Whether its a Manhattan apartment, a Hamptons beach house, or something in between, buying or selling real estate is complex. Navigating the real estate market  can be fast paced and confusing.  Luckily, I am here to help. As a practicing real estate attorney, I have represented clients buying and selling real estate from Montauk to Manhattan for years.

NYC Coops / Condos

It is important to know the difference between a coop and a condo if you are buying or selling an apartment in NYC.  An owner of a coop apartment owns shares in a corporation, not real estate.  The coop corporation leases an individual unit to the owner of the stock shares.  As a general rule, coop boards are more strict in regards to the financial condition of a buyer, the remodeling of an apartment, and your behavior, than a condo.

An owner of a condo owns real estate.  The owner of the apartment owns the apartment and a portion of the common areas.  As a general rule, the living restrictions are less stringent.  However, the market value of a condo is generally higher than that of a coop of similar size and location.

Please contact me to ensure you're making the correct choice for you.

First Time Home Buyers

If you're a first time home buyer, you have a ton of questions.  Let's face it, the thought of buying a home for the first time is incredibly exciting and scary, all at the same time.  You want to choose a lawyer who will spend the time to answer all of your questions in a thorough manner.  There are many first time home buyer's programs and grants available if you know where to look.  Let me help.

You worked your entire life to build wealth.  After all that hard work, why wouldn't you protect it? Make sure it goes to the people you love and cherish!

Last Will and Testament

A Will is a document that serves as written evidence of your last wishes on earth.  It allows you to specifically provide for those you care most about. In addition, if you have small children, it allows you to provide for who will care for them in the event of your untimely demise.  Do you really want your horrible sister in law to raise your kids? Contact me to develop a comprehensive plan to save you time, money, and arguments in the future.

Health Care Proxy

A Health Care Proxy is an important document in the unlikely event you are unable to make health decisions for yourself.  You can name your most trusted confidant to make these decisions for you, in accordance with your wishes.

Power of Attorney

Similar to a Health Care Proxy, a Power of Attorney names a trusted individual to make decisions regarding your finances, should something happen.  It is important to avoid confusion in the future.

Trusts

Trusts can be an extremely useful tool in estate planning.  They can help you avoid taxes, probate, and nursing home costs, if structured correctly.  However, they are not useful for everyone.  Please contact me to create a plan that works for you.

Probate vs. Administration

When an individual passes away with a Will, it must be presented to the court to ensure its validity.  This court proceeding typically results in the appointment of a personal representative, known as an Executor.  The same process exists for those who pass away without a will.  In this event, the court appoints a personal representative, known as an Administrator.  The role of the Executor and Administrator are the same. It is the duty of the Executor or Administrator to handle all aspects of settling an estate ie. paying bills, selling real estate, filing tax returns, closing accounts, and distributing money to the correct individuals.  The process is time consuming and confusing.  You are in the midst of grieving a loved one and don't need more stress.  Let me help you.

Accounting

Typically, the Executor or Administrator is required to keep financial records of investments, moneys paid out of the estate, etc. and compile an accounting which is distributed to beneficiaries.  As the personal representative, it is important to retain detailed records to avoid conflicts in accounting.

Estate Administration

Finally, the court has appointed someone to handle the estate.  Now the process must begin to liquidate, reinvest, and distribute the money from the estate to beneficiaries.  It is important as a personal representative of the estate to attain proper receipts from beneficiaries for the money distributed.  Improper distribution or handling of funds can result in liability of the Executor or Administrator.