Korsinsky & Klein LLPKorsinsky & Klein LLP2026-10-26T06:41:40Zhttps://www.kklawfirm.com/feed/atom/WordPress/wp-content/uploads/sites/1302650/2020/11/cropped-Korsinsky-klein-site-identity-32x32.jpgOn Behalf of Korsinsky & Klein LLP<![CDATA[What landlords should know about disclosures before selling]]>https://www.kklawfirm.com/?p=532752026-10-26T06:41:40Z2026-10-26T06:41:40ZProperty condition and structural disclosures
New York law requires some sellers to provide a Property Condition Disclosure Statement. This law generally covers residential properties with one to four family dwellings, subject to certain exceptions. It does not apply in the same way to every rental building, condominium or co-op.
The statement addresses known issues with the property, such as water damage and structural problems. Federal law also requires sellers of most homes built before 1978 to disclose known lead-based paint hazards and share available records. Sellers do not have to test for lead under this rule alone.
Failing to meet an applicable disclosure duty can lead to legal disputes. The outcome depends on the facts, the seller's obligations and the remedies available under the law.
Tenant occupancy and lease information
Buyers need clear details about current tenants and their rights. Sellers should gather copies of active leases, security deposit records and information about pending housing court cases. Records showing whether units are rent-stabilized or rent-controlled can also help buyers assess the property.
These records help buyers understand their duties as future landlords. The exact documents a seller must provide depend on the law and the terms of the sale. Missing records may delay closing or lead to disputes after the transfer.
Violations and outstanding legal matters
Before listing a property, Brooklyn landlords should check for open violations from city agencies. These may include notices from the Department of Buildings or the Department of Housing Preservation and Development. Sellers should also review liens and pending legal cases tied to the property.
These issues may affect the sale, financing or insurance. Reviewing them early helps buyers assess potential costs and reduces the risk of delays.
Preparing for a property sale
Clear records can help prevent disputes and keep a property sale on track. However, not every record or property issue creates the same legal duty to disclose. A real estate lawyer familiar with New York law can explain which rules apply to your property and help you prepare for closing.]]>On Behalf of Korsinsky & Klein LLP<![CDATA[Can you buy a New York property with existing tenants?]]>https://www.kklawfirm.com/?p=532712026-10-14T14:40:20Z2026-10-14T14:33:41ZWhat happens to existing leases after the purchase?
When you purchase an occupied property, you generally assume the landlord's obligations under existing leases. However, your responsibilities may extend beyond their expiration dates.
State law also limits what landlords can do. Under the Housing Stability and Tenant Protection Act of 2019, most rent-stabilized units cannot lose that status just because a tenant moves out or the rent rises. Rent stabilization limits rent increases and generally gives tenants the right to renew their leases.
New York's Good Cause Eviction Law also protects some tenants who pay market rent. For covered homes, landlords generally need a valid reason to refuse lease renewals. Tenants can also challenge certain large rent increases. The law exempts some properties, including those owned by small landlords and many condos and co-ops.
What should you verify before closing?
Reviewing tenant records can help you identify financial obligations and restrictions that may affect your investment. Important items include:
Existing leases: Review rent amounts, expiration dates and renewal terms.
Rent history: Check available records for rent stabilization issues or past overcharges.
Security deposits: Confirm how much the seller holds and whether the funds will transfer. You may have to return deposits even if the seller fails to transfer them, depending on the records and notice requirements.
Outstanding rent: Identify unpaid rent and pending tenant disputes.
Any problems found during this review may affect the purchase price or the terms you negotiate with the seller.
How can tenant protections affect your investment?
New York landlords generally must give 30, 60 or 90 days' written notice if they plan to end certain residential tenancies or raise rent by 5% or more. The deadline depends on how long the tenant has lived there or the lease term. These rules may limit how soon you can raise rents or change your plans for the property.
Know what you are purchasing before closing
Tenant obligations can affect more than your rental income. They may also influence the property's value and your future plans for it. Before finalizing the purchase, a real estate attorney can help identify lease restrictions, review potential liabilities and negotiate terms in the purchase agreement to address these risks.]]>On Behalf of Korsinsky & Klein LLP<![CDATA[Why your estate plan can fail if you forget to fund your trust]]>https://www.kklawfirm.com/?p=532692026-10-13T10:36:53Z2026-10-13T10:36:53ZWhy is creating a trust only the first step?
Signing a trust creates a legal framework for managing property. You generally must transfer property to a living trust or otherwise make it subject to the trust before the trustee can manage it under the trust terms.
