When a loved one dies, it is common to start asking questions about their estate. While it is recommended that every individual have a Last Will & Testament, in many cases, simply having a Will does not mean that probate is necessary. (more…)
Blog Category: All Insights
As any aspiring new business owner, you may be in the midst of writing a business plan and envisioning your future successes. At the early stages of business formation, oftentimes, clients are flooded with a wealth of information and overwhelmed with decision-making. Too often, clients rush right into entity formation without fully understanding the reasoning behind their first big decision.
In New York State, there are six basic entity structures that exist: sole proprietorship, limited liability company, general partnership, limited partnership, corporation and not-for-profit corporation. A basic understanding of these business structures can help you to find the right type of business entity for your new venture.
In New York, a contract is formed when there is an offer, acceptance of an offer, and consideration exchanged between the parties. Usually verbal agreements are translated to a written document that outlines the exact expectations of each person entering into the agreement. The intention of a contract is that people can negotiate, discuss, and set forth exact rules to govern future disputes. (more…)
Most landlords don’t allow tenants to have pets, of any kind, in rental units. However, a “no pet policy” may have to be suspended if a current or prospective tenant has disabilities.
The federal Fair Housing Act (the “FHA”) prevents discrimination in housing related matters because of race, color, religion, national origin, sex, familial status, or disability. The FHA applies to a variety of housing transactions such as rentals, sales, mortgages, and homeowner’s associations. The FHA’s goal is to ensure that all persons receive equal housing opportunity. (more…)
Landlord-tenant relationships are governed by a patchwork of state and federal laws, including statutes specifying items that must be included in residential lease agreements, along with items that are void if included.1 Due to the makeshift structure of laws governing residential leases, it can be difficult to know whether a lease complies with all applicable laws. Landlords, are your leases up to snuff? Below is an overview of items that must be included in a residential lease, or that would be trumped by statute if the terms of the lease are conflicting.2
Medical professionals entering the workforce today face a rapidly evolving, and continuously changing, healthcare landscape. Because of this, healthcare professionals, and especially physicians, must grapple with a unique set of challenges – fewer independent medical practices, rising compliance and administrative burdens, and reduced independence, among many others. Increased, and still increasing, consolidation has afforded hospitals and health systems greater bargaining power in the employment marketplace. Physicians preparing to enter into employment arrangements face one of the most important decisions of their professional lives – and a challenging set of legal, financial, and ethical considerations. (more…)
Parents and married couples often ask whether they should deed their primary residence to their adult children. The answer depends on the objective. Many clients seek to avoid probate following their deaths, making transferring the house during their lifetime a means of estate planning. Other clients are focused on the rising health care costs and their potential needs for assisted living or long-term nursing home care. For Monroe, Ontario, and Livingston counties, the estimated cost for nursing home care is $140,304.00 per year or $11,692.00 per month. These estimates are average nursing home rates. The actual cost of a nursing home can be higher or lower depending on the type of facility. Since long-term care planning with real estate often requires advance planning, it is important to understand what Medicaid planning is and why you may want to explore your options now. (more…)
The use of unmanned aerial systems (UAS), commonly known as drones, has grown rapidly over the past few years, including their use in real estate photography. Residential listings show images and videos of an entire parcel, the house from above, and large rooms or foyers from the ceiling. Commercial listings show images and videos of multiple parcels, the nearby bustling city and the skyline. They depict what could not be captured with regular photography – the full lot or development site, nearby amenities, the height of the ceilings, a comparison to neighboring lots, and virtual tours spanning the roof to the remodeled kitchen. Whether agents or brokers take UAS pictures themselves or they hire a third party, real estate photography is more than a hobby; it is a business, and one that is highly regulated. (more…)