Apfelbaum Martinez Law

Author: Apfelbaum Martinez Law

  • 5 Mistakes to Avoid During a Divorce

    5 Mistakes to Avoid During a Divorce

    Dealing with the dissolution of a marriage is challenging enough, but your situation can be made worse with missteps that could be completely avoidable.

    Due to the mental and emotional strain of divorce, often people make mistakes that affect them both during and after the divorce.

    Avoid These Mistakes During a Divorce

    Here are of the more common mistakes that can be trip hazards.

    If you intend to dissolve your marriage or are currently in the middle of a divorce, this information may help you make the necessary adjustments to avoid them for your particular situation.

    Divorce Mistake #1: Choosing the Wrong Divorce Lawyer

    It is imperative to carefully select a divorce lawyer who can provide the best legal representation in order to ensure your rights and interests are properly protected.

    In choosing the right lawyer, consider their experience, especially with contested divorces or complex cases involving division of marital property or child custody.

    A skilled divorce lawyer will help you navigate the process and communicate all your options. Therefore, ensure that the individual you choose demonstrates strong communication skills and is willing to answer questions or concerns efficiently.

    Divorce Mistake #2: Being Less Than Honest

    Being dishonest or withholding information concerning assets is one of the worst things you can do to potentially harm your divorce case.

    Not only will you likely lose ground in your divorce case, but it may also directly impact the rulings on child custody and property division.

    To avoid this mistake, be certain to share full, complete and accurate information to your lawyer and the court at all times, including but not limited to when giving testimony, filling out legal documents, and signing affidavits.

    Divorce Mistake #3: Involving Children in the Conflict

    In most cases, children gain from having a relationship with both parents, unless there is a safety issue. Children who are asked to choose sides or who are thrust into the middle of adult dynamics, as so-called bargaining chips in a divorce, suffer in more ways than one. Instead, attempt to shield children from the inner workings of the divorce and allow them to stay on good terms with both you and your ex-spouse. Never badmouth a child’s parent to them.

    Divorce Mistake #4: Misunderstanding Temporary Orders

    The employment of a Temporary Order is one way a Judge’s authority is utilized in the midst of a divorce for particular circumstances in which an issue or issues can be dealt with temporarily while a case is still pending.

    Sometimes referred to as a Temporary Order, this can be the most suitable and required remedy for a divorcing spouse’s immediate needs or concerns, which cannot wait until the divorce process is over.

    Any interim order that is issued must be understood in order for you to know what is required of you. Temporary orders are court orders and not following one can have serious repercussions. If at any point, you do not understand a court order, consult with your legal counsel for clarity to ensure you are able to fully comply.

    Divorce Mistake #5: Signing Documents or Making Agreements Without Representation

    Signing documents during a divorce can have serious and long-lasting implications. Avoid this common mistake and consult with an experienced lawyer before entering into any formal agreement.

    Divorce proceedings often involve complicated financial arrangements, the division of marital assets, the determination of child timesharing, support amounts, alimony  and more. A qualified family law attorney can provide counsel on matters such as these, assisting in crafting agreements that are fair to both parties in the eyes of the court. Don’t try to make agreements on your own.

    Read all paperwork carefully and distinguish between the items that are being requested and the items that have been ordered. Signing a document without consulting an attorney may result in one party being taken advantage of or waiving rights he or she was entitled to receive. Make sure your attorney answers all of your questions before you sign.

    Navigating Divorce

    The road to divorce can be challenging as you go through the proverbial roller coaster of emotions and navigate all of the changes you now face.

    At Apfelbaum Law, we are dedicated to providing our clients with the highest level of service using our extensive knowledge, expertise, and compassion for their unique situations. Our attorneys have decades of experience negotiating equitable divorce settlements and fighting vigorously on behalf of our client’s rights. If you are considering divorce, contact us today to speak with one of our experienced divorce lawyers and learn how we can help secure your future.

  • 5 Tips to Make Your Divorce as Manageable as Possible

    5 Tips to Make Your Divorce as Manageable as Possible

    Divorce is never simple, and whatever the length of your marriage, getting divorced can be demanding on both your emotional and financial resources. If you’re unprepared or uninformed, it could be even more challenging.

