Work Hard, Play Hard, and Give Back - A Real Estate Podcast

S3E9 - Contracts to Closings: Real Estate Attorney Ron Alber on Getting NY Deals Done

• Coldwell Banker American Homes

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0:00 | 46:26

In this episode of Work Hard, Play Hard, and Give Back – A Real Estate Podcast, host Mike Litzner sits down with Ron Alber, Real Estate Attorney and Founder of The Alber Law Group, to break down what really happens between contract and closing in New York real estate.

Ron shares practical insights on:
-The most common legal mistakes sellers and buyers make
-Why due diligence matters before listing or purchasing a home
-Certificates of Occupancy, permits, and how missing paperwork can derail a deal
-How agents, attorneys, and lenders can work together to keep transactions moving
-Staying calm and professional when emotions and pressure run high
-Estate planning basics every homeowner should understand
-Wild but true closing table stories from nearly 25 years in practice

Whether you’re a buyer, seller, agent, or investor, this episode offers real-world guidance to help you avoid costly mistakes and close with confidence.

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📍 Guest: Ron Alber, Esq.
🌐 Website: alberlaw.com
📞 Phone: 631-462-6900

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Meet Ron Albert And His Practice

SPEAKER_03

Hey, welcome to the Work Hard, Play Hard, and Give Back a Real Estate Podcast. I'm Mike Litzner, your host, owner, broker of Co-Well Banker American Homes. And I'm here today with our guest, Ron Albert, the Albert Law Group. Welcome to the show. Thanks for having me, Mike. Absolutely. Before we get started, Ron, I just want to um ask our audience if you like what we're doing here, like what you're seeing here, we'd love to have you for future episodes. Please like, subscribe, join us, okay? So, Ron, let's jump in, alright? So uh you're run your own uh law practice. Tell us about the Alba Law Group.

SPEAKER_00

I'd like to describe us as a uh family-oriented boutique law firm. Okay, and we focus and concentrate our practice in three different areas. Okay. Uh real estate, commercial and residential real estate, uh Will's Trust and Estates, and uh business law. All right, business law.

SPEAKER_03

Okay, that took me off a little bit. So very cool. Tell us a little, what what does business law really encompass?

SPEAKER_00

So I think there are a variety of components to business law. For us, it's a matter of taking a journey with a client. So many of our real estate clients will either own a business or be part of business. And so people who operate the smallest businesses to largest could be their succession plan. What's their plan if they look to retire? Uh are they selling? Are they growing? Are they trying to consolidate other businesses into one? So we help and uh advise clients in buying and selling businesses and uh and succession plans for retirement.

SPEAKER_03

Yeah. That's terrific. That's an end of the business I didn't really think of. I know uh we've obviously worked with you uh extensively at American Homes with the uh real estate side of the transaction. So that was something else to consider.

SPEAKER_01

Yeah.

SPEAKER_03

All right. Well, you you're known for treating your clients like family, Ron. How do those old school values shape a high stakes closing?

SPEAKER_00

Oof. Uh I think the best way is helping people ease their tension, become comfortable, uh, keeping in mind that what you and I do every day is not common for other people, just the same as we don't do what they do every day. And I think when you can bond with people on some common ground, and it helps take away some of the stress that they may otherwise have. You know, sometimes people feel like they're in the dark room looking for the light switch because they're in unfamiliar territory. So when you have the ability to connect with people on a an emotional level, I think uh it quells some of that stress.

SPEAKER_03

Yeah, you go.

SPEAKER_00

Yeah.

SPEAKER_03

So how have you been able to maintain that family environment as you have grown your business?

SPEAKER_00

It's a daily reminder. Um, if you were to visit my office, you'd see on the wall I've got uh pictures of my grandparents, my great-grandparents, my own parents and my uh nieces and nephews, uh some other people who've been very important to me, uh two people I lost that were close friends. And uh it just starts with daily reminders. You know, we're human beings, we're looking to help other human beings. And I think if you keep it in that perspective, um it helps you manage through some of the more turbulent borders to be who you are.

SPEAKER_03

Right.

SPEAKER_00

Right.

SPEAKER_03

Fair enough.

