Can you sell a house that's under probate on Long Island

Can you sell a house that’s in probate on Long Island NY?

If you inherited a house on Long Island and it’s in probate, can you sell it? Yes, you can sell a house on Long Island that’s under probate, provided that you follow the process outlined below (as well as follow any instructions laid out in the Will).  Selling an inherited property during the Probate process … Continued

How does the new tax law impact an inherited estate? Long Island NY

How does the new tax law impact an inherited estate?

Do you need to pay inheritance taxes for an estate in New York?  And, what’s changed with the new tax laws? The new tax law actually has very little impact on the majority of Americans.  Previously, in 2017, the first $5.49 million of the estate (per person) was exempt from FEDERAL inheritance taxes.  Now in … Continued

How to handle debt when someone dies. Are you responsible?

How to handle debt when someone dies

How do you manage debt if a parent or spouse dies?  Are you liable for their debt? There is no one size fits all answer for this question as it can vary based on the type of debt, state you live in, financial assets of the deceased and whether or not you are a joint … Continued

what should you do if you inherit a house you can't afford - Long Island

What to do when you inherit a house you can’t afford

Solutions for an inherited home that you can’t afford to keep When you inherit a house, it’s a big responsibility.  For some, the house is a helpful asset – either as a place to live or rent out…or to sell so that you can acquire cash assets to settle an estate.  But, sometimes, the house … Continued