Maldonado buying snow

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Maldonado buying snow

Sad—but true: about forty percent of first marriages in the United States end in divorce. The rate for second marriages is higher still. Many women and men who have gone through the divorce process know first-hand that it can be very distressing, if not downright agonizing, because it requires the resolution of so many aspects of the marriage itself and the lives of the parties—including their children. Additionally, crucial issues, such as child custody and the rights of the visiting parent and, sometimes, grandparents must be resolved; the changing of the names of beneficiaries on bank accounts, retirement funds, and the like; the need to consider obtaining or maintaining life insurance protection to provide funds to care for children in the event of the death of one or both of the bread-winners; the creation of new estate plans including wills, trusts, health care proxies, and powers of attorney. All of these issues, and more, must be resolved at a time when, in many cases, anger and animosity abounds between the spouses, tending to inhibit cooperation. Our experience has taught us that the difficult process of divorce can be made easier by educating our clients on their legal rights, and what they can or should do, to protect themselves prior to the commencement of a formal divorce action. Thoughtful consideration must be given to every aspect of this life-altering decision. What is clear is that experienced matrimonial counsel should be consulted prior to taking any steps in this process. Feel free to contact all us if you have any questions in this area. I just obtained a child support award from a judge. ANSWER: First, please understand the difference between a custodial parent the parent with whom the child is living and a non-custodial parent the parent with whom the child is not living. A non-custodial parent pays child support to the custodial parent. The Court may also award educational expenses in child support proceedings, including contributions toward the cost of private school, enriched education, and college expenses for the children. Effective October 13, , the standard by which a parent can petition the court for a modification of a prior child support order has significantly changed from prior standards. In the alternative, the parent who is earning significantly less than at the time of the original order may move to decrease the child support obligation. However, if a Court finds that a party voluntarily decreased his or her income i. Intentional attempts to avoid properly supporting a child will never be taken lightly by the Court. Please feel free to contact us with any questions relating to this, or any, topic in the matrimonial field. A number of our older clients as well as their children have asked us recently whether a Reverse Mortgage might help them with cash flow in these difficult times. Below is a brief review of the subject. These are indeed tough economic times, particularly for seniors who need additional cash flow to supplement their Social Security payments and Pensions. With the costs of fuel, taxes, insurance, lawn care, snow removal, home maintenance and, in many situations, the payment of the mortgage itself, home ownership may feel more like a curse than a blessing. The real estate market is struggling and seniors cannot afford to sell their homes until the market improves. What can one do? A possible answer for homeowners in this situation is a Reverse Mortgage. A Reverse Mortgage was once considered an expensive way of extracting cash from your home and fell largely out-of-favor. This trend appears to be changing. Many credit unions, for example, are cutting their closing costs thereby helping homeowners, even some affluent ones, who want or need to generate additional retirement income. In a nutshell, Reverse Mortgages allow people 62 years of age and older to convert their home equity into cash. Instead of the homeowner writing a check to the bank each month, the bank actually pays the homeowner, who may elect to receive the proceeds as a lump sum or line of credit. With new reduced fees offered by some companies, homeowners may be able to save many thousands of dollars on closing costs. Reverse Mortgages are more and more recognized by active retirees as a viable option to supplement their retirement income and allow them to remain in their home. Talk to us about them. Question: I am fifty-eight years-old and have a brother nine years my senior. My father, who died recently, executed a Will in which he left all of his assets equally to my brother and me. Very upset, Sarah T. Sadly, most people do not understand that the person or persons named as beneficiaries of various assets, including retirement accounts such as IRAs and Ks , life insurance policies, trusts, annuities, jointly-held real property, certain types of bank accounts, and many other similar assets, receive those monies outside of, and regardless of, the language of the Will. We urge our clients to check their beneficiary designations on a regular basis. Lifetime changes such as marriage, birth, death, divorce, new financial circumstances, and other factors must be taken into account when you consider, or reconsider, your estate plan. And you should never create, or review, your estate plan without reviewing your beneficiary designations. We strongly recommend such a review every two to three years. We are pleased to review estate documents and beneficiary designations as a courtesy to clients Feel free to call to make an appointment. You should review your estate documents including your beneficiary designations every three years or whenever a significant change occurs in your life circumstances. We will defer the subject of taxes to a future article. Some of the many steps, procedures, and issues most commonly faced in the course of this process are outlined below. Feel free to contact us to obtain additional information regarding any specific topic. Generating the various petitions, waivers, affidavits, and other documents for the Court can be overwhelming and time-consuming for a lay person. Furthermore, a prompt appointment, even if only in a temporary capacity, may be crucial to your ability to preserve estate assets, handle pressing business matters on behalf of the decedent, and deal with potential tax and other liabilities. Once an executor or administrator has been appointed, that person is responsible to attend to the following