Estate planning important for New Yorkers who own Florida property – Buffalo Business First

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Preparing for end of life is a scary and emotional time. Providing for your loved ones and knowing where your possessions will go is something everyone wants to ensure. Read our definitive New York Estate Planning Guide for insights into estate planning, will & probate process by our Buffalo Estate Planning Lawyer.

The first case is where a person owns property in a number of states. So if you own your main house in New York, a vacation home in Cape Cod and, a condominium in Florida, your will would first have to be admitted to probate in one state, and then submitted for what is known as an "ancillary probate" in the other two states.

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Buffalo estate planning attorneys "Estate" is the legal term used to define your property and money-basically, everything that belongs to you. Estate planning attorneys tell you different strategies you can use to transfer your belongings after you die.

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Experienced Estate Planning Lawyers Providing the Highest Level of Elder Law Representation Throughout Western New York. Most Buffalo residents need estate planning for the management and preservation of your assets. Estate planning can reduce or eliminate estate and gift taxes as well as eliminate probate and estate administration expenses. It is extremely important to have a team of Buffalo estate planning attorneys working with you.

In 2001, Halstead was acquired by Terra Holdings, which is owned by legendary icons in the real estate business like David A. Burris, Kent M. Swig, Arthur W. Zeckendorf and William Lie Zeckendorf.

Similarly to many locations through New York State, it is currently relatively inexpensive to purchase Buffalo Real Estate. Statistics indicate that, on average, as of March 2010, Buffalo property was selling for around $70,000. Large homes can range significantly in price.

Why This NYC Apartment Costs $28.5 Million Even fewer people probably know what property may pass through a will. And these are just some of the most basic estate planning issues that New Yorkers may encounter. Although the process can be complicated, New Yorkers should plan for what will happen to their property and assets.

From Business: Block, Colucci, Spellman & Peller is a full-service law firm that provides real estate and foreclosure services throughout the state of New York. The firm has a s. Add to mybook Remove from mybook