Our Blog

As a real estate buyer, you may be anxious to wrap things up and close on a property. The process can be long and arduous. Finalizing the deal is likely something you are looking forward to with great anticipation. Don’t let the rush to the finish line prevent you from taking important steps to make sure you are protecting your best interests and getting a favorable deal from the whole transaction. One important step, for instance, that you should take care to be especially mindful of, includes negotiating repairs after a home inspection.

Buying a home is an exciting, and often stressful, time! For many, purchasing a home may very well be the single biggest purchase they make in a lifetime. In addition to the financial investment, there is also a significant emotional investment in buying a home, a place where many hope to build memories for years to come. Because of all of the energy, emotions, and money that can go into finding and buying the right home for you and your family, it can be best that you do whatever you can to protect your interests throughout the process. A dedicated real estate attorney can prove invaluable to the home buying process for a number of reasons, which we will detail here.

Buying a Home? Reasons Why You Should Hire a Real Estate Attorney

First and foremost, it should be said that New York actually requires an attorney to execute certain parts of the home buying process.

Probate is the court monitored process of administering an estate after a person has passed away. You may have heard that it can be a good idea to try to avoid probate, which can be accomplished during the estate planning process. At this point, however, you may be wondering why it can be so beneficial to avoid the probate process. There are several prominent reasons for doing this and we will discuss them in more detail here.

Why Avoid Probate?

The prospect of facing an intensive and extensive legal process in the wake of losing a loved one can seem less than appealing.

In addition to estate planning basics such as a will and advance health care directives, you may want to look into adding a trust or two as well. Trusts can vary in scope and purpose, but can come with a number of benefits when properly executed. In order to establish a trust, a trustee must be appointed who is tasked with managing the trust for the benefit of trust beneficiaries. Also, the trust must be funded. This means that property must be transferred into the ownership of the trust itself.

Everyone should have an estate plan in place. It is a plan that helps protect your best interests and those of the ones you love in the face of an otherwise uncertain future. Because estate plans are such a reflection of a person and family’s circumstances and situation, every estate plan can and should look different.

Buying a home can be an exciting, albeit an overwhelming and expensive, endeavor. In fact, for many, if not most, people, buying a home will be the single largest purchase they will ever make. Because of the sizeable financial investment people make in a home, not to mention the fact that you are looking to build a life in it, it can be critical to conduct due diligence in the buying process and take care at every step.

Being able to act as a caregiver to an aging or disabled family member can be a very fulfilling and rewarding endeavor. Family caregivers are able to make family members more comfortable as they age in place at home. While acting as a family caregiver has its own rewards, it can come with pretty substantial financial costs. Many family caregivers have to forego job opportunities or job advancement. Some need to stop working completely to meet the demands of serving as a family caregiver.

Watching our parents age and struggle with everything that can come along with the aging process can be difficult. It can be emotional, nerve-wracking, and anxiety-inducing. Sometimes, the needs of an aging parent may exceed the level of care that family and loved ones can provide. When this happens, it is likely time to move that parent to a

The complexities of real estate transactions can hardly be understated. Even those who have bought or sold a home in the past may feel overwhelmed when confronted with another real estate deal. Despite the complexities, however, it can be important to understand some of the basics.

Many rely on Medicaid to cover things like the often substantial cost of long-term care. A need-based program, Medicaid benefits are only available to those with limited assets and financial resources that fall below the qualification limits. With proper planning, a person can plan to qualify for Medicaid without having to spend down a lifetime of savings first. Medicaid planning, however, should also take into account Medicaid Payback as Medicaid will seek repayment for benefits distributed from a person’s estate.

Do You Have to Pay Back Medicaid in New York?

Family members morning the loss of a loved one may be more than surprised when they receive notice from the Medicaid Estate Recovery Program (MERP) that requests payment for benefits their deceased loved one received prior to passing away.

Selling, and buying, a home can be an emotional rollercoaster. The highs and lows and worries can really take you for a ride. When you finally get that offer on your house, you may be excited and relieved, but then worry may start to set in.