items, among many others:. It is also important to know which assets will not become part of the court-administration proceedings. We assist clients in determining which assets are eligible to pass in the above manner and in distributing them wisely and in accordance with law. Many other issues can arise during the procedures outlined above, all of which we are readily able to assist you with, such as:. There are numerous scenarios and circumstances that arise in this field. Please feel free to contact us following the loss of a loved one. We are here to serve you. My husband mentioned that a friend of his formed an LLC for his new business. What are the advantages to forming an LLC? How does one going about doing that? And can we do it ourselves, that is, without a lawyer, in order to save money? Thanks very much. Roberta G. If your business fails, you could lose your personal assets. The law permits people to form various types of legal entities to insulate their personal wealth from their business investments. Those entities include corporations, partnerships, limited liability companies LLCs , and others. An LLC combines some of the benefits of corporations and partnerships. A member of an LLC does not have to be a citizen or a permanent resident. And, tax laws generally allow members of an LLC to report company profits and losses on their individual tax returns, so as to avoid double-taxation. We strongly advise our clients who ask us to form LLCs for them to speak to their accountant as there are tax issues that must be considered. As to your question about doing it yourself, we have seen situations where clients who tried to set up LLCs on their own, ran into major problems. While an LLC, when properly formed, affords you immunity from personal liability while avoiding double taxation, there are certain requirements which must be followed. For example, when forming an LLC, you must advertise or publish that fact in a newspaper in accordance with the laws of New York State. Failure to follow the strict provisions of the statute may result in the loss of immunity for members of the LLC. An Operating Agreement should also be prepared which will govern the management of the LLC and protect its members regarding matters such as the attempted sale by a member, death of a member, and the like. It is clearly important to get legal advice to take full advantage of the benefits of the LLC. As always, if you have further questions, or would like to discuss the purchase or sale of a business, please feel free to contact us. Question: After procrastinating for years, my wife and I have decided to create an estate plan. Are there any documents, other than a will, that we need? Patrick R. In addition, serious thought should be given to reviewing beneficiary designations in life insurance policies, retirement plans, pensions, even bank accounts. And thoughtful tax planning is also an integral part of an estate plan. Who will look after your business? Pay your bills? Cash your paycheck? Sign important legal documents? Pay taxes? Buy or sell stocks or other assets? Clearly, you would want someone you trust to take care of these important matters issues for you. So what is a Power of Attorney? Contrary to popular belief, an agent does not have to be attorney. People generally appoint their spouses, parents, adult children, trusted friends, etc. The authority your give to your agent can be very broad, or quite limited, depending on your wishes. A problem that frequently arises if one does not have a Power of Attorney, is that relatives or other loved ones may have to petition a Court to appoint a Guardian to manage financial affairs. Guardianship proceedings can be expensive, time-consuming, and embarrassing. That is unfortunate and tends to create family discord. Question: A number of years ago, when my husband passed away, you handled the administration of his estate. Could you advise me in this situation? And regards to all. Sarah D. Answer: One way to accomplish this, Sarah is by signing a pre-nuptial agreement with your husband-to-be. Actually, we recommend a pre-nuptial agreement in advance of almost every second or third marriage. And, yes, we understand that a pre-nuptial agreement is not a very romantic concept in anticipation of a new marriage—but there are compelling reasons to consider it. What happens, for example, if your new marriage ends as the result of your death? The law says that your spouse has an absolute right to inherit a portion of your estate generally one-third no matter what your Will says. This is of particular concern when you have children from a prior marriage, or other close family members, to whom you would like to leave the bulk of your estate. A pre-nuptial agreement can avoid that problem by stating out exactly what each party agrees to leave to the other, if anything, in the event of death. Your future spouse, for example, can waive give up his rights to inherit from you in a pre-nuptial agreement. A pre-nuptial agreement can be as inclusive as you and your future spouse desire. In your case, Sarah, since you have children from a previous marriage, a pre-nuptial agreement is very important because it will make sure that their interests in your estate are protected. It simply gives you, not a court, the right to make those decisions. In essence, then, a pre-nuptial agreement brings you peace of mind. To be valid, a pre-nuptial agreement must be in writing and signed before the marriage. The agreement must be fair and based on full disclosure of assets and liabilities. We cannot overemphasize its importance—especially in second marriages. Please feel free to contact us if you wish to further discuss this very important subject. During these uncertain financial times it is important for you to consider whether you should become a first-time home or cooperative or condominium apartment buyer. Below are a number of reasons most people give for buying:. Appreciation in Value: Although we appear to be in the midst of a down-cycle, over the years real estate has been fairly consistent in appreciating. Homes have been considered a hedge against inflation over the years. If history is any judge buyers can look forward to an up-cycle and the value of your investment increasing over the years. Tax Benefits : The real estate taxes on your residence as well as a vacation home will most likely be fully tax-deductible. Mortgage interest payments are also fully deductible and help make home ownership a tax shelter. Please note that interest