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...
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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 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...
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,...
Do you need title insurance?
Whether buying a new home or a commercial property, you should consider among the requirements to close the deal title insurance. It is virtually always a prerequisite when seeking funding to purchase the property. You need both "fee" title insurance to protect...
Should you challenge a will?
A will is a legal document that instructs a testator’s last wishes. Testators include the names of their beneficiaries, amount or percentages of their assets for distribution and appoint executors in their wills. When the testator passes away, the executor is...
When should you change your executor?
Your executor plays an integral part in your estate plan, as they will carry out all the wishes you lay down. But your chosen party may not assume their duties - you may need to choose another person later. When should you change your executor? Your executor...
Estate planning for high-worth individuals
The estate planning process for individuals in New York with a significant net worth can be challenging. Several elements need to be considered, including tax liabilities and matters that impact the family. Setting priorities Setting priorities is a crucial aspect of...
13 red flags to look out for before signing a lease
Finding the perfect apartment could be arduous. The process could be lengthy and complicated based on what you believe is an ideal space. You could be considering a range of factors, including the apartment’s proximity and amenities. However, these are not the only...