If you never transfer or coordinate assets you want the trust to hold, the trust may not govern them as intended. Important parts of your estate could remain outside the plan.
What does it mean to fund a trust?
Funding means transferring or coordinating assets so the trust can govern them. The process varies by asset and state. Real estate may require a new deed or other transfer document recorded with the appropriate local recording office. Bank and investment accounts generally require updated ownership records under the financial institution's procedures.
Life insurance and retirement accounts generally use beneficiary designations rather than ownership transfers. Coordinate those designations with the overall estate plan.
What happens if assets stay outside the trust?
Assets that remain in your name may need to go through probate when no other transfer mechanism applies. A valid beneficiary designation or qualifying joint ownership arrangement can sometimes provide an alternative. Probate timing varies by state, estate complexity and whether disputes arise.
In New York, the Surrogate's Court handles probate proceedings. These proceedings generally become part of the public court record, although the amount of information available publicly can vary.
A pour-over will can direct eligible assets left outside the trust into it after death. However, those assets may still need to go through probate before they can be transferred to the trust. This can complicate administration and cause delays or additional expenses when assets follow different processes.
Beneficiary designations for insurance and retirement accounts
If the paperwork does not match your intentions, address the gaps promptly. If you have questions about trust funding or your estate plan in Brooklyn or elsewhere in New York, an estate planning attorney can help coordinate the trust with your property titles, account registrations and beneficiary designations.]]>On Behalf of Korsinsky & Klein LLP<![CDATA[How can New York’s CDPAP help your family’s caregiving needs?]]>https://www.kklawfirm.com/?p=532662026-09-30T07:30:54Z2026-09-30T07:30:54ZHow do your parents qualify for the program as New York residents?
Your parents generally qualify if they maintain active Medicaid coverage and are capable of directing their own care. Additionally, they should demonstrate a clinical need for help with activities such as bathing, dressing or meal preparation.
Initial clinical assessments for CDPAP eligibility are conducted through the New York Independent Assessor (NYIA) system, after which the local social services district or Managed Long-Term Care (MLTC) plan determines the authorized plan of care and covered hours.
How PPL Manages Your CDPAP Administration
Every CDPAP participant relies on a fiscal intermediary to manage their personal assistant's payroll, taxes, and insurance. Starting April 1, 2025, New York transitioned all of these administrative services to a single, statewide vendor: Public Partnerships LLC (PPL). Caregivers must use PPL’s Time4Care app to submit timesheets and receive their paychecks. Additionally, all assistants are required to complete Electronic Visit Verification (EVV) training within the app before they begin working.
Importantly, this transition to PPL does not affect program eligibility, your approved care hours, or the qualifications required for personal assistants. You still retain complete control over choosing your caregiver.
What are the benefits of hiring family members?
You can hire certain family members or trusted friends as paid caregivers rather than using an agency through this program. This choice often reduces your stress by avoiding strangers in a private home where you value personal space, allowing you to:
Keep your existing personal bonds and trust
Provide care that matches your family's cultural background and language preferences
Use your shared history to improve comfort
Adjust care schedules to fit your family's daily routine
This approach helps your parents maintain their routines while receiving care in a familiar setting. However, the spouse of the beneficiary is prohibited from assuming the role of caregiver under CDPAP.
How an attorney can help
You can secure the right care for your parents by understanding complex state programs and planning for medical needs. Your proactive planning helps your family maintain control over medical decisions while you protect their independence. You can speak with an attorney to clarify your legal options during this family transition.]]>by Korsinsky & Klein LLP<![CDATA[Can Medicaid cost you your home? New York rules on home protection]]>https://www.kklawfirm.com/?p=532242026-09-16T11:32:20Z2026-09-11T11:46:11ZYour home may be protected by Medicaid
You may not have to give up your home to qualify for Medicaid. In New York, the home you live in may qualify as an exempt asset, depending on your circumstances.
Because your home may be one of your most valuable assets, knowing the rules before long-term care becomes necessary can help you make informed decisions.
Your home may remain exempt from Medicaid resource counting if:
You plan to return to the home and provide a written statement confirming your intention to do so.
Your spouse continues to live at the house.
Anyone under 21 or a blind or a permanently specialy abled minor, lives at home.
Sibling who owns part of the home has lived there for one year or more before you entered the nursing facility.
Your child lived there two years or more before you entered a nursing facility and cared for you in a way that delayed your need for nursing home care.
Knowing where your home stands under Medicaid rules can help you protect your interests while preparing for future care.
A Medicaid Asset Protection Trust can help
Certain assets may receive protection through a Medicaid Asset Protection Trust as part of planning for future care.
