In the real estate world, there are two basic ways to get more deals. The first is obvious: to go out and find properties through marketing, networking, and hitting the pavement. The second is unconventional, but lucrative with the right approach: make better deals out of the properties you’re already looking at. There’s no such thing as a bad property, only a bad deal. Continue reading “The “Other Way” To Get More Deals”
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Adding a Gifting Rider to a Comprehensive Power of Attorney May Assist During Catastrophic Events
In New York State, a gifting rider grants an agent the power to gift assets and resources. In addition, an agent may utilize the gifting rider to transfer assets out of the principal’s name for Medicaid purposes. For this reason, incorporating a gifting rider into a comprehensive power of attorney may be essential to managing and protecting assets in the event the principal becomes incapacitated. In addition, without a gifting rider, an agent is limited in their power. Continue reading “Adding a Gifting Rider to a Comprehensive Power of Attorney May Assist During Catastrophic Events”
Establishing a Pet Trust Will Protect Your Furry Friend
Today, furry friends have become part of the family. Recently, more pet owners are looking to ensure that their pets are taken care of in the event he or she becomes incapacitated or dies. One way to ensure that a beloved pet is taken care is to establish a comprehensive pet trust. A pet trust is a valid legal directive that provides protections to ensure that a pet is well taken care of in accordance with the owner’s wishes. Continue reading “Establishing a Pet Trust Will Protect Your Furry Friend”
Benefits of Establishing a Comprehensive Power of Attorney
A power of attorney is an advance directive that is designed to designate an agent to make financial decisions on a person’s behalf in the event he or she becomes incapacitated. There are a number of benefits to developing a comprehensive power of attorney.
Establish Who Will Make Decisions on Your Behalf
In the event that a person becomes incapacitated and can no longer make decisions, a designated agent that you trust will now be able to act on your behalf to make important financial decisions. If a person does not have a comprehensive power of attorney, a guardianship proceeding may need to be commenced. Continue reading “Benefits of Establishing a Comprehensive Power of Attorney”
Real Estate: Dealing With Setbacks, Crisis & Other Problems
Like any other field, there is plenty of potential for error in the real estate world. Whether you are drafting problematic lender contracts, delaying action on overdue payments, or underestimating budgeted repairs, chances are you have made a mistake at some point. This is completely natural, and believe it or not, may even pave the way for personal and professional growth. Read on to learn more about the positive aspects of these setbacks, and what they mean for property owners. Continue reading “Real Estate: Dealing With Setbacks, Crisis & Other Problems”
The Fundamentals of Capacity when Executing a Will
The main component to executing a Last Will and Testament or any advance directive is that a testator must have testamentary capacity at the time of execution. In accordance with New York State law, a person must be of “sound mind.”
Specifically, the testator “must have the intelligent knowledge of his or her natural objects of their bounty, property, and possessions, and must know what he or she wishes to do with those assets.” Continue reading “The Fundamentals of Capacity when Executing a Will”
Executors Play an Important Role
An executor of an estate is the person named to act on behalf of the decedent. An executor has a fiduciary duty to ensure that the decedent’s wishes for the disposition of his or her property and assets are carried out accordingly. In addition, the executor is responsible for the administrative process of an estate, including paying taxes and creditors. Furthermore, an executor is not required to have prior experience or knowledge in the field. Continue reading “Executors Play an Important Role”
What You Should Know Before Hiring an Intern
Whether or not an intern is paid is usually a deciding factor in considering hiring one. While many internships are not paid, labor laws usually allow the intern to work for college credit. However, there are restrictions to this exception. An internship must abide by specific criteria in order to be exempt from the Minimum Wage Act and Orders, which outlines New York’s laws regarding pay and overtime. In order to be exempt from this law, an intern cannot be considered an employee and an employment relationship cannot exist between the for-profit business and the intern. It can be determined that an employment relationship does not exist if the relationship meets all of the following criteria: Continue reading “What You Should Know Before Hiring an Intern”
Proposed New York City Legislation Seeks to End Requirement of After-Hours Work Communications
Do employees have the right to disconnect? Rafael Espinal, a New York City council member from Brooklyn, thinks so. On March 22, 2018, Councilman Espinal introduced a bill that would make it illegal for employers to require employees to access work-related communications when they are off duty, on vacation, using personal days, or off sick. These communications can include, but not limited to, emails, text messages, and instant messenger services. Continue reading “Proposed New York City Legislation Seeks to End Requirement of After-Hours Work Communications”
Navigating the Uncertainties for Long-Term Care Needs
Medicare is a Federal program enacted in 1965. It is an earned-benefit program for those that are aged 65 or older or disabled. It consists of parts A, B, C and D. Part A is for hospital insurance coverage, as well as limited stays in nursing homes and some rehabilitative services such as physical, vocational, and speech therapy. Usually, there is no co-pay for Part A coverage. However, it is $167.50 per day for skilled nursing facility visits in excess of twenty-one days. Continue reading “Navigating the Uncertainties for Long-Term Care Needs”
