Serving as executor is a demanding job, but it comes with certain benefits. You know that there will be adequate care taken while handling the estate of the deceased party. You can receive compensation from the estate for the services that you provide. Still, someone...
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Firm News
3 title issues that could delay or cancel a real estate transaction
The state maintains property ownership records at the county level to protect individual owners and hold people accountable for maintenance and tax purposes. The records maintained by the county show the legal description of a specific property and the chain of title...
Code violations could impact the sale of your property
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...
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 things New York tenants should know about security deposits
Although owning a home is the American dream, in high-cost markets like New York, it simply isn't always realistic. Being a long-term renter gives you the opportunity to stay close to where you work and have the flexibility to move with minimal complications if an...
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...