The #1 Legal Mistake Sellers Make

SPEAKER_03

So you've helped thousands of the clients over the years. What is the one legal mistake you see homeowners make most often that could easily be avoided with the right plan?

SPEAKER_00

Not doing their diligence before engaging in the process of either selling or buying their home. You know, the sets of legal hurdles that could face a seller or buyer are uniquely different.

SPEAKER_03

So for a seller, when you say not doing diligence, what would you encompass in that?

SPEAKER_00

So understanding what you're selling. You know, if you're selling a single-family home, understanding the legalities of what exist, uh, you know, things like certificates of occupancy, what improvements on the property have the required certificate of occupancy, what do not?

SPEAKER_03

Right.

SPEAKER_00

Are there any improvements that were created that may violate a setback? Uh either setback requirements by the municipality. Um there's been a conversion from oil to gas, did you have the proper paperwork? So, due diligence to me is engaging your team members who are going to help you in that journey and asking lots of questions. We actually provide our seller clients with a document called Questions to Ask Your Attorney.

SPEAKER_03

Okay.

SPEAKER_00

And that way it starts to get them thinking about maybe some information they honestly don't know, but they should start looking at.

SPEAKER_03

Right. So is is it true that um, or you know, I want to make sure I'm giving advice, but I usually tell our agents that the seller should be aware that the standard contract of sale typically has the seller represent that, you know, they're selling a legal dwelling, right? So not that you can't sell as is as is, but you know, though those the benefit of getting that term waived, you know, uh the representations of a legal dwelling, it's going to cost you money in resale cost, re-resale value and stuff like that. So when you know, how important do you think it is to get those the legalizations, the permits, the the certificates, the C of C, so to speak, on the on the property for all the additions, so to speak.

SPEAKER_00

The importance of knowing is the paramount importance. Right. Knowing what is and what is not there. That's a key. The second part as to whether we have to legalize it or not depends on the nature of the improvement. Right. There are certain improvements that are less of an obstacle. You know, for example, uh, you know, a modest sized deck, uh, a first-level deck may not be as problematic as uh an addition like a dormer or an extension. Right. And so legalizing the more problematic uh improvements on a property can certainly increase value and make the transaction more fluid.

SPEAKER_01

Right.

SPEAKER_00

Um some of the other more minor improvements it might be a little bit easier to get by, but knowing in advance helps everybody. It certainly helps us as attorneys.

SPEAKER_03

Right, right. Yeah. I think what I've seen also is that people start to look at what what will you term in our on our side, the real estate side, comps, you know. So they'll look at comparable sales and they'll see those prices and they'll want that, but then they'll say, Yeah, but with that uh project, I bought the house that way. And the fact that you bought the house that way doesn't mean it was legal if they didn't pick it up at that time. So if, you know, especially the longer they've been there, they were not as picky or as diligent. I don't know, right? Word uh thirty years ago as they are today. I think the banks are more demanding today than they were 30 years ago. So sometimes the banks will you get conditional conditions on that uh mortgage approval if the per purchases bank might uh you know not want to close or unless that uh certain items are accounted for. Is that a fair statement?

SPEAKER_00

I uh absolutely and I think but I also think that markets and market conditions shape what ends up happening. You know, during what I would call the you know COVID marketplace of the latter part of 2020, 2021, even 2022, very often there were lenders and buyers who were willing to overlook a missing certificate of occupancy for an improvement because they were eager to get the home that they were choosing. Right. We were in a market of escalating prices and values, and um, so that market condition, I think, shaped that. Many years ago, I think there was also maybe some different standards at the municipal level as to what was documented or not documented on a certificate of occupancy.

SPEAKER_01

Right.

SPEAKER_00

Today it appears in many municipalities that these certificates of occupancy have much more detail as to what was being legalized, less room for improvisation, I'll say.

SPEAKER_03

Yeah. Yeah. So let's just switch this

Biggest Mistake Buyers Make in NY

SPEAKER_03

around. You know, um, what do you think the biggest mistake, legal mistake, purchasers make? Let's you know, instead of looking at it from the homeowner, let's look at it from the buyer side.