payments on a fixed mortgage are greater at the beginning of ownership and therefore the deduction is greatest during the earlier years. Any profit greater than the above exclusion shall be taxed as a Capital Asset as long as you owned your home for more than one year. Capital Assets receive preferential tax treatment. Pride in the Ownership of Your Own House: This is probably the number one reason why people buy a first home. The feeling that you have full control on what you do in your own house from decoration, etc. It also gives you and your family a sense of security and stability. Accumulation of Equity: As you make payments on your mortgage, the balance goes down and your equity increases. While most of the initial payments on a fixed loan consist of interest on the mortgage, there is also some reduction of principal. Principal payments reduce the amount of the loan and therefore increase the amount you will receive on a sale of the property. Estate planning is a dynamic process that involves far more than what happens to your assets your property after you die. How, and by whom, your assets will be managed for your benefit during your lifetime if you become unable to manage them yourself;. When and under what circumstances it makes sense to distribute your assets during your lifetime;. How and by whom your personal care will be managed and how health care decisions will be made during your lifetime if you become unable to care for yourself;. Many people mistakenly think that estate planning only involves the writing of a will. Estate planning can, and should, involve financial, tax, medical, and business planning. Although a will is almost always part of the estate planning process, you also need other documents to fully address your estate planning needs. Virtually every adult needs estate planning—whether the estate is large or small. First, you should always designate someone to manage your assets and make health care and personal care decisions for you if you ever become unable to do so for yourself. If your estate is small, you may simply focus on who will receive your assets after your death, and who should manage your estate, pay your last debts and handle the distribution of your assets. If your estate is large, you should consider various ways of preserving your assets for your beneficiaries and of reducing or postponing the amount of estate tax which otherwise might be payable after your death. Whether you know it or not, you already have an estate plan. If you fail to plan ahead, a judge will simply appoint someone to handle your assets and personal care. And your assets will be distributed to your heirs according to a set of rules known as intestate distribution. And those rules may not mirror your desires as to your choice of heirs. An estate plan gives you much greater control over who will inherit your assets after your death. You should seriously consider creating your estate plan. For purposes of this article, assume that our client, Mary, a widow, has come to us to create her Will, and has three children: Stephanie, James, and John. The executor is the person who the testator the person making the Will nominates to be in charge of carrying out the wishes of the testator the person who makes the Will or the Grantor the person who creates the Trust. The executor has other duties, too, but such duties are beyond the scope of this article. At our meeting with Mary, she indicates that she would like her daughter, Stephanie, to serve as her executor. In this scenario, the executor appointed by the Court may not be the same person Mary would have chosen to be her executor. On the other hand, if Mary had named her son, James, as her first successor executor in her original Will, then James would have been able to petition the Court to be officially appointed as executor, in light of the fact that Stephanie passed away. In this way, Mary has retained complete control over who is appointed as executor of her estate. A beneficiary is a person whom the testator designates to receive his or her property in a Will or Trust. For example, a testator may choose to make a bequest gift of a specific piece of his or her property to specific person. In the instant scenario, for example, Mary may choose to leave her jewelry to her daughter, Stephanie. This is perfectly fine, but what happens if Stephanie or James or John predeceases dies before Mary? We, therefore, recommend that Mary make certain provisions in her Will to describe what would happen to her assets in case any of her children predeceased her. An illustration may be helpful:. Again, an illustration may be helpful assuming the same facts as above :. Clearly, this is not a simple subject, and this article only touches on the various options that one has when making his or her estate plan. What is clear is that contingency planning be given serious consideration in the preparation of an estate plane. Of course, we would be happy to discuss your estate plan in detail with you during a complimentary consultation. Qualifying for a Reverse Mortgage you must be the titleholder of the property; all borrowers must be 62 years of age or older; any prior mortgage balance must be paid off at the time of closing, but you can use the money from your reverse mortgage to pay it; your home must be a single-family home, a multi-family home with 2 — 4 units one of which units must be your primary residence , or a condominium. The Importance of Reviewing Your Beneficiary Designations Question: I am fifty-eight years-old and have a brother nine years my senior. As always, if you have questions about any type of estate matter, feel free to write or call. Below are a number of reasons most people give for buying: Appreciation in Value: Although we appear to be in the midst of a down-cycle, over the years real estate has been fairly consistent in appreciating. There are many issues to consider in creating an estate plan. First of all, ask yourself the following important questions: What are my assets and what is their approximate value? Whom do I want to receive those assets—and when? Who should manage those assets if I cannot—either during my lifetime or after my death? Who should be responsible for taking care of my minor children if I become unable to care for them myself? Who should make decisions on my behalf concerning my care and welfare if I become unable to care for myself? Beneficiaries A beneficiary is a person whom the testator designates to receive his or her property in a Will or Trust.

