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...
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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...
What if there aren’t enough assets in an estate to pay off debts?
As an executor, your primary obligation is to resolve all of the outstanding obligations of someone who has recently died. You may need to probate their property, have utility accounts moved into the estate's name and pay taxes on behalf of the deceased. If they have...
How to sell real estate as the executor of a New York estate
Real estate holdings can be worth hundreds of thousands or even millions of dollars, but they can also cause a lot of complications during estate administration. Siblings might fight over who gets to stay in the house or might suddenly realize that they can't qualify...
Supporting your favorite charity in your estate plan
Besides taking care of your family's financial security and keeping control over your future medical care, your estate plan can also help you support causes you believe in as part of your legacy. In New York, charitable planning tools, including a charitable trust,...
Should you opt for a home inspection?
Buying a home is one of the biggest decisions you’ll ever make. It will impact you on many fronts, from your personal finances to the school your children attend to your commute to and from work. With so much on the line, it’s important that you understand exactly...
Protecting your home after a job loss
If you've recently lost your primary source of income because of a job loss, your biggest worry is likely to be how you will be able to keep up with your mortgage repayments in the short term. If you have savings, it's important that you use these carefully so that...
Foreclosure defense: How will you save your home?
Should you receive a notice of foreclosure from your mortgage lender, it’s critical that you take immediate action to protect your property and legal rights. If you simply hope for the best, it won’t be long before you’ve lost your home. On the plus side, there is...
Protecting home equity during New York Chapter 7 bankruptcy
When your debt spirals out of control, many parts of your life may wind up affected by your current state of financial hardship. People often struggle to balance their budget or meet all of their standard living costs, ranging from the need to buy groceries to the...
Why do I need a power of attorney for finances?
When you’re alert, healthy and able to make your own decisions, you won’t have many concerns about your ability to manage your own finances. Conversely, if you’re incapacitated for any reason, such as an injury or illness, you won’t be able to do this. And that’s why...