Asterita & Associates, LLCAsterita & Associates, LLC Attorneys At Law2026-08-12T09:04:05Zhttps://www.bonfiglioasteritalaw.com/feed/atom/WordPress/wp-content/uploads/sites/1403554/2022/08/cropped-site-identity-32x32.jpgOn Behalf of Asterita & Associates, LLC<![CDATA[What to do when a home inspection reveals problems]]>https://www.bonfiglioasteritalaw.com/?p=530992026-08-05T07:24:48Z2026-08-05T07:24:48ZStaying calm and taking the right steps
When your home inspection reveals serious defects or potential safety concerns, it is important for you to stay calm. Discovering defects does not automatically mean you must walk away from the transaction. If an inspection raises concerns in Staten Island, following these steps can help you avoid unnecessary challenges:
Review the inspection report: When findings raise concerns, it is not always a deal-breaker. Some issues can be resolved by negotiating with the seller. Look carefully at the inspection report with your real estate team to know what options you have as well as associated costs before deciding whether to cancel the sale or work out an alternative resolution.
Negotiate changes to the purchase agreement: If your purchase agreement includes an inspection contingency or other applicable provisions, you may be able to negotiate repairs, request a credit or seek a price reduction.
Decide whether to proceed: Based on your understanding of the inspection report, you may decide that the home is still a good purchase. Your contract terms may allow you to cancel the transaction and recover your earnest money deposit without penalty.
Obtaining professional advice can help you understand your options before deciding whether you have the right to cancel the contract or negotiate changes with the seller. Acting quickly matters since your purchase contract may set specific deadlines for deciding how to respond.
Protecting your investment
Concerns found during a home inspection can create challenges beyond the purchase itself. For most homeowners, buying a house is connected to long-term financial planning and estate planning goals. A problematic home inspection is not necessarily the end of the transaction. Addressing these issues can help you avoid unexpected costs and provide clarity and protection.]]>On Behalf of Asterita & Associates, LLC<![CDATA[Incapacity planning for unmarried New York couples]]>https://www.bonfiglioasteritalaw.com/?p=530972026-07-20T16:44:37Z2026-07-20T16:44:37ZCore medical protections
To protect your partner and ensure your wishes are followed, you could proactively execute specific legal documents, such as:
Health-care proxy: This lets you designate your partner as your healthcare agent to make medical decisions if you cannot speak for yourself
Living will: This outlines your specific preferences for end-of-life care, such as life support ventilators and feeding tubes
Hospital visitation directive: This states that your partner has priority visitation rights equivalent to an immediate family member
Health Insurance Portability and Accountability Act (HIPAA) authorization: This grants the doctors permission to share your medical updates, diagnosis and treatment plans with your partner
Without these documents in place, your partner could be left completely helpless in a time of crisis. Without a signed proxy or power of attorney, a court might need to appoint a guardian and that process can be slow, uncertain and costly. There is no guarantee the court will select your partner.
A durable power of attorney (POA) could also grant you the legal right to manage your partner’s finances, pay rent and handle taxes during a crisis. For unmarried couples, an immediately effective POA is preferred to avoid bureaucratic delays.
Don’t leave your partner’s rights to chance
Estate planning for unmarried couples is an act of mutual protection. Protect the person you love and yourself by putting the right legal shields in place. An experienced estate planning attorney could help you understand which documents apply to your situation and how to avoid relying on a court to sort things out.]]>On Behalf of Asterita & Associates, LLC<![CDATA[3 essentials before buying a restaurant in New York]]>https://www.bonfiglioasteritalaw.com/?p=530952026-07-08T15:30:54Z2026-07-08T15:30:54ZThe restaurant industry in New York is a behemoth. According to the National Restaurant Association’s 2026 factsheet, New York’s restaurant and food services sales reached $98.4 billion from the previous financial year. This is a promising sign for people who are looking to invest in this industry. If you are also headed in that direction, here are some things you need to know.
1. Check the records
If you are buying a restaurant or any other business for that matter, you have to read through their financial records. Check their profit and loss statements, debts and other liabilities. Furthermore, you should also take a look at the staff size, supply chain relationships and other necessary details to get an estimate of operation costs.
2. Permits and compliance
Restaurants are a type of business that come with many health and safety concerns. That is why there are several local, state and federal regulations in place. If you are acquiring a restaurant, you have to make sure that all the permits and certifications are still valid. In case your restaurant serves alcohol, check if the liquor license can be transferred. Finally, you have to verify the zoning compliance, which regulates the building size, neighborhood density and business use.
