There have been many projects completed in New York through the use of investments from companies that are affiliated with the EB-5 visa program. In most cases, the project is developed on time, and the foreign investors are assured of their rights to apply for a visa and seek permanent residency. Unfortunately, there have been situations where the developers committed EB-5 fraud, and both investors and loan companies are left to try and recoup their losses.
The beloved "Queen of Soul," Aretha Franklin, recently passed away from cancer at the age of 76. In the aftermath of her death, while fans mourn her loss, family members may struggle to divide her assets since she reportedly did not have any estate plans in place. Every state, including New York, has laws that dictate how these estates are divided in these circumstances -- but these laws cannot prevent litigation issues.
Any child may bring joy and heartache to a parent, and yours is no exception. Your child is unique, and you have watched him or her grow and develop over the years. You may have expected that at this point, with your child on the cusp of adulthood, you would be ready to release him or her into the world. However, things have not worked out that way.
When the U.S. Supreme Court ruled for marriage equality, it also cleared the way for couples in a same-sex relationship to dissolve their union legally. However, the process of getting to the final decree may be a bit more complex when it comes to a same-sex divorce. New York residents do have laws that offer protection, but it may still take time to reach a satisfactory settlement agreement.
At the end of September, the EB-5 visa program is set to expire once again. While it is uncertain what actions Congress may take, there have been efforts on the part of some lawmakers and an official with the Immigration Service, who are calling for the program to be terminated. There have been many projects here in New York that came to fruition due in part to funding from this program, but concerns over EB-5 fraud and national security may make it more difficult for the program to survive.
The saying that the only things one can count on for certain are death and taxes remains true no matter where one resides. That being said, many New York residents may believe that drafting their final wishes is the most difficult part of estate planning. Unfortunately, if the plans are not handled the way one intended, then even the most thorough estate plans can be derailed.