    It is important to understand the specific laws of the state in which you reside and to seek qualified legal professionals with experience in divorce cases that can advise you. Obtaining accurate information on all matters related to divorce, such as parental rights and responsibilities, spousal support, division of assets and liabilities, and protection orders is essential in obtaining a fair resolution.

    Seeking counsel from an attorney who specializes in family law, such as our qualified team at Apfelbaum Law, will help ensure your rights are properly accounted for throughout the difficult process.

    5 Tips for a Manageable Divorce

    Here, we are sharing five tips as an initial guide to making divorce as manageable as possible.

    #1 Choose the Right Lawyer

    When considering how to choose the right divorce lawyer, it is important to take into account a variety of factors. Research each potential lawyer’s areas of expertise and experience in handling these kinds of cases. Ask questions about their ability to handle difficult negotiations, manage joint property division, and any court appearances needed throughout the process. Make sure the lawyer you are speaking to knows the facts of your case and the things that are important to you, and that your questions about the process are fully answered.

    During the initial consultation, pay attention to the lawyer’s style and methods of communication. Make sure it is a good fit for you and your case.

    The right lawyer will act both as your advocate in court and with your spouse’s lawyer, and as a sounding board and resource for you, making sure you have all the information and advice you need to make good decisions about how to proceed in your case.

    Find an attorney who will fight for what you want and will be upfront with you as to what can be and what is likely to be achieved. You need accurate objective advice to make the best decisions during what is sure to be an emotional time for you and your family.

    #2 Make a Plan

    It is important to create a list of what you need and want as a part of the divorce, and make sure your lawyer is aware of these things which will likely change throughout the process.

    While working with your divorce lawyer, ensure you’ve collected the information and documentation for your financial affairs so that all the information required is available. Florida law has specific requirements about the required documents. You should also locate and examine any existing legal documents, such as prenuptial agreements or wills, and have those prepared to share with your lawyer.

    #3 Make Plans for Your Children

    Most divorces follow the same fundamental procedures, but when children are involved, additional considerations and decisions are necessary. If you have children, think through your wishes and your desired living arrangements, timesharing, child support needs, and how each parent will be involved in important decisions for the child(ren). Florida terms this “parental responsibility,” and it is different from who a child lives with. There will also be a required form called a “Parenting Plan” that your lawyer will discuss with you.

    #4 Get Support

    Create a support system of friends and family that will be there for you throughout the process. Choose trustworthy people that will help you stay positive and who will create an environment of support as you work through the challenges that divorce will bring.

    #5 Stay Focused

    Be prepared to compromise and be flexible. Remember that both you and your spouse have fifty percent of the ability to influence the process. Neither one of you can force the other to do or not do anything in the divorce. The divorce process is not a forum to punish or “get” your spouse for perceived wrongs, no matter how much you may feel they deserve such treatment.

    Family Law is One of Our Specialties

    At Apfelbaum Law, we strive to provide our clients with the highest level of service and qualified legal advice. Our experienced team of family law attorneys is well versed in all aspects of family law, including divorce, child support, adoption and custody agreements, alimony and spousal support, prenuptial agreements, guardianship, and more.

    In addition to providing personalized representation, we take pride in helping individuals and families achieve their desired goals through the most effective legal strategies available. We believe it is important to equip our clients with knowledge that enables them to make informed decisions. If you have any questions related to family law in Florida or have questions about other legal issues, please contact us today for a consultation.

  • 4 Important Things to Do to Avoid Probate

    4 Important Things to Do to Avoid Probate

    In order to pass a deceased person’s assets to beneficiaries in Florida, a process known as probate is typically required. The process of probate can take months to finish and entails both financial and emotional burdens.

    How to Avoid Probate

    The average person may mistakenly believe that having a will keeps their loved ones from having to go through the probate process. Unfortunately, that is not the case. However, the process may be avoided by taking a few important steps.

    Each strategy highlighted below can be used in varying combinations to maximize coverage and minimize the time and money your loved ones will spend in probate. Because of the complexities involved, it’s best to enlist the help of a lawyer before making any decisions.

    #1 Write a Living Trust

    One way to avoid probate is to simply create a living trust. A trust enables you to put your assets and property “in trust” while you’re still living so they won’t need to be distributed after your death. When juxtaposed with a will, the primary difference is that a will distributes your assets after your death.