SPEAKER_00

So again, markets influence decisions, and you know, understanding that, um, as as attorneys, those market conditions impact us greatly in how we review and and guide clients.

SPEAKER_03

Right.

SPEAKER_00

Because deals can either become much more frail or sensitive to negotiations. But for me, it comes back to establishing your team and getting good advice. So if a buyer is gonna be seeking uh a mortgage loan, they should have a competent team member that they can relate to on a personal level. Competency is one part, yeah. But caring and having that connection is a very large part because they're gonna be taking a journey, often purchasing one of the most in substantial investments of their life.

SPEAKER_02

Yeah.

SPEAKER_00

You need to have a good team member to tell you in advance that there are no hurdles in your credit or in your um in your income that are gonna impede you because nothing more disappointing than going out, finding the home that you think you're gonna love and being unable to close it or having a much more expensive uh experience.

SPEAKER_03

Let's switch this one

The #1 Legal Mistake Agents Make

SPEAKER_03

more time. Yeah. What's the biggest mistake you see agents make in the transaction?

SPEAKER_00

Being underprepared. Okay. Being underprepared or allowing emotion to control too much of the communication process. We're all human beings. Every single person in the transaction is a human being.

SPEAKER_02

Yeah.

SPEAKER_00

We're all subject to the pressures of each market that we're in. And I think sometimes it would be more beneficial for a cooperative conversation before a reactionary dialogue.

SPEAKER_03

Yeah.

SPEAKER_00

Yeah.

SPEAKER_03

It's it's not easy when when your whole uh month's income might be tied up in a deal sometimes. So so they do get emotional and they they they have buy-in, they know how much work they put in.

SPEAKER_00

So it's not just for their own um interest, sometimes it's emotion for their client.

SPEAKER_01

Yeah.

SPEAKER_00

You know, they've taken the client to see a dozen homes, two dozen homes, they've been looking for five months, ten months, and that buyer now is emotionally feeling, is this ever going to happen for me? And when you think you have a transaction, it looks like it's going to be the transaction, and it starts to slide, you know, that's when the cool hand prevails sometimes.

SPEAKER_03

Yeah, yeah. That's that's a very easy to overlook piece of advice, but that's it's a very sage advice. It's the the I see the experienced agents keep a cool head when things get dicey. And and and honestly, the big part of brokerage from my vantage point is it's that transaction management. It's not just showing a house or finding a house, it's and negotiating it, but it's transaction management, getting it from the point of of yes, right? Yes, we'll take your offer to to actual the closing table, you know, where everyone, you know, the deal actually transacts.

SPEAKER_00

So and you know, there's there's also this knock-on domino effect, you know, pressure is all around.

unknown

Right.

SPEAKER_00

The home seller may be under pressure, right? Pressure that we don't know about.

SPEAKER_01

Right.

SPEAKER_00

And so the listing agent is now absorbing some of that pressure to help their homeowner, and that leads to putting pressure on the selling agent.

SPEAKER_01

Right.

SPEAKER_00

The selling agent now feels that pressure and knows the pressure the buyer's already under, but doesn't want the buyer to lose this transaction. And so this knock-on effect, it can be tough, and that's why when we're in transactions with really good people and good professionals all around, from the agents, the brokerage firms, the attorneys that are involved, and the loan officers, cooperatively, we're typically able to get the parties to a transaction that they may not otherwise be able to do themselves. Yeah. Yeah.

SPEAKER_03

It's interesting. I always tell my agents, you know when you've done a good job. When you get to the closing table, and they're literally, if if your client hugs you while giving you a check for $10,000, $15,000, $20,000, if they're handing you money and hugging you and saying thank you, that's when you know you did a good job. Yeah, well, it's the human connection. Yeah, exactly.

SPEAKER_02

Yeah.

SPEAKER_03

That's that's the goal every time.

SPEAKER_02

Yeah.

SPEAKER_03

So get the hug.

SPEAKER_02

Yeah.

SPEAKER_03

Get the hug.

Balancing Advocacy With Momentum

SPEAKER_03

So, Ron, as a team player, that's how we know you. You're one of one of our preferred attorneys for uh Cobalt Banker American Homes. As a team player attorney, how do you balance being a fierce protector of your clients' interests while still keeping a deal moving forward uh smoothly?

