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New York Legal Issues Blog

Rooftop venues becoming more popular with developers

The old adage, “you get what you pay for” may be a cliché when it comes to real estate; but in a growing trend among commercial real estate developments in New York City, investors and developers alike are taking consumer experiences into account.

Rooftop bars and restaurants are becoming more than just venues to have a nice meal. With that, developers are realizing that venues with premium views offer fantastic opportunities to share unique experiences on social media, which in turn, boost revenue for building owners. For instance, a chic restaurant with panoramic skyline views will be an ideal place for a birthday party, company celebration or even a wedding reception, in addition to a regular restaurant experience. Add in exclusive access through special elevators, and a rooftop can be the place to be seen.

How pet trusts are becoming increasingly popular

For those who believe that pet trusts are only for wealthy and senile individuals, this sentiment is gradually changing across America. In fact, more people are making provisions in their wills for family dogs and cats to be cared for in the event their owners passed away or became incapacitated. The American Pet Products Association reported that last year, 9 percent of pet owners included provisions in their wills to ensure that their cats and dogs were cared for. This was an increase compared to the number of people who did so in 2010.

New York is a nice place to visit and a great place to live

One of the most visited places in the United States is New York. There is no comparison to the cultural opportunities for residents and visitors alike. Some travel to the city in the summer to enjoy the parks and festivals, and others love the winter for the holiday lights and shopping. Of course, at this time of year, with the leaves changing color, there are few places more beautiful. In fact, many who visit decide to stay.

No matter the season, New York is a lovely and exciting place to live. Not only does the city attract transplants from all over the country, but people from overseas are a major part of the real estate trends. If you are looking to purchase a residential property in New York from your home overseas, you may have many questions.

Jerry Lewis leaves children from first marriage out of his will

It is said that family members come together when a loved one is terminally ill so that they can set aside old grievances. While this behavior is ideal, it is not always the case. In fact, some people may take their umbrages to the grave by cutting specific people out of their wills. This may include children, siblings, business partners and especially former spouses.

The latest example of this is seen with Jerry Lewis’ will. The long time comedian whose telethon has become ubiquitous with Labor Day weekend recently had his will probated. It was discovered that he left all six of his children from his first marriage to Patti Palmer out of his will. Lewis and Palmer were married for 36 years. 

Can child support be sought from a deceased parent's estate?

The passing of a loved one is undoubtedly an emotionally difficult time, even if the recently deceased was a non-custodial parent who was delinquent on child support obligations. In these instances, a custodial parent may feel like a vulture over roadkill, but the reality is that a deceased parent’s child support obligations may not pass into the afterlife with them. Like other debts, creditors have a right to initiate appropriate actions to obtain payments on outstanding debt.

With that said, a custodial parent is at liberty to discover if the deceased parent made provisions in the will, or their estate plan, for the support of any surviving children.  Chances are that an insurance policy names the child as a beneficiary, or a trust was created with the same intentions. 

Is there a Darwinian effect in commercial real estate?

In a number of our posts we have highlighted the steady erosion of brick and mortar retailers as some succumb to the growing popularity of online shopping. To some, this may signal the beginning of the end of commercial real estate, but to others, it is simply an evolution of the marketplace.

Basically, some analysts believe that large commercial retail spaces previously occupied by big box stores or department stores are simply being replaced by relevant retailers. In fact, a recent globest.com article highlighted how commercial real estate brokers get calls every day from prospective retailers that are looking to expand their reach. 

Is a battle brewing over George Michael's estate?

Since a dispute over the late George Michael’s estate arose between the late pop star’s family and his lover, the media and legal analysts alike have been waiting with baited breath on whether a probate litigation battle will ensue.

For the uninitiated, there is no love lost between Michael’s family (particularly his sisters) Fadi Fawaz, whom he had a relationship with. Tensions had been so bad that Fawaz was not invited to funeral services put on by the family. 

What age should you plan on living to?

While a number of estate planning posts focus what should be done to prepare for retirement, not much is said about life expectancy. After all, most retirement plans are based in part on how long a person is expected to live. With health care advances and more emphasis on healthy living, it is out of the question to think about living to 100?

A recent marketwatch.com report explored this question. By analyzing mortality rates provided by Social Security actuaries, researchers concluded that life expectancies for most people (particularly those who are married) are expected to increase in the future. With most people expected to live to age 84 or 86, it is reasonable to believe that some will exceed these expectations since life expectancies are based on averages. 

Limited liability company: Does your startup include this option?

New York is definitely a hub of entrepreneurship in the nation. If you're currently developing ideas and plans of your own to make  your mark on the fast-paced, ever-changing business world in America, you obviously want to gather as much information as possible regarding current business statistics, as well as commerce regulations that may impact your personal business journey. Launching a business is a highly customizable endeavor; however, there are so many options available it's easy to feel overwhelmed.

Choosing a structure for your business is no doubt one of your highest priorities during the start-up phase. Many new business owners choose the limited liability company plan as their most viable option. If you think you want to set up shop as an LLC but are unsure how to go about it, there are several key issues to consider and steps you can follow to simplify the process.

Common housing issues between millenials and baby boomers

At first glance, baby boomers and millenials couldn’t be any different. After all, millenials revel in communicating by text message and email, while baby boomers prefer face-to-face conversations and still use telephones to call someone. Baby boomers tend to work for fewer employers over the course of their professional lives, while millenials feel comfortable with the “gig” economy.

In spite of these differences, millenials and baby boomers may find common ground when it comes to finding a home. According to a recent globest.com report, both groups prefer homes that are centrally located to transportation hubs, shopping and other attractions. They both prefer homes that have a number of modern amenities, such as customized backsplashes, their choice of cabinetry and floor colors, as well as wireless connections, even though their reasons may be different. 

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