For nursing home Medicaid, New York reviews transfers made within 60 months before applying. These transfers may trigger a value-based penalty, while Community Medicaid may use a different lookback period.
Medicaid estate recovery and your home
Although Medicaid may exempt your home while you receive benefits, New York may seek repayment from your estate after your death. Estate recovery generally applies to probate assets, with exceptions for certain family members. A Medicaid Asset Protection Trust (MAPT) may help limit estate recovery, making proper timing important.
The right choices for your future
Medicaid rules can be complex, but thoughtful planning can make them easier to navigate. Considering your options early can provide peace of mind as you prepare for future care and make decisions that support your family’s future.]]>On Behalf of Korsinsky & Klein LLP<![CDATA[What commercial tenants should verify before signing a lease]]>https://www.kklawfirm.com/?p=532192026-08-28T10:05:52Z2026-08-28T10:05:52ZConfirm zoning compliance for your business
Brooklyn zoning rules control what kinds of business activities are allowed in a commercial space. Before signing a lease, tenants should confirm that their planned use is allowed under the property’s zoning designation and any local rules. A lease that lets you move in does not mean your business use will comply with zoning.
Landlords do not always guarantee that a space fits your specific use. Confirm zoning requirements before committing to the lease
Review maintenance and repair duties
Some commercial leases shift maintenance duties to tenants through triple net or modified gross structures. These leases may require tenants to pay some or all property taxes, insurance and repair costs, depending on the lease.
The lease should clearly say which party handles structural repairs, HVAC systems and common area maintenance. Unclear repair terms often lead to disputes. Ask for written clarification before signing if anything is not clear.
Examine renewal and termination terms
Renewal options and termination clauses can affect long-term business planning. Key terms to verify include:
Notice periods for renewal or termination
Rent increase formulas for renewal terms
Conditions for early lease termination
Assignment and subletting limits
Some commercial leases also include personal guarantees, which can make business owners personally liable. Personal guarantees may remain enforceable even if the business closes or dissolves. The guarantee’s language usually controls the scope of the guarantor’s personal liability and any limits or release conditions.
What to do before signing a commercial lease
A careful lease review can help a business avoid disputes and financial risk. If you are unsure about any lease term, it may be worth having an attorney review the document before you sign.]]>On Behalf of Korsinsky & Klein LLP<![CDATA[Can your parents protect their savings while getting Medicaid?]]>https://www.kklawfirm.com/?p=532182026-08-07T14:54:08Z2026-08-07T14:53:44ZMedicaid protections for parents’ assets
New York has some of the most protective spousal Medicaid laws in the country. If the parents need long-term care, the healthy spouse doesn’t have to be left financially strained. Here is how Medicaid protects your parents’ nest egg:
Safe family home: As long as one parent resides in the primary residence, Medicaid won’t force them to sell it. Retirement accounts taking active monthly distributions and one primary family vehicle are also protected.
The “spousal refusal” advantage: If your parents have liquid assets above the standard limit, the state law allows the healthy parent to execute a formal spousal refusal. By placing the excess assets in the healthy parent’s name, Medicaid may evaluate the ill parent's eligibility separately.
Monthly income protection: The healthy parent is entitled to keep up to $4,066.50 per month in income under the Minimum Monthly Maintenance Needs Allowance (MMMNA) to cover their living costs.
Asset retention: Under New York's spousal impoverishment rules, the healthy spouse living in the community can retain up to $162,660 in assets without risking the ill parent’s’ coverage.
Because nursing home Medicaid carries a five-year look-back window on asset transfers, early strategy is crucial. Structuring assets correctly requires careful legal guidance to avoid unintentional delays or penalties.
Taking early action
Protecting your parents' life savings while securing the long-term care they need doesn’t have to be a trade-off. If you are navigating the process, consulting with an experienced elder law attorney could help guide your family toward securing necessary care while looking out for your parents’ finances.]]>On Behalf of Korsinsky & Klein LLP<![CDATA[5 due diligence mistakes that delay luxury home deals]]>https://www.kklawfirm.com/?p=532172026-08-06T14:00:21Z2026-08-06T14:00:21ZBuying a luxury property in New York City takes patience and sharp attention to detail. However, many buyers rush through due diligence and pay for it later with delays, disputes or dead deals. Here are the mistakes that trip up even experienced buyers.
Skipping the title search
A clean title matters more in New York than almost anywhere else. Old liens, unresolved estate claims and boundary disputes can surface late in the process and stall a closing for weeks. Buyers who trust a quick summary instead of the full record often miss the detail that causes the trouble.
