You understand the need for title insurance to ensure that no liens, encumbrances or mistakes create issues with the title to the commercial real estate you want to purchase. However, R Street notes that it is common for residential and commercial real estate buyers...
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Year: 2020
How can gifting benefit you and your family?
Throughout the year and particularly at the end of the year, many wealthy households choose to write checks for friends and family members. Often, these gifts may be around $15,000 dollars per person. Gifting can be a crucial tool in estate planning, and it is easily...
Powers of attorney provide comfort in a family crisis
No one knows when incapacity may strike. You could suffer a stroke or sustain a serious injury in a vehicle crash. Who will step in to manage your affairs? If you have powers of attorney for healthcare and finances, your trusted appointees will provide capable...
Residency and estate tax returns
Whether your loved one recently passed away and you are unsure of how to approach tax matters or you are worried about the tax consequences of your own estate plan, you should have a clear understanding of relevant tax matters. From time requirements to tax rates,...
What should you do if a tenant refuses to pay rent?
You hoped for favorable outcomes when you became a landlord in New York, but a recent issue forced you to question your decision. You have a tenant going through a rough financial patch, leaving the person unable to pay rent. What should you do? Learn how to navigate...
3 Reasons you should have an estate plan
There are countless reasons people believe they don’t need to have an estate plan. Most commonly, they convince themselves that they are too young, too healthy, or not wealthy enough to warrant having end-of-life plans in place. On the contrary, few people wouldn’t...
Who is liable for home repairs after a closing?
Moving into a new house can be exciting. But if owners find substantial damages after the closing, it can turn the age-old American dream into a nightmare. That’s especially true if the seller doesn’t disclose any critical information during the purchasing process. If...
Real estate transactions may mean estate planning changes
There are many times in life when you may need to be making changes to your estate planning documents. Expanding families, marriage, divorces, starting new businesses and moving to new states are just a few. An important opportunity for updating your estate plan...
Preparing for estate taxes
The ultimate goal of your estate planning efforts may be to preserve as much of your assets as possible by limiting your liabilities. Ensuring the settlement of your debts and planning ahead for distribution that qualifies for available credits against taxes help...
Rules to creating a valid will
The first part of a solid estate plan is a will. This document spells out your wishes and explains what you want to happen with your assets when you die. It provides a legal basis for the distribution of your assets during the probate process. If you die without a...