SPEAKER_00

It's a great question. So I have this um this quote that I you know I use often um when I think circumstances warrant um juggling different different priorities and perspectives.

SPEAKER_03

Yeah.

SPEAKER_00

And I say I have three people to keep happy in every transaction. In truth, it really should be four, but there's three people the client, the person who referred the client, and my malpractice carrier. And I say that in jest because sometimes we want to make it happen. We understand that everybody wants to make it happen, right? But there's a a pressure or calculated risk that merits a little bit of a pushback to say, yeah, we're gonna take some risk, but it can't be all of this risk because that's unfair, and that unfairness needs someone to stand up for it. And I think this is a position where I'm uniquely positioned to do that standing up.

SPEAKER_01

Yeah.

SPEAKER_00

And at times it happens, and uh, but rarely do I see a deal crater or fall apart because of it.

unknown

Right.

SPEAKER_00

You know, the pressures in the markets again are different. So in some markets it'll be, hey, if we don't have that signed contract by five o'clock, we're moving on to our next offer.

SPEAKER_03

Right, right.

SPEAKER_00

Now, in a deal that's been negotiated over the past three days of contract negotiations, and you know, we're first in goal, right? That's a tough, that's a tough comment to make. And so those are times where we have to decide is this worth fighting for or not. And we have those conversations with the clients to make sure they're aware of the risk because at the end of the day, we're not the decision maker as the lawyer.

SPEAKER_03

Right, right.

SPEAKER_00

We're an advisor. You're counsel. Yeah. And I tell clients that listen, my job is to be your advisor. I'm not the boss, you are.

SPEAKER_03

Right.

SPEAKER_00

But if there's a step that I think that you're mistaking, I may pause you and say, I think you need to think about this, or tell me that you understand the risk that you're taking. Right. And at the end of the day, that's what it comes down to because we all have different risk profiles, and you can't impose your risk calculation on your client. Yeah. Because they may be right and you may be wrong.

SPEAKER_03

Right.

SPEAKER_00

Or they may be willing to take a risk that to them is not as grave as you are.

SPEAKER_03

I've done that. I've uh heard my attorney out on a transaction and said, I don't care. I already counted that, counted that in, and I'm doing it anyway. They look at me and like I know exactly what's what you're saying. So you know what's interesting? It's um I I also hear from agents, it's like there's a fine line between referring attorney and you know recognizing that they have a fiduciary responsibility. So at the end of the day, um, I always tell our agents, you know what? I don't ask an attorney to, you know, who's we refer or be a preferred attorney. I don't ask them to do magic. I don't ask them to do fraud, right? They have to honor their fiduciary duty. But there's a difference between, you know, being broker friendly, respectful. You know, there's there's attorneys out there that are don't really cover that first part of it. And I I I I always scratch my head and say, why why? It does cost. Yeah. It doesn't cost anything to be respectful to everybody. It's that's ego. Yeah. Yeah. Yeah. But it's I think it's easy if you can explain to the agents, hey, look, there's a line here. I I I have to protect my client just like you have a fiduciary. Every agent has a fiduciary duty in the transaction. I'm sure you have every once in a while you have to remind them.

SPEAKER_00

Listen, it's no different than it's no different than in my own office. So we have we call it the three C's.

SPEAKER_03

Yeah.

SPEAKER_00

Care, communicate, and be competent.

SPEAKER_03

Yeah.

SPEAKER_00

And so communication is often the biggest gap that gets filled. So I think when there's communication, a lot of that goes aside. And there's an element of trust. You know, when you're a broker owner or you're an agent and you're making a referral to a vent uh of a vendor to one of your clients. Right. Right. Whether it's an attorney, it's a loan officer, there's an element of trust. You're trusting their competency, you're trusting that they're going to communicate, and you're trusting they're going to care about the client that you send over. Very much. For me, it starts at its most basic level. I'm an extension of my parents and my family.

SPEAKER_03

Right.

SPEAKER_00

When you refer somebody to me, how I treat them is going to be reflected on where I came from.

SPEAKER_01

Right.