    Your trust is managed by a trustee for the benefit of your beneficiaries. With this step, you can totally avoid probate because the property and assets have already been transferred to the trust.

    #2 Give Gifts Directly to Beneficiaries

    Giving your assets as gifts to your beneficiaries while you are still alive is one of the simpler ways to avoid probate. Doing so has many advantages, particularly with regard to taxes. In addition to potentially lowering the federal estate tax burden, if the asset being transferred has a value of less than $16,000, there is also no requirement to submit a gift tax return (the value of the gift tax exclusion changes).

    #3 Consider a Joint Tenancy

    Another option for those who are preparing their estates with probate in mind is joint tenancy with a right of survivorship. A joint tenancy is when two or more people jointly own a piece of property. After either joint owner dies, the legal title passes to the surviving owner automatically and won’t be subject to probate.

    #4 Establish Beneficiary Accounts

    Financial accounts allow the owner to designate one or more beneficiaries who will take over the account once the original owner passes away. In other words, the initial owner specifies who will be the account’s beneficiary following their passing. The decedent’s probate estate does not include any accounts that transfer in this manner after death.

    Do You Need a Probate Lawyer?

    A Florida probate lawyer can help you make sure everything is prepared the way you want for your estate.

    The attorneys at Apfelbaum Law can help you through the probate process and assist in probate decisions or disputes. Contact us for a consultation if you need assistance or have questions about any potential legal matter.

  • The 4 Components of Estate Planning

    The 4 Components of Estate Planning

    Everyone should have a plan in place for their estate, but your particular situation will determine exactly which components are needed to ensure that your estate will be handled in accordance with your wishes. The estate planning process can seem daunting and possibly confusing. There is a lot to consider, and the decisions involved in estate planning are important.

    What is Estate Planning?

    The process of estate planning involves establishing who will receive your assets in the event of your death or incapacitation.

    Often designed with guidance from an attorney, an estate plan ensures heirs and beneficiaries receive assets in a way that manages and minimizes estate taxes, gift taxes, and other tax impacts.

    4 Components of Estate Planning

    Here are the four fundamental components of a successful estate plan.

    #1 Will

    Whether you are affluent or have limited means, a will or trust is an essential component of any estate strategy.

    A will is a legally enforceable declaration that specifies who will inherit your possessions after your passing. If you have a will or a trust in place, your estate, which is all of your goods and assets, will be dispersed in accordance with your wishes after your passing.

    Any children you have who are under the age of 18 at the time of your passing can also have a guardian named in your will.

    #2 Trust

    In a trust, one individual, or an organization, such as a bank or law firm, is known as the “trustee.” The trustee maintains legal title to property for another person, known as the “beneficiary.”

    You can designate portions of your estate to go toward certain things while you’re still alive using a revocable living trust. Your chosen successor trustee will be able to take over if you become ill or incapacitated.

    Another option is to create an irrevocable trust, which the creator cannot alter or revoke.

    There are many possible justifications for creating a trust, but perhaps one of the most important is to avoid probate. If you create a revocable living trust, any assets in the trust may pass to your beneficiaries immediately upon your death saving time and money by avoiding the probate process which would otherwise be used to disperse your assets.

    #3 Power of Attorney

    A durable power of attorney enables you to designate a dependable person to manage your financial and legal affairs in the event that you become temporarily or permanently unable to do so. If you ever lose the ability to make financial decisions for yourself, it is the responsibility of this person to act on your behalf.

    The selected power of attorney will be responsible for organizing your financial matters for you and would intervene as necessary. Without a durable power of attorney in place, the court will have to act on your behalf to appoint someone to represent you.

    #4 Medical Directive

    A living will, durable power of attorney for healthcare, health care proxy, and medical directions are just a few examples of legal documents that might be included in a medical directive. The specific legal documents included will be chosen based on your selections and the rules of your jurisdiction.

    In the event that you are unable to make medical choices for yourself, a durable power of attorney for health care decisions, sometimes referred to as a health care proxy, appoints a person to act on your behalf.

    We Can Help Secure Your Estate Plan

    By putting all these components in place, you can secure your estate and continue to support your family after you pass away. If you need assistance with estate planning or have questions about any potential legal matter, please contact Apfelbaum Law for a consultation.

