Law Offices of H. Michael Soroy

Even given the recent collapse of real estate values in many areas, real property — a parcel of land, a new home, a condominium unit — still remains the most expensive asset most people will ever purchase.

Businesses close for a number of reasons. Sometimes, they close because the founder has suddenly become ill or has passed away, or perhaps because of bad economic times, increased competition or poor management. No matter why, all business owners must undertake a number of steps before closing their doors.

As the national foreclosure crisis continues to grow, the federal government and several states are taking corrective measures to diminish the fallout from predatory lenders and fraudulent subprime mortgage bankers. Several of these measures aim to make it easier for owners to retain their homes while they renegotiate their mortgages.

Many people think that simply having a Last Will and Testament is sufficient to cover any issue that may arise after their death. Unfortunately, this is often not the case. While it is important to have a Will in place, there are a number of other documents that can be helpful to devising a complete estate plan.