Posted by on January 15, 2012
By Bradley S. Dornish, Esq.
A new year is a time for resolutions to open new businesses or to change the structure of the business you have for asset protection, tax benefits, privacy, retirement and/or estate planning purposes. But before you figure out the changes you want to make, you have to understand the basics about entities. First, what is an entity? It is a separate legal person designed to have an existence apart from you individually. An entity can enter into leases and other contracts, own real estate, sue and be sued in court, all without naming you individually. This is good for most businesses, but especially for real estate investing, where the public records like deeds and mortgages are abundant and easy to track. Click here to read more »
Posted by on November 13, 2011
By Bradley S. Dornish, Esq.
The quarterly PROA board meeting was held on the first Thursday of September. Our lobbyists from Pugliese Associates in Harrisburg reported on the status of almost a hundred different bills of interest to landlords and real estate investors which bills are working their way through House and senate committees. The subjects of these bills range from property assessments, to amending the Landlord Tenant Act, to amendments to the Construction Code Act. Click here to read more »
Posted by on August 14, 2011
By Charles C. Bell, Esquire and Bradley S. Dornish, Esquire
A number of individuals are considering the use of a Living Trust to “ensure privacy” of their affairs after death, and the belief that this effectuates a substantial savings in probate costs after death. Living Trusts are being publicly marketed as an estate planning tool that is a Will substitute. However, the advertised benefits of a Living Trust as a legal panacea for post-mortem estate privacy, and a major reduction in the cost of probate and fees for estate administration, are grossly exaggerated or non-existent. The purpose of this article is to explain the purpose of the Living Trust, examples of when the use of Living Trust as an estate planning device can be beneficial, but why this legal document does not accomplish the goals of privacy and significant estate administration cost reduction, and is not an effective Will substitute. Click here to read more »
Posted by on July 17, 2011
By Bradley S. Dornish and Jack P. Bock, III
As real estate lawyers, we run into questions involving bankruptcy of our landlord clients’ tenants, of our contractor clients’ customers, and of the owners of real estate our clients want to buy. In this series of articles, we will attempt to address some of the issues faced by those clients in each of those situations, and some of the peculiarities which come up when the state and federal laws involved don’t mesh well. Click here to read more »
Posted by on June 19, 2011
By Bradley S. Dornish and Jack P. Bock, III
As real estate lawyers, we run into questions involving bankruptcy of our landlord clients’ tenants, of our contractor clients’ customers, and of the owners of real estate our clients want to buy. In this series of articles, we will attempt to address some of the issues faced by those clients in each of those situations, and some of the peculiarities which come up when the state and federal laws involved don’t mesh well. Click here to read more »
