A will is a very important document to have. If you die without a will, the State of New York will determine who administers your estate and to who your property will pass to. If you are married and have children, you might be surprised to know that without a will your property will not automatically go to your spouse.

Intestacy laws state that your spouse will receive the first $50,000.00 of your estate and the balance will be split between your spouse and your children. If your children are minors (under the age of 18), the court may determine who handles the affairs on behalf of your children.

If you have recently purchased a home, you should consult with an attorney to make sure your intentions will be carried out in the event of your passing.

If you are interested in a free consultation to discuss the preparation of your Last Will & Testament, please do not hesitate in emailing or contacting (718) 377-7798 to speak with Michael Reinhardt.

DISCLAIMER:

The use of the Internet or this forum for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this forum. This information is for general information only and should not be relied upon without consulting with an attorney.

In recent news, it has been reported that short sales made up 23.9 percent of home purchases as compared to foreclosures, which comprised of 19.7 percent of sales. These numbers from January 2012 were relatively higher than the numbers collected in 2011, which showed foreclosures to have the bulk percentage of transactions in comparison to short sales.

The reason for this change is a result of banks and government agencies taking the initiative to increase the likelihood for short sales to proceed to closings. It is known that foreclosures affect not only our economy, but also the families and communities in which the homes are located. The promptness of banks approving short sales and taking the initiative to make these sales a priority, will help families who are unable to keep their home proceed to a short sale closing and avoid a foreclosure proceeding.

If you should have any questions or would like more information regarding this topic, please do not hesitate in commenting this post or feel free to email or call (718) 377-7798 to speak with Michael Reinhardt.

DISCLAIMER:

The use of the Internet or this forum for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this forum. This information is for general information only and should not be relied upon without consulting with an attorney.