Step up in basis while gifting in 2012

In order to receive a step-up in basis upon your death, you will need to retain some form of control over the asset until instantaneously before...

You may file your Original Will with the surrogate court for the county in which you reside. The court is allowed to charge a fee for this...

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It is unclear to me how the house is actually titled. You mention a trust and a life estate. Are you personally named on the deed as a lifetime...

There are two types of assets, probate and non-probate. A Will only covers probate assets. Non-probate assets, by their very nature, already know...

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I want to setup LLCs for each rental property I own, and transfer the properties to the LLCs should I have one for each property

For maximum liability shield and safety, yes, having a separate LLC for each property would accomplish this. Realize, you will also need a set of...

In NY estates, there is a pecking order for payment of claims for creditors. First and foremost, you need to satisfy the funeral/burail charges...

My mom promised her home to my brother it was in the lawyers hands to be turned over she died,before this happened.

there is one other aspect that may be relevant even if mom did not sign a deed over to brother. If there is any form of a written contract or...

Am I better off refinancing our ex-marital jointly held home or paying it off in full?

There is really no simple answer to this question. From a strict financial perspective, depending on how much is still owed on the property (you...

Can my ira (roth or regular) be taken to pay for a real estate judgement against me

The answer is that it depends upon state law. Federal guidelines provide some protection for IRA account values, up to $1MM I believe, but states...

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For a freelance stylist in NYC what is best and quickest company to set up- an LLC or S co?

A corporation can be formed a bit quicker than an LLC, even as quickly as within 2 hours if you are willing to pay an expedited filing of $150 over...

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