3. Securing finance
Buying a restaurant in New York is a big deal. You should have complete awareness about your financial situation and an understanding of future business implications on your finances. You should consider the upfront cost for setting up the restaurant, operating costs and interest if you are going to take a loan.
Reviewing certification and lease
Now comes the most important part: reviewing the lease terms and conditions. Make sure to peruse the entire document to ensure you are not put in a disadvantageous position anywhere. Furthermore, you have to secure a purchase agreement, bill of sale, Certification of Occupancy (CO) and many other documents. To ensure that you don’t miss any crucial details, it is advised to consult an attorney experienced in business services.
]]>On Behalf of Asterita & Associates, LLC<![CDATA[Does creating a trust change ownership of your home?]]>https://www.bonfiglioasteritalaw.com/?p=530932026-06-30T15:10:15Z2026-06-30T15:10:15ZCreating a trust does not automatically transfer your home
Your home's title identifies its legal owner. If you create a trust but do not transfer ownership, the property will generally remain in your individual name.
For many estate plans, transferring a home into a trust requires signing and recording a new deed. A deed is the legal instrument that transfers ownership from you as an individual to the trust. Although people frequently create a trust and transfer their home during the same estate planning process, those are separate legal transactions.
Several factors can affect how your home is titled
Not every estate plan addresses real estate in the same way. Several factors can affect whether you transfer ownership of your home after creating a trust, including:
The type of trust you create
How you currently own the property
Whether you own real estate in more than one state
Whether the home has a mortgage
Your broader estate planning objectives
Together, these factors help establish how your trust and property ownership complement one another. The appropriate approach for one homeowner may not fit another, even when they own similar property or have similar estate planning priorities.
What happens when you transfer your home to a trust
In many cases, transferring a home to a revocable trust does not change how you use the property during your lifetime. You can generally continue living in the home, maintaining it and making decisions about it. The primary change is that the trust becomes the property's legal owner.
Because the trust now owns the property, its terms identify who may manage the home during your lifetime and who will receive it after your death, according to the provisions of the trust.
How your trust fits into your estate plan
Creating a trust is only one component of an estate plan. Deeds, beneficiary designations and other estate planning documents can also affect what happens to your property.
When these documents reflect the same estate planning strategy, they operate together to carry out your intentions. Consistency among these documents becomes increasingly important when your estate includes real property.]]>On Behalf of Asterita & Associates, LLC<![CDATA[3 grounds for challenging deathbed wills in New York]]>https://www.bonfiglioasteritalaw.com/?p=530912026-06-19T14:04:36Z2026-06-19T14:04:36ZA deathbed will is a legal document drafted by the person who is facing imminent death. Sometimes these wills are contested in court based on the circumstances under which theywere signed. Since the testator is usually in a vulnerable state while signing, the court may see it through a lens of suspicion. Below, we discuss how some relatives may challenge last-minute wills.
Lack of testamentary capacity
Most people on their deathbed are under heavy medication or sedation, which may reduce their cognitive ability. Since the law requires the testator to be in their testamentary capacity, a will signed under medication can be a cause for dispute.
Undue influence
A person on a deathbed depends on others for their bare survival. This dependence may increase the risk of undue influence and coercion. Any bad actor can intimidate them into signing a will in their favor. That is why when someone submits a brand-new will that is in contradiction with the long-term stance of the testator, the court views it with suspicion.
Improper execution of will
Because deathbed wills are often drafted in the last minutes, execution mistakes can sometimes occur. Without an experienced attorney in place, family members may make technical errors that jeopardize the document's validity. Under New York law, a court may closely scrutinize the signing process, particularly if:
A beneficiary signs as a witness: Doing this usually voids that specific witness's entire inheritance unless there are at least two other disinterested witnesses who inherit nothing.
Statutory signing rules remain ignored: Perhaps the testator didn’t sign at the very end of the document or the witnesses signed at the wrong place.
If these essential formalities are not followed, the court may choose to invalidate the entire will.
