Recent Questions by Leigh

thank you. I am presently a partner in local law firm. ai was formerly a NY Superior Court Justice. I have a 401-K through my law firm. I would like to roll it over into an IRA with my personal financial advisor. is that possible without incurring penalties?
JA: Have you talked to a NY lawyer about this?
Customer: not yet.......wondered what the IRS rules were first
JA: The Lawyer will be able to walk you through that. What steps have you taken so far?
Customer: none. I am a NY lawyer but no expertise in this area of the law
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: only that I would like to remain with the law firm as a consultant and mediator........not an employee or partner

We live in a five unit townhouse complex. Can the Board of Directors do a Special Assessment to replace the roof of Units 2 thru 5 roof and not replace Unit 1 even tf
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: No. Just asked for meeting minutes. They had none
JA: Where is the property located?
Customer: 14730 South Normandie Ave. Gardena. A five unit comy
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: they are planning to use $17,000 of the operating fund in addition to the special Assessment

I live in NY but have rental properties in CT. I'm about to set up 4 LLCs for my 4 CT properties. I'm planning to set up a single business checking account, but maintain 4 meticulous spreadsheets of incomes and expenses for each property. I wanted to get some insight on whether this plan works from a legal standpoint.
JA: Have you talked to a lawyer about this?
Customer: No
JA: What steps have you taken so far?
Customer: I've searched for answers on the internet, and almost everyone seems to keep one business checking account across all properties.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No