For most people, the family home represents a vital part of the estate we own. Losing the home is one of the most dreaded events that can happen to us. This is because apart from the monetary value that is attached to the home, we are also emotionally attached to it.
Studies show that more than 67 percent of homes are rented in New York, with most of them giving the option of owning the property later on.
New York, just like other states, has different laws that recognize the role of the home in the well-being of the family and seeks to insulate this asset against claims from creditors. Talk to an asset protection attorney to understand the laws much better.
Let us look at the different ways to protect your family home.