How a legal guide may help
It is common for the relatives of the deceased to heavily contest the deathbed wills. They may try to get your will invalidated by the court by providing the above-discussed reasons as grounds for dismissal. In situations like this, having an experienced legal adviser in the field of estate planning can be invaluable. With their help, you can properly defend the will in probate court and protect your rights as a beneficiary.]]>On Behalf of Asterita & Associates, LLC<![CDATA[How to protect your home from foreclosure in New York]]>https://www.bonfiglioasteritalaw.com/?p=530712026-06-11T10:03:23Z2026-06-11T10:03:23ZAct early and communicate
As soon as you realize you cannot make a payment, contact your lender’s loss mitigation department. They may offer you a temporary forbearance or a repayment plan before legal action begins.
Understand the 90-Day Notice
In New York, lenders have a legal duty to send you a specific Pre-Foreclosure Notice at least 90 days before filing a lawsuit. This document provides a list of government-approved housing counseling agencies. You can use that timeframe to consult with a professional.
Attend mandatory settlement conferences (MSC)
Once a foreclosure action is filed in court, state law requires that you, the lender and your lawyers meet with a neutral third party in an MSC. This is a session where all involved parties meet under court supervision to discuss the current dispute and potentially resolve the case.
You must attend these sessions to protect your rights while your legal representation can help you negotiate on a final agreement. If there is no such outcome reached, you may need to prepare for an upcoming trial.
File a formal response
After receiving a Summons and Complaint, you typically have to file a formal Answer with the court within 20 to 30 days. Failing to submit this document can allow the lender to expedite a default judgment order, stripping you of your ability to contest the foreclosure.
Beware of scams
No matter how anxious you feel, it is important to be wary of any foreclosure rescue companies that demand upfront fees. In New York, it is generally illegal for these businesses to charge an initial payment for their services.
Finding hope in a hard situation
While you have rights as a homeowner, they are time-sensitive when you are facing foreclosure. Seeking legal guidance can help you get the prompt assistance needed to protect your property and your equity.
]]>On Behalf of Asterita & Associates, LLC<![CDATA[Key contingency clauses that protect homebuyers in New York]]>https://www.bonfiglioasteritalaw.com/?p=530692026-06-01T14:01:03Z2026-06-01T14:01:03ZYou can protect your deposit
One of the most critical clauses is the one for mortgage contingency. Once you sign a contract, your deposit is held in escrow until the finalization of all inspections, appraisals and paperwork. In case your financing from the bank falls through, this clause ensures that you get your money back.
You can safeguard your equity lenders
Lenders generally only provide a mortgage based on the appraised value of the home instead of the purchase price. If the estimate is low, you could be forced to pay the difference in cash. An appraisal contingency allows you to walk away from the deal or ask the seller to lower the price to match your bank's valuation.
You can address hidden costs
Many homes in New York, especially in historic areas or older suburbs, can harbor extra fees that can increase the sale price. With an inspection contingency, you can renegotiate the purchase price. You can also back out if the inspector finds major structural problems, termite damage or environmental hazards in the home.
Helping you buy with confidence
By addressing potential hurdles before finalizing your home purchase, you can ensure that you made a smart financial decision. Working with a legal professional can help you properly draft your contingency clauses while protecting your interests. Your future self will thank you for having these provisions today.
]]>On Behalf of Asterita & Associates, LLC<![CDATA[What should you review before signing a commercial lease?]]>https://www.bonfiglioasteritalaw.com/?p=530652026-05-21T09:24:14Z2026-05-21T09:24:14ZCheck whether the space fits your use
Before signing, confirm that the property can legally support your type of business. In New York City, a Certificate of Occupancy or other building records may show how the space can be used. In New Jersey, you can check local zoning and building rules to confirm whether your business could operate at that location.
Different business types may involve different approval, licensing or build-out requirements. If the property does not match your intended use, you could face permit delays, renovation issues or opening problems.
Know the costs beyond base rent
Beyond base rent, you could also be responsible for charges such as:
Real estate tax increases
Common area maintenance charges
Insurance premiums
Utilities or submetering fees
Repairs, maintenance or improvement charges
Some agreements use a triple net structure, which shifts many property-related expenses to the tenant. Others use a base year for taxes or operating expenses, meaning you may pay increases above the first-year amount.
Check guarantees and exit options
Many landlords ask business owners to sign personal guarantees. This can make you personally responsible for certain lease obligations if the company cannot pay. A good guy guarantee may limit that exposure, but only if you meet the conditions stated in the agreement, such as giving notice, leaving the space and returning possession properly.
You should also check whether the lease allows assignment or subletting. The terms should explain whether landlord consent is a requirement and what happens if the landlord says no.
