To ensure that your property will go to your desired recipients after your passing, it is crucial to have a valid last will and testament. A will is a legally binding document that specifies how you want to distribute your assets at the time of your demise. In New...
Year: 2024
The risks of buying and selling property in New York
Real estate transactions do not always go as planned. You may find yourself in a situation where the deal falls through after months of work. As a buyer or seller, you stand to lose significant time and money if you do not have the proper legal protections in place....
Your digital afterlife: Planning for your online legacy
Gone are the days when estates were just about houses and cars. Today, a big part of our lives exists online. Social media profiles, email accounts and even digital photos –are all considered digital assets, and just like your physical belongings, they need to be...
What is a real estate appraisal and when is it needed?
As a business owner, there may come a time when you need to let the property go. That's when appraisals become beneficial. However, many people associate appraisals primarily with selling a property. This isn't the only time it becomes useful, though. It is also...
Why you must update your estate plan when facing a divorce
Divorce is a complex process involving extreme emotions and multiple legal considerations. While it signals the end of your marriage, it also opens a new chapter in your life. And when major changes happen in your life, it is crucial to revisit your estate plan....
What to inspect when doing due diligence before buying property
Buying a property can be exciting, but this significant decision often requires thorough work and deliberation. Real estate purchases usually involve considerable money, so doing due diligence can be essential. This process is vital in detecting hidden hiccups,...
Can you step down as executor of an estate?
Not everyone can shoulder the heavy responsibilities of an executor when the time comes. Perhaps you’ve realized that the tasks exceed your capabilities or that your current situation may make it challenging to meet the demands of the role. Whether it is a health...
Why estate planning is essential for high-net-worth individuals
Two out of three adults in the United States have no established estate plan. This startling statistic can have severe implications for grieving families of individuals with high net worths. Suppose you have a significant amount of assets. In that case, estate...
What circumstances can get in the way of a real estate deal?
Real estate transactions often follow the same process, making deals seem predictable. However, some circumstances can be too severe to ignore, leading to the deal's disruption or cancellation. Even if the sale is already at closing, the buyer can face significant...
What are the will limitations in New York?
A will can be a vital component of your estate plan, especially if you want to solidify your wishes involving your estate after your death. However, this document can have limitations, depending on state law. Different restrictions or limitations in New York can...