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Law BlogLegal Blog on immigration, bankruptcy, family law (divorce, annulment and legal separation), personal injury, real estate, wills and estate matters.enSat, 07 Mar 2026 13:08:28 -05002225Jeffrey B. PeltzArea of LawWills and EstatesConsidering a Reverse Mortgage? Beware!A reverse mortgage allows a homeowner who is at least 62 years old to receive money from a lender, which does not need to be paid back until the borrower no longer lives in the home or dies. This sounds like a pretty good idea to many people, especially if they lack sufficient income to pay their...Fri, 25 Apr 2014 00:00:00 -0400A <a href="http://en.wikipedia.org/wiki/Reverse_mortgage">reverse mortgage</a> allows a homeowner who is at least 62 years old to receive money from a lender, which does not need to be paid back until the borrower no longer lives in the home or dies. This sounds like a pretty good idea to many people, especially if they lack sufficient income to pay their mortgage or other living expenses. For some, <a href="http://www.aarp.org/money/credit-loans-debt/reverse_mortgages/">it may be a good idea; but, for many others, it made not</a>. In the past, lenders did not impose any income or credit worthiness requirements for borrowers to qualify for a reverse mortgage. Due to a recent increase in foreclosures of reverse mortgage loans, however, <a href="http://www.kiplinger.com/article/retirement/T040-C000-S004-tighter-rules-on-reverse-mortgages.html">new rules</a> have gone into effect. While these new rules may prevent some from entering into a loan that is likely to be foreclosed, they make it harder to qualify for such a mortgage. In addition to the requirement that at least one of the homeowners be 62 or older, the home must have significant equity to qualify for a <a href="http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2014/04/17/a-guide-to-reverse-mortgages">reverse mortgage</a>. The homeowner must also actually reside in the home, and the loan amount cannot be more than <a href="https://edis.ifas.ufl.edu/fy1105">$625,000</a>. Although reverse mortgages are <a href="http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hecm/rmtopten">federally regulated</a>, borrowers must understand the rules and the potential <a href="http://money.usnews.com/money/blogs/on-retirement/2012/12/11/5-reasons-to-avoid-a-reverse-mortgage">consequences</a> of taking out such a loan. There are usually <a href="http://homeguides.sfgate.com/reverse-mortgage-bad-idea-95204.html">considerable fees</a>, and the interest charged on these loans is higher than traditional mortgages. These expenses will reduce the amount of money a borrower can expect to receive from the loan. The homeowner is required to continue to pay the <a href="http://money.usnews.com/money/blogs/on-retirement/2012/12/11/5-reasons-to-avoid-a-reverse-mortgage">property taxes and hazard insurance</a> for the home. If this is not done, the lender may foreclose on the loan and evict the homeowner from his or her home. In fact, the <a href="http://online.wsj.com/news/articles/SB10001424127887323982704578454740015215564">foreclosure rate</a> on these loans has recently reached 9.8%. If the homeowner does not reside in the home for a period of 12 consecutive months, the lender may also <a href="http://www.consumerfinance.gov/askcfpb/243/what-happens-if-i-have-to-move-out-of-my-home-into-a-nursing-home-or-assisted-living-and-i-have-a-reverse-mortgage.html">foreclose</a> and evict the homeowner. This is true, even if the homeowner no longer lives in the home due to illness. For example, if the homeowner becomes ill and is at a health facility for a year and then recovers to the point of being able to return to his or home, this may not be possible, because the home may have been foreclosed. Upon the homeowner’s death, in most cases, the children or other heirs of the homeowner will not get the home, unless they can afford to pay off the balance due on the reverse mortgage. In fact, there have been many cases in which the lender rushed through foreclosure without even following the existing rules. If the house is foreclosed, everyone living in the home must move out. As you can see, there is much to <a href="http://dealbook.nytimes.com/2014/03/26/pitfalls-of-reverse-mortgages-may-pass-to-borrowers-heirs/?_php=true&_type=blogs&emc=eta1&_r=0">consider</a> before taking out a <a href="http://www.nytimes.com/2014/04/13/realestate/reverse-mortgage-realities.html">reverse mortgage</a>. In some situations, such a mortgage may be a <a href="http://www.kiplinger.com/article/retirement/T035-C000-S002-reverse-mortgages-to-the-rescue.html">good idea</a>. However, before deciding, be sure to consider all of the pros and cons carefully.2236Jeffrey B. PeltzArea of LawWills and EstatesDanish Program Being Brought to the US Illustrates the Importance for a WillA Danish television program being brought to the US has sparked a worldwide discussion on inheritance and the need for wills. “The Legacy,” originally airing in Denmark and is now spreading to many countries including the U.S., tells the story of a family with a disputed inheritance that favors a...Mon, 27 Jan 2014 00:00:00 -0500A Danish television program <a style="font-style: inherit; font-weight: inherit;" href="http://www.npr.org/2014/01/23/265195833/danish-tv-drama-sparks-discussions-on-wills">being brought to the US</a> has sparked a worldwide discussion on inheritance and the need for wills. “The Legacy,” originally airing in Denmark and is now spreading to many countries including the U.S., tells the story of a family with a disputed inheritance that favors a daughter who had been given up for adoptions. “The Legacy” also demonstrates how the creation and execution of a will sometimes is complicated, especially due to the more complicated families of today. If the American version of The Legacy comes to the U.S. it will, no doubt, bring the subject of wills and inheritance up in more American homes. As in other countries, where The Legacy has aired, this will likely result in a rush to attorneys that handle wills. As we’ve discussed on our website, <a style="font-style: inherit; font-weight: inherit;" href="http://www.aaalawyer.com/Area-of-law/Wills-Estates/Wills.aspx">wills</a> are an important avenue to officially declare how you would like your