Many families today hold real estate through LLCs for asset protection and liability reasons. At the same time, more and more are using revocable and irrevocable trusts as part of their estate plan to avoid probate, protect privacy, and plan for smooth wealth transfers.rnrnBut what happens when those two tools intersect?rnrnCan a trustee automatically step into the shoes of a deceased LLC member? Will the operating agreement recognize that trustee as a valid decision-maker? And what if it doesn’t?rnrnThese questions often come up during moments of transition—after the death of a parent, during a refinance, or when it’s time to sell inherited real estate. At that point, if the documents weren’t set up to speak to each other, the result is confusion, delay, and sometimes conflict.
Reena Gulati Blog
Many families assume the home should always stay in the family. It represents memories, security, and legacy. But in my practice as a New York estate planning attorney, I often see how real estate can create more problems than it solves when it is not planned for properly.
Interest rates have a nuanced impact on residential lease agreements, necessitating adept legal navigation. An experienced attorney can assist landlords and tenants in understanding these implications and ensuring compliance with New York real estate laws.
The process of subdividing land and assigning new tax lots in New York can be complex, particularly when it comes to understanding the implications for property taxes.rnrnSubdivision refers to the division of a parcel of land into two or more separate lots. In New York, the process of subdividing land is typically regulated by local municipal authorities, such as planning boards or zoning boards. The subdivision process involves obtaining necessary approvals, complying with zoning regulations, and adhering to specific subdivision requirements set forth by the local municipality.
Congratulations! You are purchasing your first home. It's exciting. Maybe you have been waiting for this for a longtime. You have spent several weeks, months, years looking for a house. It's the single most important and maybe the most expensive asset in your portfolio. Now you need to invest your time in getting the right team in place. So you made an offer and it was accepted what next? Here are three steps you must take to protect your most valuable asset.