  • 2023 Business Planning: Everything You Need to Know to Protect Your Company

    2023 Business Planning: Everything You Need to Know to Protect Your Company

    Starting a business can be an exciting and rewarding experience, but it also comes with a unique set of challenges and risks. You are undoubtedly well aware, as a business owner, that your organization needs business planning and legal protection, but are you familiar with the specific areas that you should focus on when it comes to protecting your company?

    Business Planning: How to Legally Protect Your Business in 2023

    One of the most important things you can do to protect your company and set it up for success is to work with a business law attorney. They can provide valuable support and representation in the event of a legal dispute or other legal issue, as well as help you navigate the legal challenges that may arise as your business grows and evolves.

    To get you started, here are some important things you need to know to protect your business in the new year.

    #1 Become Familiar with the Laws Applicable to Your Industry

    It may seem simple, but an important step to protecting your business is to be aware of any applicable laws that may apply to the operations and activities you will engage in day-to-day operations.

    It would also be wise to engage with a lawyer who focuses on the legal matters that are most pertinent to your specific industry or line of work. There will always be questions and some risks associated with operating a business, but you can minimize these risks by being proactive by hiring an experienced legal advisor to assist you.

    #2 Understand Your Business Obligations

    Make sure you comprehend the legal responsibilities that your business has. It’s essential to obtain legal counsel if you’re unsure of what these requirements might be for your specific business. Additionally, be sure that your staff members are aware of their responsibilities and roles as they pertain to potential legal ramifications for your company.

    #3 Get Everything in Writing

    You’ve probably heard it before, but we cannot overstate the importance of recording everything in writing. Use legally enforceable written documents, such as contracts and agreements, whenever possible. Having documentation provides protection since it is legally obligatory of all named parties to abide by the terms and conditions of the agreement or contract.

    Make sure that you read every document carefully before signing it to make sure you agree to all clauses. It is strongly recommended that you have a business law attorney review all contracts and documentation before you sign anything pertaining to your business.

    #4 Use a Commercial Insurance Provider for Your Business Operations

    Consider getting commercial insurance once you start your business. This includes any type of commercial operation that deals with real estate properties, employees, suppliers, or customers.

    Business insurance can help in the event that your business encounters any issues, such as a dispute with another company that results in legal action against your organization.

    #5 Take Precautions for Intellectual Property

    You must safeguard your company’s intellectual property in addition to its tangible assets. Things like patents, copyrights, trademarks, and trade secrets fall under the category of intellectual property.

    It’s crucial to become familiar with the categories of intellectual property in order to understand the differences and the requirements for each. This will not only help protect your own intellectual property but will also prevent you from violations that could lead to legal action against you.

    #6 Have a Tax Advisor by your Side

    While it is important to have a business lawyer, it is equally important to have an accountant by your side as well.  A CPA is valuable and a great resource for any type of business.

    Avoid Legal Errors in Your Business with Proper Business Planning

    Working with a business law attorney can be a valuable investment in the success and protection of your company. Make sure your business is protected in 2023 by contacting Apfelbaum Law for a confidential consultation.

  • 5 Steps to Avoid Business Litigation

    5 Steps to Avoid Business Litigation

    To enforce or defend a certain legal right, one party may be sued. This procedure is known as litigation. The circumstances surrounding litigation frequently depend on the logic behind the claim and the complexity of the specifics, but business litigation can frequently become time-consuming, expensive, and difficult.

    While sometimes necessary, litigation can have many drawbacks as well as cause an unwanted distraction for a business. Most people would likely agree that it is best to avoid litigation wherever possible, but that’s often easier said than done.

    How to Avoid Litigation

    Here are five steps to take when trying to avoid litigation.

    #1 Seek the Proper Legal Guidance

    Determine the relevant legal issues first. Then, choose an attorney who has the appropriate experience, is familiar with your circumstances, industry, and type of business and/or situation. An experienced lawyer can provide essential insights into how to handle the issue while also assisting you with planning and preparation.

    #2 Avoid Signing Anything You Have Not Read

    This kind of advice has probably been given to you before, but it is worth repeating, especially in business. The general rule is that paying an attorney on the front end to help you decipher documents will generally be less expensive than paying an attorney after things have gone awry because you failed to read all the terms.

    Consider hiring an attorney to assist you with all important contracts before you agree to anything verbally or in writing.