assets distributed upon your death. Without a will, each state has its own laws and rules deciding how your assets will be distributed. <a style="font-style: inherit; font-weight: inherit;" href="http://codes.lp.findlaw.com/nycode/EPT/4/1/4-1.1">Click here</a> to see what happens in New York if you die without a will. In order to “save money”, some people choose to do their own wills. This may be a <a style="font-style: inherit; font-weight: inherit;" href="http://money.usnews.com/money/personal-finance/articles/2010/06/29/the-dangers-of-diy-estate-planning">serious error</a>. Requirements for a will vary from state to state. Will that are commonly bought on the internet are not for a specific state. Since, by definition, you won’t be around when your will is being probated in court, if there are errors, or your wishes aren’t clear, you won’t be able to correct those problems when the will is before a judge.. This may result in your will being found invalid, resulting in your property going to others, as if you died without a will. When writing a will for same-sex couples, it is important to have an experienced attorney pay careful attention to the language of the will itself. Many states have still yet to recognize same-sex marriage. If a will is made in a state where same-sex marriage is allowed (such as New York) and the couple later decides to become residents of a state that does not allow same-sex marriage (such as Florida) executing the will may prove to be a challenge if the term “spouse” was <a style="font-style: inherit; font-weight: inherit;" href="http://www.forbes.com/sites/deborahljacobs/2013/06/26/how-the-supreme-court-decision-will-change-estate-planning-for-same-sex-spouses/">used</a>. An experienced attorney can help draft a will that avoids this issue. <a style="font-style: inherit; font-weight: inherit;" href="http://www.aaalawyer.com/New-York-Lawyer-Blog/ArticleID/54/Marriage-Equality-is-Now-the-Law-Throughout-the-United-States.aspx">UPDATE: Thanks to the Supreme Court same sex marriage is now legal through out the U.S.</a> Step, foster, and adopted children are also another example of contemporary family structure affecting inheritance. In New York, your spouse, your biological, and your legally adopted children automatically receive a share of your estate. However, biological children that were legally adopted by another family do not receive a share. Step-children who had not been legally adopted are also unable to receive a share without a written will. The discussion sparked by the “The Legacy” illustrates the importance of having a will to ensure fair inheritance, regardless of family structure. Enlisting an experienced attorney to assist in the process allows you to avoid any legal challenges that may rise.2242Jeffrey B. PeltzArea of LawFamily LawBankruptcyAccidentsWills and EstatesReal EstateImmigrationHow Can a 1 Star Lawyer Get 5 Stars Reviews?How can a really bad lawyer get dozens of outstanding reviews on the internet? I know an attorney, who for obvious reasons I won’t identify, who gives incorrect legal advice, and yet gets rave reviews and top rankings in Google. He has told people that they can file bankruptcy when they can’t....Mon, 23 Sep 2013 00:00:00 -0400How can a really bad lawyer get dozens of outstanding reviews on the internet? I know an attorney, who for obvious reasons I won’t identify, who gives incorrect legal advice, and yet gets rave reviews and top rankings in Google. He has told people that they can file bankruptcy when they can’t. Even worst, he has told people that shouldn’t file bankruptcy that they can. Such legal advice could have adverse effects, such as losing their homes. I know this these things because some of the people that have gone to him have had the good sense to seek second opinions and have visited me. Being an ethical person, and never writing my own reviews, I feel strongly about this problem. Morally I find faked reviews offensive and in a very real practical way it financially hurts me, my staff and family. I have reported the faked reviews to Google on a number of occasions. Their only response was a form letter saying that they were very busy and they suggested that I take up the matter with the offending lawyer. The practice of posting faked reviews has become such a common problem that one can’t read reviews without the thought, are these real reviews? <a href="http://www.nytimes.com/2013/09/23/technology/give-yourself-4-stars-online-it-might-cost-you.html?pagewanted=all&_r=0">The New York Times</a> had a story on this issue today. If something isn’t done about this problem reviews will have be of little assistance in determining whether a service or product is good or not. Just last night, when I was shopping online for hiking pants, I faced this dilemma. There were 103 reviews; most were rave reviews and a few really bad ones. What was the truth? Were the bad ones real and did the company buy dozens and dozens of faked reviews to drown out the real bad ones? A few companies like Yelp are trying to deal with faxed reviews. In fact they <a href="http://blogs.lawyers.com/2013/09/yelp-sues-for-fake-reviews/">sued</a> an attorney for faxing reviews. On the other hand, Yelp “filtered” out 3 of 4 reviews that clients had left on their website for <a href="http://www.yelp.com/biz/law-offices-of-jeffrey-b-peltz-pc-brooklyn">me</a> because they suspected that they were faxed. If they really can eliminate most faked reviews I guess it might be worth the elimination of 75% of my legitimate reviews, but there is no way of knowing how successful they are in filtering out faked reviews; and being wrong 75% of the time isn’t very impressive. In order to counter the faked review problem I propose that you, the consumer, write reviews, both good and bad, when appropriate. Also, when you read reviews, keep in mind - are these real reviews or am I being lied to? For more on this subject you may view the <a href="http://www.aaalawyer.com/LinkClick.aspx?link=http%3a%2f%2fwww.npr.org%2fblogs%2falltechconsidered%2f2013%2f09%2f23%2f225455596%2ffake-reviewers-get-zero-stars-from-new-york-attorney-generalhttp%3a%2f%2f&tabid=680&portalid=1&mid=3869&language=en-US">NPR</a> story on fake reviews and the Forbes story on <a href="http://www.forbes.com/sites/jimhandy/2012/08/16/think-yelp-is-unbiased-think-again/" target="_blank">Yelp</a>.