If you own a home, you likely are already aware of homeowners insurance and its importance in insuring your residence. However, what insurance, if any, should you have on a rental property? A standard homeowners insurance policy in most cases…
A reverse mortgage may benefit many people, but is it right for you? Factors to Consider Your desire for financial independence Your ability to remain in your own home for the rest of your lives Your need for supplemental income/improved…
In my experience, one of the biggest concerns for clients, especially seniors, is that they do not want to lose their home to long-term care costs. An Example Recently I met with Sal. He has two children and always thought…
A reverse mortgage is a mortgage loan, usually secured over residential real property, which enables the borrower to access the equity value of the property. Specifically, it is a financial agreement in which a homeowner relinquishes equity in their home…
There comes a time where a child or family member may need to have tough conversations with an aging parent or family member with regard to their driving and housing. While there is no clear scientific evidence that indicates how…
Just a few words on a deed may seem inconsequential, but where two or more individuals own title to real property, it is important to understand the multiple forms of ownership that are available, and unavailable, to property owners. Whether…
… My spouse died, and I am the surviving tenant by the entirety of our house? … My parent died, and I am the surviving joint tenant of our house? … I inherited a house from a relative and now…
A constant concern here on Long Island is the continued increase in Property Taxes and the ever-increasing cost of living. The application for state program real estate tax exemptions (such as Basic STAR, Enhanced STAR or Veterans exemptions) may help…
So you own your home and you think that it will be transferred to your family upon your passing without going to court. But is that really the case? What does all of this mean? A house that is owned…