SPEAKER_00

And so we try to do things that say we come from a good place, we're somebody who can be trusted, and we care. Tough to do when you're under lots of stress and under lots of deadlines, but nevertheless, if you're genuine and authentic to what you are, it's going to lead to better communication with your agents, your brokers, because of the communication part.

Wild Closing Stories You Won’t Forget

SPEAKER_03

So, all right, here we're going to pivot a little bit here. Been practicing law for how many years now? 20 uh it's going to be 24 years. Alright. So you've been at a few closings over the years. A couple. Uh just a couple, all right. What's the craziest story at a closing you can share?

SPEAKER_00

So we have a few we have a few that are. Everyone's always got a few. A few that would be tied are tied for first. Um some of them a little uh tough. Uh we had a fist fight at a closing. All right, that's always fun. There was an arrangement between an elderly seller and um I would say a young aggressive investor buyer.

SPEAKER_01

Okay.

SPEAKER_00

And this elderly seller brought along a younger person to make sure that everything went the way they were promised. It appeared that there was a promise that was broken, and the two gentlemen stepped into the hallway, it didn't go well, and the uh the young investor found himself in a very precarious situation. Uh I'll let you know that deal did close, by the way. Okay, there we go. A little muscle in the right place. We had uh we had somebody pass away during a walkthrough before closing. Ooh, okay. Yeah, that was um that was a tough, tough case. Yeah, yeah. Um, and then on a slightly different level, we had somebody who was selling their home who was going through a divorce, yeah, who thought it would be a good idea to bring their new significant other to the closing. Okay. Yeah, and uh led for a very colorful closing. Yeah, yeah.

SPEAKER_03

Yeah.

SPEAKER_00

But that closed as well.

SPEAKER_03

All right, there you go. As long as you get to the finish line, right? Sure.

Wills, Trusts, and Estates

SPEAKER_03

All right. So you teach, let's gonna we're gonna pivot really to a different side. You teach a class for uh American homes, but I'm sure you do it for the public too, on Will's trust in estates. I know it's very well received from our agents. So um what are the most common questions agents ask in those classes?

SPEAKER_00

What happens if someone passes away without completing an estate plan?

SPEAKER_02

Okay.

SPEAKER_00

Um what happens uh how do assets get divided amongst maybe a current spouse and children from a prior relationship? Okay. Uh how do you protect assets as you get older in the event that long-term care becomes a reality for you? Yeah, that's a big one. Because the number one, I would say, consistent goal I hear from clients and the agents during these classes is they want to safeguard legacy that they leave for their family and friends and make it as efficient as possible. Right. That's like the the pinnacle of what they ask. Yeah.

SPEAKER_03

Yeah. Well, you work your whole life, right? For your equity, so to speak. And you know, you you would like to make sure that your family gets a piece of that action, so to speak, at the end of the day. So good planning goes a long way. All right. So estate planning can be an emotional topic. How do you use your problem-solvable mindset to make these uh complex conversations more approachable for families?

SPEAKER_00

Connect as a human being first. Clients care about what you know, but they care about how much you care first.

SPEAKER_03

Yeah.

SPEAKER_00

So I make it a point. There's three words I use in every consultation in my own head that I don't I don't say out loud.

SPEAKER_03

Okay.

SPEAKER_00

Word number one is listen.

unknown

Okay.

SPEAKER_00

First thing I do is listen. Less important to tell the client all this information about documents and tools. I listen. I listen for cues about them, their family dynamic. Are they married? Do they have children? What's the family unit like? Are there any um impaired or disabled persons within the family unit? Are there any concerns that are so important that they come out the first time they're meeting me? So the first part is listen.

SPEAKER_03

Okay.

SPEAKER_00

And not listening to respond. It's a different listening.

SPEAKER_03

Yeah.

SPEAKER_00

It's listening to listen. You want to hear what your client says. Word number two is educate. Okay. After you've heard your client repeat a few things back to make sure that they know that you've heard what they have to say and that you've heard it correctly.

SPEAKER_03

Okay.

