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New York is one of the most progressive and diverse states in the United States, giving people from all over the world career and educational opportunities. Foreign nationals set up bank accounts, invest in securities and even purchase real estate in New York, which...
Estate plans, like life, aren’t exactly static. Even after you create your will, you may need to update it regularly to make sure that it reflects your current situation and wishes. Here is when to update your will: Changes in assets If you sell an asset listed in...
A last will and testament should protect the interests of the heirs and beneficiaries of the testator. However, when the testator dies, they no longer have control of the estate administration process. They are not there to verify whether the estate administrator or...
The estate of an individual comprises all their assets and liabilities. When a person creates a last will and testament, they appoint an executor to manage the estate and distribute it to the designated beneficiaries according to their explicit instructions. However,...
Capital gains taxes can significantly impact your profits when selling real estate in New York. However, by employing savvy strategies and taking advantage of existing regulations, you can minimize your tax liability and retain a larger portion of your hard-earned...
Immigrant entrepreneurs continue to fly into the United States in pursuit of the American dream. Data shows that immigrant business owners have been able to significantly boost the economy by creating jobs for millions of people and generating over a trillion dollars...
Even after an estate owner dies, their debts and liabilities continue to exist. This is where probate and estate administration comes in. The state executor will pay the decedent’s liabilities before distributing the remaining assets to the heirs and beneficiaries....
There are many ways to make money off your commercial real estate investment. Some investors develop their property and earn revenue by renting it to businesses. Others buy a property and then sell it to companies and other investors at a higher price. When it comes...
Your will’s executor performs a vital function, so you need to choose whom you are appointing for this role carefully. Should you find a reason to change your executor later, you can do so in several ways. Why might you change your executor? After you pass away, the...
A breach in fiduciary duty would mean either the trustee has overstepped their authority and/or failed to act in the best interests of the beneficiaries. If there has been suspicious activity concerning the management of your trust, you may want to investigate the...