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Friday, November 25, 2022

4 Steps to Protect Your Real Estate Investments


When it comes to investing in real estate, protecting your assets is the name of the game. As such, each property will present its own set of challenges and require different protection strategies.

If you are looking for ways to protect your real estate investments, you’ve come to the right place.
Read more . . .


Friday, October 28, 2022

4 Things to Consider When Choosing a Home Warranty


Most homeowners in New York are required to purchase homeowners insurance as part of their mortgage agreement. Homeowners insurance policies usually cover significant damages to a home, personal liability in the event of an injury, or losses from theft.

Homeowners insurance differs from a home warranty because the latter is considered supplementary protection. More specifically, home warranty policies are optional measures that can cover the cost of replacing or repairing home systems and appliances when they break down.

Purchasing a home warranty can be a frustrating experience for many homeowners, but knowing what to look for can help you make the right decision.
Read more . . .


Friday, October 28, 2022

Home Warranty vs. Homeowners Insurance: What’s the Difference?


The distinction between home insurance and home warranty policies comes down to a few main elements regarding their specific coverage.

In a nutshell, home insurance is designed to cover damages to a home's structure and the personal property contained therein. Home warranties are concerned with damage to a home's infrastructure and internal components.

In New York, homeowner's insurance is often a requirement by mortgage lenders that helps protect homes against significant losses. Home warranties, on the other hand, are an optional form of protection that many homeowners may purchase for the sake of their peace of mind.
Read more . . .


Monday, September 26, 2022

5 Common Property Title Disputes


Purchasing or selling property is often one of the most exciting times in a person’s life. However, when issues with the property title arise, it could put a damper on the entire experience. Fortunately, a skilled lawyer can help.

If title disputes come up at any point during a purchase or sale of a property, a qualified real estate attorney can help.

What is a title dispute?

When you sell a home, you’re transferring title to the buyer.
Read more . . .


Monday, September 26, 2022

Taxable Estate: What Is (and Isn’t) Included?


While considering the financial impact of your death may seem morbid, having an estate plan in place can protect your heirs from headaches down the road and ensure that your assets are distributed according to your wishes. It is crucial to understand the various types of assets included in your estate plan and how they will be taxed.

Who must pay estate tax in 2022?

The current federal exemption for estate taxes in 2022 is $12.06M. Estate tax returns for estates valued at less than the exemption are not required to be filed with the IRS.
Read more . . .


Thursday, August 25, 2022

Protecting Your Elderly Loved Ones: How to Spot Predatory Situations


As your loved ones become older and lose their financial independence, they can become vulnerable to a number of abusive and predatory behaviors.

Financial exploitation from family members, friends, and even care staff is a common occurrence. Predatory situations can lead to bank accounts being drained and can leave your loved ones destitute after a lifetime of financial planning and saving.

Knowing how to spot predatory situations early on can help prevent financial catastrophes and protect the assets of your older family members.

Elder Abuse — an Epidemic

According to the National Center on Elder Abuse, approximately 6 million cases of abuse were reported in 2010.
Read more . . .


Monday, August 22, 2022

Inflation’s Impact on Your Long-Term Care Plan: Is It Time for a Review?


Inflation has touched just about every aspect of life. Gas prices, rent, and food costs have soared in the wake of the COVID-19 pandemic and the war in Ukraine. Over the past 12 months, inflation has increased by 8.6%, the highest level since December 1981.

The trend is expected to continue, despite efforts to rein in inflation through a historic increase in interest rates.
Read more . . .


Monday, July 25, 2022

Mechanic’s Lien: What to Know Before Buying the House


Despite its name, a mechanic’s lien comes from home construction or remodeling work. The typical scenario involves a subcontractor or supplier who does not receive payment from the general contractor. The subcontractor or supplier tries and fails to work out payment with the general contractor and ultimately goes after the homeowner and the home instead.

Here is an overview of what you need to know about mechanic’s liens and what happens if you buy a house with a lien against it.

How a Mechanic’s Lien Happens

A mechanic’s lien usually starts as a dispute about payments from the general contractor.
Read more . . .


Monday, July 25, 2022

Why Does My Trust Need to Be Funded?


A trust is a legal structure that many people use for asset protection and estate planning. A trust splits legal and equitable ownership of the trust assets, which protects the assets from creditors during your lifetime. It also ensures that the assets get distributed according to your wishes after you die.

Learn how trusts get formed and why your trust needs to be funded.

Structure and Function of Trusts

Trusts have complex rights and duties, which can make them confusing for many people.
Read more . . .


Friday, April 29, 2022

How Important Is a Home Warranty?


The purchase of a new home is exciting! It’s likely that when you purchase a home, even if it’s an older one, you’ll be offered a home warranty. Home warranties are offered as a means of protection against unexpected and expensive home repairs.

What is a home warranty?

A home warranty is like an insurance policy. It’s a contract between a home warranty company and a homeowner designed to protect against major home system and appliance breakdowns caused by regular use.

If something breaks down that is covered by the warranty, the homeowner simply calls the company, and the warranty company handles the repair.
Read more . . .


Friday, April 29, 2022

7 Reasons Why Trusts Aren’t Only for the Wealthy


Two common ways in which people plan for the disbursement of their property are through a Last Will and Testament and by creating a trust. People often associate trust funds, or trusts, as tools only used by very wealthy people. However, there are advantages to establishing a trust from which people who are not wealthy can benefit.
Read more . . .


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