SPEAKER_00

And then I s say, you know, I'd like to give you a little education or provide you with some information on what is estate planning? What does it encompass? What's the most important part of your planning? Because as I tell clients, the most important part of your plan is not where does your stuff go when you pass away. Right. It's you. Right. How do we keep you alive and healthy? How do we make sure that you're cared for while you're here? So listen, educate, and the last piece is advise. Right. And after I've gone through listening with the client and giving them some education, and I put it back to the client to tell me in their words what is the most important thing or things that you want to achieve, I give them advice on how they may want to achieve that.

SPEAKER_01

Right.

SPEAKER_00

And uh we do a few things uniquely different.

SPEAKER_03

Okay.

SPEAKER_00

Um we never collect money up front from an estate planning client.

SPEAKER_03

Okay, good.

SPEAKER_00

We don't make them sign a retainer agreement.

SPEAKER_03

Perfect.

SPEAKER_00

We give a fee quote, it's good for as long as I'm in business. If you come in this year and you don't come see me for five years, the price quote that you got this year was the one that you pay, even with prices go up. Very important that clients not feel pressured about doing an estate plan. They have to feel right, they have to feel good, they have to feel that they understand it and they have to trust you and connect. The human connection part cannot be discounted. I took a view, I guess now it's a little over ten years ago, in marketing our firm as meet your new attorney for life.

SPEAKER_03

Okay.

SPEAKER_00

Concept behind that was to connect with people beyond a single transaction. Okay. So that when a client comes in, it's not a matter of transactional hand me money, I hand you paperwork. It's an investment in relationship. So when you're connecting on these topics like death and disability, which in and of itself can be depressing topics, we use human connection, humor where it's needed or appropriate, and anecdotal stories of other clients, obviously unanimously. Ananimously, so they don't, you know, can't reveal confidence. Of course. Um and sharing those stories and sometimes stories of personal loss, you know, like you and like everyone else, uh, I'm no stranger to loss either. I've seen loss of life, I've seen loss of health. And um, when you're able to connect with people on that, puts them at ease. And I have a little joke that I tell them, which is uh, do you know why you buy a snowblower? It's so it doesn't snow. And this year's storm I attribute to a client recently who was in the office who told me he refused to get a snowblower this year, and what happened? We got a blizzard. So yeah, we buy the snowblower so it doesn't snow. We do the estate plan so that we never have to use it.

SPEAKER_03

Yeah, and if we ever do, it's there ready. How much does the pivot from the consumer come down to immediate health concerns? Do you have someone that comes in that's somewhat uh somewhat healthy, but then they're a little reticent to move forward, so so to speak, or there's that resistance, you're not sure. Maybe it's their own internal uh voices. I we always talk about the voices in our heads that tell us our our stories. So then health changes.

SPEAKER_00

So we have three types of clients. The the the one client is the one who's seen what happens if you don't do it.

SPEAKER_03

Right.

SPEAKER_00

They've either been impacted by it directly with their own family or friends, and it has sobered them to say, I need to make this decision. That's happened to my family. The second type of client is proactive and says, you know, I'm not gonna, I've put it off too long. I need to do these things. And the third type of client is when I get the call from the hospital, the nursing home, or the rehab center. And often those are less referral-based and more emergency uh internet search based where who can help me in this circumstance. You know, I go to emergency rooms, I go to hospitals, I go to nursing homes, rehab centers, I go to visit people in their home. Uh two days before Christmas Eve, I had a very difficult home visit that sat with me. Um, it hit me pretty hard. I actually reached out to the family the next day to check on how the mom was doing, and she was in the hospital. Yeah. And um it's I'd be lying if I said to you that there isn't a certain amount of weight that comes with caring.

SPEAKER_03

Yeah.

SPEAKER_00

Because you start to take on the um the emotional stress of your client. But back to your question. Uh many people wait until it's too too late. And um we're not too late, but very late, and it compromises the ability to achieve what would have been their main objectives. And now you're engaging in crisis planning instead of proactive planning.

SPEAKER_03

It's it's I think it's the uncomfortableness, maybe that's what it is. You know, having done a will. It's like I remember being a bit younger, and it's like the the conversation is like, you think you're gonna live forever and stuff, but when kids come around and what have you, it's like the reality is like you gotta make sure that you know you you have a plan.