    #3 Confirm Agreements in Writing

    A written agreement should specify the conditions of any business relationship, including what happens at its termination. This rule applies to all contracts with clients, suppliers, shareholders, business partners, and employees. Any changes to the original agreement should also be documented as quickly as possible.

    Contacts must be intelligible and unambiguous in order to be properly interpreted. It is worthwhile to take the time to carefully draft agreements in order to minimize ambiguity and the danger of litigation that comes along with it.

    #4 Abide by All Agreements

    It may seem redundant, but it is common for clients to make commitments, sign contracts, and after days or weeks of detailed negotiations and the passing of time, disregard the provisions agreed upon. This often happens not out of malice, but a simple habit of returning to normal industry practices because new terms have not been highlighted in highly visible areas.

    It’s crucial to read and abide by the conditions of any contracts you sign. While those contractual procedures are still fresh in your mind, prepare contract summaries or lists of requirements. This simple step can help you avoid the challenge of litigation.

    #5 Be Prepared to Compromise

    Finally, in order to reach a settlement and prevent litigation, you should be willing to listen and perhaps make concessions or compromises.

    If a mistake has occurred, or something doesn’t go as planned, or perhaps you receive a complaint, don’t let it brew. Address any potential issues as soon as they have been identified.

    Train employees to identify conflicts, discuss and/or resolve problems swiftly, and encourage communication of concerns. In these actions, you may prevent expensive lawsuits or grievances that can result by giving employees a reporting system, retaining legal counsel, and handling each issue as it arises.

    Consult with Our Experienced Team

    If you need assistance with a situation that may lead to litigation or have questions about any potential legal matter to protect you or your business from litigation, please contact Apfelbaum Law for a consultation.

  • How Do I Know if I Need to Hire a Business Lawyer?

    How Do I Know if I Need to Hire a Business Lawyer?

    If your business is being sued, you likely already know the best course of action is to consult a business lawyer, but what about the less alarming circumstances surrounding your business dealings?

    When starting a business, many entrepreneurs are often uncertain about whether they should obtain legal advice. A business owner might be able to manage the early phases of opening a business, but it’s crucial to speak with a business attorney to reduce risk and ensure you are compliant with all laws. Similarly, as you run your business or your business grows, new challenges arise for which may be wise to consult with a business lawyer.

    What is Business Law?

    Business law  seeks that parties to a transaction or an agreement be protected and secured in their business dealings. While there are many different aspects of business law, seeking fairness and protection of the parties involved may be one of the most important purposes.

    Contracts, transactions and disputes, intellectual property and data, labor law, and bankruptcies are just a few of the many areas covered by business law.

    What Does a Business Lawyer Provide?

    A business lawyer, also known as a commercial attorney or corporate attorney, can play a crucial role in business activities. A business lawyer may help with a variety of issues, including disputes, business transfers and sales, contract drafting and negotiation, intellectual property dealings, and much more. In addition, a business lawyer can assist in resolving conflicts with other companies or even employees.

    When Might You Need a Business Lawyer?

    Here are a few of the instances where you may need a business lawyer.

    Buying or Selling a Business

    Although starting a new business is a common reason individuals obtain a business lawyer, buying an existing company may be another occasion to seek legal guidance. In fact, in this case, the assistance of an experienced business lawyer would begin with the actual purchase agreement. Having a lawyer draft, review, and negotiate this important contract could avoid future frustration and financial risk.

    When buying a business, even if you are familiar with the industry in which you are purchasing, financial records, zoning issues, licenses and permits, and company contracts may be complicated and challenging to understand. A business lawyer would be able to spot discrepancies and advise you in all these areas.

    Starting a New Business

    It can be intimidating and overwhelming to start a business. You will face immediate decisions such as if you should create an LLC or operate as a sole proprietor, if you should incorporate, what documents you must file to safeguard your company and your intellectual property, and more. These questions can all be addressed by a business lawyer.

    Selling or Buying Business Assets

    Similar to when you buy or sell a business, there a number of concerns when you acquire or sell any major asset. For example, real estate holdings, transportation and company vehicles, equipment, and supplies are just a few of the many assets that your business can require to operate effectively.

    For any real estate acquisition or sale, as well as any other significant investment or element of buying or selling business assets, your business lawyer will guide you and may be able to significantly reduce your burden of risk.