Plan for business interruptions
Unexpected closures can create significant financial strain. Review force majeure, rent abatement or casualty clauses to see what happens if fire, severe weather, government orders or other events limit your ability to operate. These clauses do not automatically excuse every payment.
Review the lease before your business depends on it
A commercial lease is a long-term commitment that can shape your company's financial health and future flexibility. By asking the right questions about daily operations and exit options now, you can avoid costly surprises once you are legally tied to the space.]]>On Behalf of Asterita & Associates, LLC<![CDATA[3 common contract contingencies in property transactions]]>https://www.bonfiglioasteritalaw.com/?p=530622026-05-19T11:21:34Z2026-05-19T11:21:34ZFinancing contingency
This provision, sometimes called a mortgage contingency, ties the purchase to your ability to obtain a loan. If you cannot secure financing within the timeframe stated in the contract, this clause may allow you to cancel the transaction and recover your contract deposit (or down payment).
In New York, deposits on residential properties often amount to 10% of the purchase price. Without a financing contingency in place, you risk forfeiting that deposit if a lender denies your mortgage application. The clause typically specifies a deadline, often 30 to 45 days, by which you need to obtain a mortgage commitment.
This provision may also outline conditions related to the type of loan, interest rate or other financing terms you find acceptable. A buyer who receives a mortgage offer with an interest rate far higher than anticipated, for example, may still have grounds to invoke the contingency if the contract language supports it.
Home inspection contingency
New York buyers typically conduct home inspections before signing the contract. However, if an inspection contingency is specifically negotiated and included, it gives you the right to have the property examined by a professional within a set period after signing.
If the inspection uncovers significant issues such as foundation damage, mold, outdated electrical systems or plumbing defects, you may have the option to negotiate repairs, ask for a lower price or not take the deal at all. The specific terms depend on the contingency clause and what the parties agreed to in writing.
Appraisal contingency
This clause can protect you from paying more than a property's appraised fair market value. When you apply for a mortgage, the lender typically orders an independent appraisal to verify that the purchase price aligns with what the property is worth.
If the appraisal comes in lower than the agreed-upon price, the lender may decline to finance the full amount. This leaves a gap between what the bank will lend and what you agreed to pay. An appraisal contingency allows you to renegotiate the price, cover the difference out of pocket.
The broader picture
Contingencies do not operate in isolation. Each one interacts with the others and with the broader terms of your purchase contract, deposit amounts and the expectations of both parties. The way you structure these clauses can shape not only your legal rights but also how the seller perceives the strength of your offer.
Most contingencies come with specific deadlines, and missing one can result in the forfeiture of your right to invoke the clause. Staying in close communication with your attorney, lender and inspector helps you meet those windows and preserve your options.]]>On Behalf of Asterita & Associates, LLC<![CDATA[The founder’s safety net: A simple guide to business succession]]>https://www.bonfiglioasteritalaw.com/?p=530592026-05-13T11:38:28Z2026-05-13T11:38:28ZAs a founder, you have built a legacy – a business, a home and security for your family. That legacy deserves a plan that protects it all and a trusted advisor who understands the complete picture should be the one to guide it. True security, however, is not found in one single document; often, it requires a comprehensive succession plan, an updated will and trusts to manage the proceeds.
Securing a clean exit
Every business needs a succession plan to define what happens when you exit, whether the departure is planned or unexpected. A buy-sell agreement delivers the solution to the challenges such as these. This document proactively answers the most difficult questions before they can cause a crisis, including who maintains the right to purchase your shares.
Protecting family wealth
Your business is probably the primary engine of your family's wealth. An estate plan ensures that your executor handles your assets according to your wishes through essential instruments:
A will: This is a testament that contains details of who gets what and when.
A trust: This tool allows you to own and manage your assets, protecting them from creditors and family disputes.
A power of attorney: This document empowers someone you trust to manage your financial affairs if illness or injury prevents you from doing so yourself.
These legal documents form the blueprint for your legacy, governing how your estate controls, protects and passes on your tangible assets.
Safeguarding real estate investments
Your real estate is the physical foundation of your wealth. A complete succession plan must address any commercial buildings you own, clarifying whether your estate will sell or lease them during the transition. Likewise, you can place your family home in a trust to preserve it for future generations.
Secure your legacy
Excellence in legal planning is not about finding one person who claims to know everything. It is about finding an advocate whose primary skill is understanding you, your family and your business, ensuring all legal strategies interact effectively. Get a comprehensive review to create a clear and actionable plan to fortify your financial legacy.]]>