Mobile homes are rising in value. But current residents can't cash out

Maldonado buying snow

GREEN BAY — Green Bay's historic Riverside Ballroom , host to music stars, politicians, countless wedding receptions and nearly a century's worth of community gatherings, has been purchased by the family that owns Taqueria Maldonado's. A company registered to Juan Maldonado purchased the 3. The Maldonado family has operated Green Bay-area food service businesses for more than 30 years now and confirmed it already took over Riverside Ballroom operations. Maldonado purchased the property from Ken Tedford, who worked at the Riverside for 45 years and owned the renowned venue for the last 20 years. Juan Maldonado plans to continue to operate the historic venue as a banquet hall and event center that hosts corporate events, family celebrations, and performances, but does plan to undertake some improvements and changes in the months ahead. Here's what to know if you've booked at the Riverside, what improvements the Maldonados might look to implement, and some of the Green Bay venue's storied history. Additionally, the family said the Riverside's staff has decided to stay and continue working with the new owners. The Maldonados have spent recent weeks learning how the Riverside operates in order to make the transition a smooth one. The family plans to make some cosmetic improvements to the Riverside, but they also know the Riverside is an iconic building and important venue to generations of Green Bay residents. They also plan to complement existing food and beverage options with the family's own authentic Mexican-style dishes and cuisine. They also plan to continue working with promoters and event organizers who have long booked performances and events at the Riverside. Veronica and Juan Maldonado quit their jobs and bought a small food truck in from which they opened Taqueria Maldonado's in , well ahead of food trucks' local surge in popularity. The truck became known for its authentic Mexican tacos, as well as burritos and quesadillas. The restaurant enabled the family to significantly expand its menu. The building's drive-thru window would help the family survive the COVID emergency shutdowns in The original food truck was retired, but the family still uses a larger food truck for catering, weddings and community events like farmers markets. Taqueria Maldonado's built a following early on and continued to draw diners even as local options for authentic tacos expanded in the s and s. The original Riverside Ballroom was built by Frank M. Becher as a modern dance hall and skating rink in , according to the Green Bay Press-Gazette archives. Becher billed it as a spacious structure that included refreshment booths, a lunch room and a wardrobe room. The building could host dance couples or up to skaters, Becher told the Press-Gazette. Its grand opening event on Oct. Just eight years later a fire broke out in the building's furnace room on Dec. Becher rebuilt on the same site, then Main St. Advertisements and promotions from touted that the new Riverside Ballroom 'can very safely be called one of Wisconsin's finest, largest and most modern buildings devoted to dancing and entertainment. The brick, steel and concrete building aimed to be fireproof and included air conditioning. It also touted its 'vast dustproofed area for systemized car parking,' now known as a parking lot. The Riverside has hosted a lot of big-name performers and dignitaries since it opened, but none may be more widely recognized than the Feb. Richardson as The Big Bopper. The Winter Dance Party would be the second-to-last show they would play before all three were killed in a tragic plane crash on Feb. The Riverside also has hosted everything from boxing matches to a Hillary Clinton campaign stop during her presidential campaign. But first, its incredible story. On Nov. The Riverside also would host a Packers season kickoff dinner in , the year Vince Lombardi was hired as coach. And the Packers Hall of Fame would host its banquets there for several years in the s. The Riverside has its own marker and remains a stop on the Packers Heritage Trail. Contact Jeff Bollier at or jbollier gannett. Follow him on Twitter at JeffBollier. Green Bay's historic Riverside Ballroom has a new owner. Here's a look ahead and a look at the past. Facebook Twitter Email.

Maldonado buying snow