    Ending a partnership or otherwise altering the ownership structure of your business would also be an occasion in which an experienced business lawyer would be needed.

    Other Business Functions

    Business lawyers can assist you with many intricacies of your business including:

    • Forming a corporation or other entity
    • Maintaining your corporation
    • Buy-sell agreements
    • Selling of the business entity or assets of the business
    • Dissolution of the business
    • Drafting
    • Review
    • Negotiation
    • Non-Competition Agreements and other employment issues
    • Contractor, distributorship, employment, and other type of agreements
    • Contract and various business disputes
    • Intellectual property protection

    Do You Need Assistance with Your Business?

    Being a business owner entails both rewarding outcomes and difficult choices. To avoid potentially costly pitfalls, and to ensure that your business is operating in compliance with all applicable laws, it is important to seek legal advice.

    If you need assistance with your business or have questions about any potential business law matter, our team of experienced attorneys is available to assist you. Contact Apfelbaum Law today for a consultation.

  • The 3 Most Important Things to Know About The Guardianship of Incapacitated, Disabled, & Elderly Individuals

    The 3 Most Important Things to Know About The Guardianship of Incapacitated, Disabled, & Elderly Individuals

    If you have a loved one with a significant disability or an age-related cognitive challenge, they may need someone to make decisions for them if they’re unable to do so for themselves.

    However, unless they  are your minor children, you won’t have the legal authority to make decisions on their behalf when it comes to certain legal and medical matters. This is when a guardianship can be required.

    A guardianship is a legal mechanism that enables one person or organization to make choices for another. The individual being represented is known as a ward.

    What You Need to Know

    There are several important things you should know about guardianship in Florida.

    Types of Guardianship

    With a guardianship, a guardian has the authority to make all or the majority of choices on behalf of a ward. Usually, it entails making financial, legal, and medical decisions. The guardian is required to make these choices in the best interest of the Ward.

    In Florida, when a child receives an inheritance, the settlement from a lawsuit over $15,000, or the proceeds from an insurance policy that exceeds the amount allowed by statute.

    Adult guardianship may be established when a court determines that a person’s capacity for decision-making is seriously compromised or impaired. Guardianship is only necessary when no less stringent option—such as a trust, durable power of attorney, health care surrogate or proxy, or other type of pre-need directive—is deemed suitable and available by the court.

    Guardianships may be appointed voluntarily or involuntarily under Florida law. An adult who voluntarily requests for the appointment of guardianship and who is mentally competent but unable to manage his or her own estate may have a voluntary guardianship established for them.

    Guardianships can be temporary or permanent, and can include some or all of the ward’s decision-making authority. it is necessary to speak with a guardianship attorney, financial advisor, and your state’s guardianship association or advocacy organization.

    Key Roles and Responsibilities of a Guardian

    Only the authority required to complete tasks that a disabled or incapacitated person cannot complete on their own is given to guardians. These abilities could include:

    • Ensuring the Ward has access to care and that it is maintained
    • Making choices regarding the Ward’s finances
    • Making Ward-related medical decisions
    • Ensuring that medical and educational services are maintained and sufficient
    • Providing the court with updates on the Ward’s well-being

    It’s important to note that guardians are not expected to provide caretaking services. The limit of a guardianship’s duties is as a decision-maker who gives consent or makes choices that the Ward isn’t capable of doing on their own.

    Length of Guardianship

    The length of guardianship is determined may be temporary (an emergency temporary guardianship, or permanent (plenary guardianship).  Guardianships can end if the ward passes away, or if the guardian or the ward petition the court, alleging that the guardianship is no longer necessary.

    Contact Us for with Help Concerning Guardianship

    If you need assistance with a guardianship or have questions about any potential legal matter surrounding the establishment of a guardianship, please contact Apfelbaum Law today for a consultation.

  • What Happens at a Real Estate Closing?

    What Happens at a Real Estate Closing?

    Buying a house brings a mixture of excitement and overwhelm, whether you are a buyer or seller. The many steps and documents involved can cause even seasoned individuals to find the real estate closing process intimidating.

    Here are a few things to know, prepare for, and expect during a real estate closing.

    What Is a Real Estate Closing?