Ignoring building financials
Co-ops and condos both carry hidden risks in their financial statements. Buyers who skip this step miss warning signs like thin reserve funds, pending litigation or planned assessments. Request the last three years of financials and board meeting minutes, then read them closely.
Underestimating the co-op board process
Co-op boards in New York hold real power over a sale. They can reject buyers without giving a reason, and they often demand extensive financial documentation. Prepare your package early, gather your bank statements and tax returns in advance, and expect the interview to take real time.
Overlooking service and maintenance agreements
Many luxury buildings run on long-term contracts for staff, maintenance and amenities. These agreements can lock in costs or restrictions that outlast your purchase. Ask for copies of every active contract and check for unusual terms before you commit.
Delaying the attorney review
New York deals move through attorneys, not just agents, and this step protects you legally. Buyers who wait too long to bring in counsel often discover problems only after they submit an offer. Hire a real estate attorney who knows luxury transactions from day one, not after you find a home you love.
Move forward with confidence
Luxury real estate in New York rewards buyers who plan ahead. Build your team early, ask hard questions and read every document your attorney flags. The extra weeks you spend now can save you months of frustration later.]]>On Behalf of Korsinsky & Klein LLP<![CDATA[How beneficiary designations can override your will in New York]]>https://www.kklawfirm.com/?p=532142026-07-22T12:05:46Z2026-07-22T12:05:46ZBeneficiary forms usually control
A beneficiary designation is a legal instruction you complete with the financial institution that holds the account. When you pass away, the institution generally distributes the assets according to that designation. Under New York Estates, Powers and Trusts Law, assets with valid beneficiary designations generally pass outside the probate process.
This means an outdated designation could leave assets to someone you no longer intend to benefit. Because of that, it helps to review these forms after major life events.
Life changes can create unexpected problems
While marriage, the birth of a child, or the death of a beneficiary require manual updates to your beneficiary forms, New York law automatically revokes most revocable beneficiary designations to an ex-spouse upon a final divorce. If the beneficiary designation and the will conflict, the financial institution will often follow the beneficiary designation instead.
For retirement accounts, federal law may also affect who can receive benefits in certain situations. These rules can work alongside state law and influence how assets transfer.
Review your estate plan as a whole
A complete estate plan works best when every document supports the same goals. Your will, trusts and beneficiary designations should reflect your current wishes and work together. Reviewing these documents after significant life changes can help reduce confusion for your family and support a smoother transfer of assets under the New York Surrogate's Court Procedure Act when probate is required, and help you avoid conflicts and ensure your assets reach the right people.
An effective estate plan changes as your life does. Because beneficiary forms often override your will, it is important to keep all your documents aligned. If you have questions about how these designations interact with your specific estate plan, you may consider reaching out to a legal professional for guidance.]]>On Behalf of Korsinsky & Klein LLP<![CDATA[What if your parents have too many assets for Medicaid?]]>https://www.kklawfirm.com/?p=531972026-07-17T03:30:08Z2026-07-16T15:52:08ZSeveral planning methods could support eligibility
Having substantial assets does not always put Medicaid out of reach. The best approach often depends on what your parents own, how soon they need care and whether a spouse will remain at home. Common steps include:
Review which assets count. Medicaid may not include every type of property in its calculation. A primary residence often remains exempt from the equity limit. Who lives there and other eligibility rules can affect that treatment. Personal belongings and certain burial funds may also remain exempt.
Pay legitimate expenses. Your parents may use excess funds to pay debts, repair the home or buy medical equipment. These payments should provide fair value and meet an actual need.
Understand spousal protections. When one spouse needs long-term care, the spouse at home may retain part of the couple’s income and resources. In New York, that spouse may also request an assessment of the couple’s countable resources before applying for nursing home Medicaid.
Consider an irrevocable trust. A properly prepared trust may keep certain property outside the Medicaid resource limit. Its terms, funding date and transfer rules can still affect eligibility.
Avoid improper transfers. A gift or sale below fair market value may cause a period of ineligibility for nursing home coverage. Medicaid generally reviews transfers made during the 60 months before the applicant enters a facility and applies for benefits.
These methods have different timing and recordkeeping rules. Families should review the likely result before spending funds or changing ownership.
Planning early often creates more choices
Timing can affect which methods remain available. Trusts, transfers and other financial changes may need careful coordination before a parent enters a nursing home. An attorney can review your family’s finances, explain Medicaid standards and identify lawful ways to avoid penalties.]]>