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Tips for real estate investments in 2019

With the new year fast approaching, many individuals want to get their financial ventures off to a good start. In particular, individuals looking to make real estate investments, especially those just entering this field, will want to set themselves up for success in the coming year. Fortunately, New York residents can do that in a number of ways.

Because the real estate market constantly fluctuates, it is important that investors and potential investors understand how those changes could affect market value in the future. This information may help individuals determine whether they may need to make financial adjustments to account for unfavorable changes. Additionally, investors need to understand the market as a whole. They may need to spend a considerable amount of time learning about the important aspects of the real estate market.

Feeling cheated, jealousy could lead to probate litigation

Sibling rivalry is common in many New York families. For some, the disputes may only present themselves as small bouts of jealousy, but for others, the conflicts can be so severe that legal action is necessary to resolve them. After the death of a parent, fighting among siblings could easily lead to probate litigation.

Many children often have an idea of what a parent will leave them after death. When that idea does not turn out to be the reality of the situation, strife can result. A person may claim that the parent wanted him or her to have a certain item, and often, the executor is left to decide whether to let that person have an unspecified asset. However, if the person is given the item, other beneficiaries may feel cheated.

Passive real estate investing may be of interest

Many New York residents know that investing in various types of real estate can turn into a significant source of income. However, when real estate investing comes to mind, it is common for people to think about having to purchase property, find individuals to rent or lease, or have to take many other steps to make their investments worthwhile. This approach is known as active investing, but passive investing may be a viable option for interested parties.

Passively investing in real estate commonly involves utilizing real estate investment trusts. Among the major types of these trusts is an equity REIT, which invests in commercial real estate ownership. A mortgage REIT applies investments to the mortgages financing properties, and a hybrid REIT invests in both equity and mortgages.

Want to own real estate in New York City? Consider an LLC

Owning property here in New York City can provide you with a lucrative investment. With good properties at a premium here in the City, you will more than likely profit nicely from your purchase.

However, with the potential profits come the potential losses. In order to shield yourself from any liability, you may want to consider setting up a single purpose entity to hold the property for you that will shield you and your personal property.

Probate litigation possible after woman learns of mother's deceit

Family relationships are often complicated. Though people may have a profound love for their family members, they may make decisions that have negative impacts on those family members' lives. In some cases, parties may find out that deceased loved ones' choices severely altered their lives and could wonder whether they could pursue probate litigation.

New York residents may be interested in this type of case affecting a woman in another state. Reports indicated that at the age of 18, the woman had received a letter offering her full college tuition if she attended a university in another country. The offer came about due to the woman's talents in learning and speaking French, and if accepted, the offer could have led to a career using the French language. However, the woman's mother opened the letter, declined the offer and never told her daughter.

Man accuses brother of murder during probate litigation

While many families may hope to come together after loved ones' deaths, that is not always the case. Some individuals -- siblings included -- could end up facing significant disputes over the remaining estate of their loved one. Such cases could escalate to points at which probate litigation may occur to have the matter formally addressed.

New York readers may be interested in such a dispute currently underway in another state that involves accusations of murder. Two brothers are currently entangled in a probate lawsuit because one is set to inherit the majority of the estate. Additionally, one man claims that his brother had a hand in the death of their mother, who died by drowning in a hot tub. The man claims that their mother had an appointment with her attorney to make significant changes to her estate plans, but she died only hours before that appointment was to take place.

Getting started in commercial real estate investing

At any point in their lives, many people may decide to jump into a new industry for work. For some, they may find themselves interested in commercial real estate and wonder whether they could derive some income by purchasing and using, selling or renting commercial spaces. Individuals living in the state or those who are simply interested in New York commercial property may wonder how to get started.

Fortunately, many actions could help interested parties jump-start their real estate investing careers. One of the most important steps is to gather and read information regarding the industry and the successful people in it. By taking the time to learn, individuals may have a better chance of putting their best foot forward when it comes to breaking into this area.

Do no-contest clauses prevent all will contests?

There are many reasons why loved ones may feel unsettled about the manner in which a recently-passed family member distributed his or her assets. Some parties may think that they were unjustly disinherited, and others may think that someone took advantage of the loved one for personal gain. In these cases, it is not unusual for will contests to take place.

Because these contests can hold up New York probate proceedings, some individuals may want to take measures to prevent litigation. This may mean that they use no-contest clauses in their wills to deter challenges in relation to the terms of the document. These clauses often include information indicating that the person who challenges the document will forfeit any inheritance he or she may have otherwise obtained.

It may not pay to be picky during real estate transactions

When looking to buy a house, many New York residents often want to find the perfect place. As they first start out, they may find themselves being immensely picky over certain details, but if they continue on in this manner, they may find that their dreams of owning a home are taking longer to achieve than desired. Therefore, they may want to find ways to look on the bright side of certain issues and hopefully allow their real estate transactions to move forward more quickly.

For instance, some people may have issues with cosmetic aspects of a house. If a kitchen is outdated, many people may want to immediately walk away. True, remodeling an entire kitchen can be time-consuming and costly. However, outdated aspects of a home may result in a cheaper price overall, which could allow for some extra funds to redo the less-than-desirable cosmetic aspects.

Estate planning mistakes can lead to estate litigation

Estate planning is an important step for New York readers, no matter a person's income level or the value of his or her estate. When a person does not have the basic elements of an estate plan in place, such as a will, it can lead to complications. However, with a plan, problems can still arise and cause complications for the family.

Some of the most common reasons resulting in issues with an estate plan and estate litigation is due to mistakes made during planning. Even minor mistakes in a will or improperly drafted documents can make it difficult for a family to administer an estate and follow the instructions outlined in the will. Families or individuals facing potential estate litigation could find benefit in seeking experienced legal guidance from the very beginning.

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