    In simple terms, a real estate closing is when a property’s ownership is legally transferred through a number of steps between the time the buyer and seller come to a purchase agreement. Ideally, it occurs without any delays, disagreements, or extra costs. There are numerous moving parts that should be handled carefully since lack of attention to detail could easily cause a closing to fall through or even result in legal action.

    The closing of a real estate transaction should be viewed as a process, rather than a single stage in the property buying procedure. When a seller formally accepts an offer on a property, a purchase agreement is made, and a closing date is determined.

    Where Does the Closing Process Take Place?

    Closing typically occurs at a closing agent’s office, which could be the real estate attorney’s office, whether they are acting as the closing agent or not.  Closing can also take place remotely (for example, by computer, using remote notaries, or other means to facilitate, mainly when parties are located in different areas).

    Who Attends the Closing?

    The individuals who attend the closing can depend on many factors, but in general you can expect any the following attendees:

    • Home buyer
    • Home seller
    • Attorneys
    • Closing agent
    • Real estate agents
    • Mortgage lender

    What is Required for the Real Estate Closing to be Completed?

    The process of buying and selling a property concludes with the real estate closing.

    In addition to paying closing fees and the initial escrow payment for your homeowner’s insurance and property taxes, a buyer must sign a number of legal documents pertaining to the transfer of property ownership. This simultaneous exchange of all paperwork and monies between the buyer, the lender, and the seller is known as a “settlement,” and occurs when the transaction is complete.

    After closing, the seller and buyer formally exchange possession of the property. Your agent, the lender, and the title company will carry out their respective obligations.

    Contact Us for Guidance

    If you’re not a real estate attorney or a real estate agent, the process and documents involved in a real estate closing can be confusing or intimidating. Reading pages and pages of legal and financial terms can be overwhelming.

    Whether you are buying or selling, you want to have your interests protected during the closing process. At Apfelbaum Law, our attorneys will answer guide you throughout the process, answer your questions, and provide you with the information you need to make informed decisions. Contact us today.

  • Closing on a Home: 4 Things You Need to Know

    Closing on a Home: 4 Things You Need to Know

    The real estate closing process is everything that happens from when an offer is accepted (the contract is signed by all the parties) until you are seated at the closing table ready to sign documents. The entire process generally takes between 30 and 60 days, but cash deals can generally be done in a shorter period of time. The closing date is when ownership of the home is officially transferred from the seller to the buyer.

    There can be worry surrounding the closing process, especially if it is your first experience buying or selling a property.

    4 Things You Need to Know When Going Through the Closing Process

    Here, we are sharing four important things to be aware of as you begin the closing process.

    #1 Request Closing Documents in Advance

    You’ll be reviewing and signing many pages of official documents at the closing.  If you would prefer to review and get familiar with the paperwork in advance, you can request a copy of the closing documents beforehand. This could alleviate misunderstandings or last-minute changes to the transaction by providing ample time to look over each page. It is very important to understand what you’re signing, along with any legal ramifications.  Certain documents actually must be provided to you days before the closing.

    #2 Complete all Required Contingencies

    Contingencies are conditions that must be satisfied before a real estate transaction can close. This includes investigating the buyer’s credit and financial history, paying an earnest money deposit, having the property inspected and appraised, and transferring the title.

    Talk to your real estate attorney, real estate agent, and lender to discover if there are any extra requirements that are specific to your scenario.

    #3 Bring Identification Documents

    It’s crucial to show up with the necessary documents to prove your identity for the transaction to take place without delay.

    You will need some form of government-issued identification. This can be a passport, driver’s license, military identification, or state-issued ID card. Your identification must be current — avoid arriving with a passport or driver’s license that has expired.

    If you’re buying a house with your spouse but you don’t have the same last name, bring your marriage license to prevent delays.

    #4 The Closing Statement Will Itemize the Transaction for You

    The closing statement is a document that itemizes all the expenses of the sale. It contains a compiled lists of all of the debits and credits associated with the transaction. This document explains all the settlement costs and outlines who pays whom in specifics so that the buyer and the seller know what to expect for the closing to be completed.

    We Can Advocate for You

    Closing on a home is a significant event, whether you’re the buyer or the seller. It’s important to have someone in your corner as an advocate throughout the process.

    At Apfelbaum Law, our team of experienced attorneys provides a wide range of legal services including real estate law. Contact our office to schedule your appointment.