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New York Laws and Legal Materials

Welcome to OVLG's New York laws and legal information center. Know state laws, legal information, court information, links to state government websites, and much more.

Overview of debt consolidation & settlement

Debt consolidation plans allow you to combine multiple debts of yours into a single and affordable monthly payment, which you go on paying until the balance reaches to zero. However, a debt settlement program helps you to lower your total outstanding balance by repeated negotiation.

Additional legal resources for consumers

  1. New York state debt collection laws
  2. Statute of limitations (SOL) on debt

New York bankruptcy laws

In the state of New York, filing personal bankruptcy (Chapter 7 or 13) can be an effective alternative to shed off your debt burdens if you’ve failed to overcome a debt crisis.

Key exemptions that you get by filing bankruptcy in New York:

Property owned and occupied as principal residence (whether an establishment on a separate land or a condominium unit) is exempt up to $10,000.

Professional tools and books:
Necessary tools of trade & professional instruments, furniture and books are exempt up to $ 600.

One motor vehicle worth up to $2400 is exempt.

» Know more about New York bankruptcy laws

Company formation in New York

In New York, a company can be formed by filing the required documents or forms with the Secretary of State. However, apart from just simple forms, an individual should further carry out some additional requirements and relevant statutory filing provisions.

Steps that involve an LLC formation

  • Specific responsibilities associated with an LLC
  • Choosing a name
  • Filing fees
  • Filing the articles of organization
  • Taxation of an LLC

» Details of LLC formation in New York

Steps that involve formation of Non-profit Corporation

  • Board of directors
  • Name of the 501(c)(3) corporation
  • Nonprofit certificate of incorporation
  • Meeting of the directors
  • New York state tax exemption

» Details of Non-profit Corporation formation

New York wills and living trusts

Will preparation is an essential step to determine who will inherit your property after your death. A will assures proper distribution of your property after your death. But did you know:

  • How a will helps you in New York?
  • What if you die without a will?
  • If an attorney was needed to prepare a will?

» Read more to know the answers

A living trust or Revocable Living Trust is a legal certificate that acts as the owner of your assets or property. However, though you grant the trust the ownership of your estate, you still hold the right to buy, sell, borrow or transfer. But did you know:

  • If you need a living trust in New York?
  • If a living trust can lower your estate taxes?

Additional State Legal Resources

Disclaimer: The aforesaid attorney is licensed to practice law within the state of New York only.

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