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...
White Plains, New York Legal Blog
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...
Four common contingency clauses in transactional real estate
Buyers hold a certain power in real estate. One such power is the ability to include contingencies in a purchase contract. Understanding these contingency clauses not only provides a safety net but also increases their bargaining power in the transaction. In real...
What makes having an advance medical directive important?
Understandably, many New York residents value the peace of mind provided by advance medical directives. These directives let you detail medical-related instructions if you're incapacitated or communication is otherwise impossible. Having such control benefits you and...
What is a successor trustee?
When setting up a revocable living trust, you may need to review vital details, including the other parties essential to the arrangement. These appointments can vary depending on the trust's features and your preferences. Sometimes, it is easy to decide who to assign...
What makes a title defective?
Purchasing property often involves subsequent procedures necessary to ensure the sale goes through without legal or financial issues. These steps can also help detect problems with the property that may not be visible immediately, such as title defects. When a title...
When should you appoint a power of attorney?
Your journey through life is a series of wins and losses. Through these ups and downs, you gather not just invaluable experiences and lessons that are uniquely yours, but tangible wealth as well. However, there can be situations where you might suddenly find yourself...
Why is it better to be represented by a buyer’s agent?
Property buyers are naturally motivated to maximize their investment and get the best possible exchange in real estate transactions. But for first-time buyers, the intricacies of closing a deal may not be as straightforward. Without proper guidance and representation,...