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Good news for commercial real estate investors

As we have noted in a number of our posts, the key to success in real estate is to buy low and sell high. Whether you are considering distressed residential real estate or commercial properties that need work, if you can see a diamond in the rough, you are likely to maintain success in the marketplace.

These proverbial diamonds apparently can still be found in commercial retail properties. Market analysts suggest that now is the right time to purchase such properties because the fundamentals surrounding such properties are still strong.

Can insurance policies be lost?

As estate administration attorneys, it is very interesting to see what family members learn about someone after they pass away. Perhaps there are long-standing, clandestine relationships or personal achievements the deceased was too humble to share. Regardless of the family secrets that come out when a loved one passes away, insurance information should not be one of them.

Suffice it to say, insurance coverage can be one of the many things that “gets lost” when a loved one passes. This could be because family members never knew that premiums were still being paid (and coverage still applied) or the insurance company never notified beneficiaries or next of kin that benefits were available.

Future amenities for senior living centers

In prior posts we have highlighted what the increase in demand for senior living facilities may look like in the future, as the number of senior citizens is poised to grow at least 60 million within the next 20 years. With that, buildings for senior citizens will have to include amenities such as “smart” systems that are energy efficient and can monitor a resident’s health readings. They may also require cybersecurity systems and handicap access, to name a few.

But the overriding question is how developers will accommodate so many senior citizens who may need or desire this type of housing. After all, assisted living centers are prohibitively expensive for so many Americans, and they may be unfortunately isolated, thus prevented able senior citizens from maximizing their lives.

EB-5 is not the only way an entrepreneur can get a visa

If you are planning to come to the United States to start a business, you are certainly frustrated by the complex and uncertain process of obtaining an investor visa through the EB-5 Immigrant Investor Program. You are ready to make a substantial investment in a U.S. project that will potentially employ dozens of people, but you cannot get your project off the ground because of the long delays in the EB-5 program.

Fortunately, there are alternatives that may provide you with a way to obtain a green card and get to work building your business. If you are anxious to begin your investment project, you may wish to explore other options.

What may separate a gem from junk in real estate

If a real estate broker informs you of a potential "hidden gem" that has "great potential" it is natural to be skeptical. After all, what may be a gem in one broker's eyes may simply be junk in another's.  Moving past speculation to reasonable projections may not be easy, but with shrewd planning you separate truth from fiction.

This post will highlight two important considerations in performing a real estate valuation analysis.

Three tips for protecting digital assets

Estate planning in 2016 is not like how other generations planned how their assets would be distributed when they passed away. Indeed, people still establish wills and different forms of trusts, but with so many people having digital assets (i.e. email accounts, social media data and electronically stored information) it is important to know what to do with these assets when a person passes away.

To help in this, the following tips should be considered.

Another confusing tax form for executors

With tax season in full swing, it is not just tax payers who are concerned about filing taxes. The confusion over how to complete tax forms may not go away for executors tasked with administering an estate. Obscure and dense tax forms can be vexing; especially for those who do not regularly deal with them.

But due to legislation passed in 2015, executors must now complete IRS tax form 8971. This post will briefly explain what the form is and why it can be confounding.

The number of Manhattan commercial leases expected to increase

The more things change, the more they stay the same.

This popular adage accurately describes the commercial real estate market in Manhattan. Traditionally know as the commercial “high rent district” for decades, midtown saw a majority of the highest commercial real estate leases in 2017.

What can happen to your debts after you pass away

If there are two things that remain constant through generations, they are the certainties of debt and death. Everyone has debt at some point in their lives, and everyone has an end to their life. Those who are up in age may be concerned about the amount of debt they have and whether they can pay it off before leaving this life. Additionally, they don’t want to be a financial burden on their families and don’t have the mental health or emotional stamina to deal with creditors.

Some may believe that their debt dies with them when they pass away, but it is critical to know that this may not always happen. Additionally, it is important to know what types of creditors will attempt to collect after a person’s death.

Are video wills valid in New York?

Cameras on smartphones arguably changed the world. As a new form of communication, we can send an infinite number of pictures to show what we mean beyond the spoken word. We can also take and send videos of fun, tragic and even intimate moments. We can also record events that have particular legal significance.

The making and signing of a will is one of them. New York law allows for nuncapative, or oral wills in limited circumstances. Members of the military and similar forces in armed combat as well as mariners at sea are eligible to make nuncapative wills. Often referred to as “deathbed” wills, these oral promises can be used to demonstrate a person’s intent to distribute property and assets according to the person’s wishes.

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