Revocable vs. Irrevocable Trusts in New York State
It’s been a while since we’ve touched on the basics of trusts and some people have been asking for a basic primer on the different types of trusts and what would be the best use of a trust for their specific situations.
Why Every Long Island College Student Needs a Health Care Proxy and Power of Attorney
When your child turns 18, they are legally considered an adult. This exciting milestone comes with new freedoms, but also important legal changes many parents don’t realize until it’s too late. Under HIPAA (the Health Insurance Portability and Accountability Act), parents lose automatic access to their adult child’s medical records. And once your child is no longer […]
Estate Planning Lingo Cheat Sheet
Last month, we discussed real estate terms to know, and this month, we tackle estate planning terms. I’ve picked five fairly common terms, but if you haven’t had experience with estate planning before, you might not know exactly what they mean. Power of Attorney or POA. This document appoints a person (your agent) that you […]
Real Estate Lingo Cheat Sheet
Essential real estate terminology guide. Understand contracts, closings, title issues.
Establishing an Article 17-A guardianship and the Supplemental Needs Trust (SNT)
If your child with developmental or intellectual disabilities is approaching 18, consider applying to the court to be appointed as an Article 17-A guardian. Once they turn 18, an incompetent person is now legally recognized as an adult, and parents or guardians no longer have automatic authority to make legal or financial decisions on their […]
After A Loss: Your Guide To Legal Matters And How To Prepare
Losing a loved one is incredibly difficult. You are grieving, planning for family members and friends to come into town, making decisions regarding funeral services and memorials, and maybe facing financial hardships. It’s a time of stress, overwhelm, and great sadness. The last thing on your mind is legalities, but unfortunately, these things come up […]
Foreclosures, Your Options And The New Laws Passed In New York
There are two new items I wanted to share with you this month, in regards to foreclosures. Foreclosure Abuse Prevention Act On December 30, 2022, New York State Governor Hochul signed the Foreclosure Abuse Prevention Act (FAPA.) The Act amends the Real Property Actions and Proceedings Law (RPAPL), General Obligations Law (GOL) and Civil Practice […]
7 Issues That Could Delay A Closing Purchaser’s Side
This month, we are going to focus on some of the common issues I see pop up that could delay a closing on the purchaser’s side in a real estate transaction. Next month, I will dig into the seller’s side, so stay tuned! Not enough money for closing costs If you’ve purchased a house, you […]
Open — but paid off — Mortgages
As we continue our conversation this month on some things to look out for when selling or purchasing a home, I am going to discuss old mortgages that show up on your title report and how they might affect the sale. Chances are, when you bought your home, the prior owner had a mortgage that […]
But, It Was There When I Bought It…
Selling a home with a shed, deck, addition or finished basement? Why a missing CO or an open permit can hold up closing, and what to do before you list.