3 times your family may need to challenge an estate administrator
A person becomes the administrator of an estate in one of two ways. The deceased individual may have named them as their executor long ago when they drafted their estate plan. If they did not, then the probate courts may appoint someone to serve as the representative...
3 ways you can respond to a foreclosure notice
Homeownership instills people with a sense of financial security and pride. The thought of losing your home may make you feel vulnerable or panicky. Unfortunately, you only have to fall behind by a few weeks for your equity to be vulnerable. Depending on the terms of...
Does a New York estate with a house have to go through probate?
Someone's home might represent years of investment. Many people pay as much as a third of their income for their mortgage every month, making their home their biggest overall asset. Many people in New York want to pass their home or other real estate holdings on to...
How can a Chapter 7 bankruptcy help my family?
Chapter 7 bankruptcy is a form of bankruptcy that liquidates nonexempt assets to cover debts. During bankruptcy, any unsecured debts are paid down by liquidating those assets. When the money is gone, debts usually remain. Those debts are then discharged by the court. ...
Why do I need a power of attorney?
What does the future hold? No one can say with any certainty. We can hope for the best and plan for the worst, as they say, but we never really know what will happen. This is why you may want to add a power of attorney to your estate plan. The rest of your plan is...
When will you need to pay estate taxes in New York?
Probate administration is a heavy burden to bear. At the same time that you are grieving the loss of a loved one, you simultaneously have to handle legal and financial matters for them. Locating and distributing their property, as well as handling their business and...
What are 5 common housing code violations?
If you own real estate in New York or are looking into becoming a landlord, it’s a good idea to understand the housing codes and the possible violations that could occur. New York has plenty of regulations, but there are some code violations that come up regularly...
What’s your biggest liability as an estate’s executor?
Estate administration can take months or even more than a year. The more property and debts someone had and the more complicated their financial circumstances were, the longer it can take to settle everything after they die. Spending a lot of your time and mental...