SPEAKER_00

Yeah. Who's gonna be the guardian of your kids if you have minor age kids? Who's gonna manage the money?

SPEAKER_03

Yeah.

SPEAKER_00

Because if you don't do the plan, do you or is there an unintended audience that's gonna be managing your legacy for your children?

SPEAKER_03

Yeah.

SPEAKER_00

And that can be problematic.

SPEAKER_03

Very.

SPEAKER_00

Um so we're seeing I'm definitely seeing a uh since COVID, I've seen a much greater um interest in proactive planning. Right. I think people have looked around and seen tragedy and said, Yeah, I'm not gonna wait any longer.

SPEAKER_03

Good, good. I think that's a positive thing that came out of that.

SPEAKER_02

Yeah.

SPEAKER_03

So

AI’s Role In Law And Real Estate

SPEAKER_03

Ron, uh AI has been the topic, a big topic on um in the real estate side of business. As a matter of fact, so much so that um our company has invested to give uh the Gemini uh pro version of AI built into our platform for every one of our agents to use and help, you know, have been working uh uh uh diligently in developing efficiencies and what have you. What have you seen on the legal side? What impact on the legal field andor your practice as AI had on?

SPEAKER_00

So I think that's gonna be um I think it's gonna unfold. There are some challenges and dilemmas um with artificial intelligence being used in the legal community due to concerns about confidentiality and where is this data, is it redacted, when they receive it? So I think as they work through some of those ethical considerations, which I think will be addressed and resolved, I think you're gonna see artificial intelligence used in document review. Okay. Generating summaries of documents. Um I'm a believer that there is no substitute for good personal human connection.

SPEAKER_03

Yeah.

SPEAKER_00

But I think it's going to proceed, by the way. Yeah. I think it'll support uh the practice in terms of possibly creating summaries and document review, um, obviously marketing.

SPEAKER_02

Yeah.

SPEAKER_00

Effective use of it. We we have a client who um is the founder and CEO of a publicly traded uh AI company. He's a tremendously humble human being, very intelligent, uh obviously, professor at a college, and he founded this company that was recently taken public. And I've consulted with them as as with others on where its appropriate use will be in the practice. So we'll definitely look to incorporate it as part of our practice, but not to replace any human connection.

Practical Advice

SPEAKER_00

Yeah, I think that's smart. Yeah. I think that's smart.

SPEAKER_03

All right, Ron, for our audience that's here that maybe is not quite ready to hire an attorney, is there any steps they can take maybe independently right now, you know, to help them with the you know estate planning going forward?

SPEAKER_00

Great advice you can give them? Great question. The answer is yes, absolutely, and it's part of each of the classes and seminars that we give.

SPEAKER_02

Right.

SPEAKER_00

Step number one, organization beats beats many, many things. So every single financial account that a person has, whether it's a checking account, a savings account, an IRA, a 401k, an annuity, any sort of a financial investment or financial account of any sort, organize a list of those accounts, the institution that they're at, the account number, the type of account. We provide at our seminars a free form that people can use. There's not a lot of magic to it.

SPEAKER_02

Right.

SPEAKER_00

You can create a simple spreadsheet or table, even if it's handwritten. So you're organizing where the accounts are located, the type of account, and the account numbers. Second step, then make sure that at each of those financial institutions, if there's more than one, that you have what's called a beneficiary designation on each account. You can't blanket it per institution, each individual account. So for example, you could list as a primary beneficiary, one or more people, and then if for some reason those people predecease and they're unable to receive, you can often have contingent secondary beneficiaries. By achieving this, those first two steps of making a list and setting up beneficiaries, family and loved ones can avoid something called the probate process for those assets. So that little bit of organization saves thousands of dollars and months of time. Okay. Because probate is not difficult, but it's also not prompt and it's not free. There is a cost, even at the court level, when you try to do it for yourself. Right. And the process is a little technical. So those are the first two things. Number three, if someone resides in the state of New York or has resided in the state of New York, take a look at the New York State Comptroller's website and search New York State unclaimed funds.

SPEAKER_03

Okay.

SPEAKER_00

Check your name. Maybe you're owed money. If you're owed money, get the money now and spend it. Use it.

SPEAKER_03

Right, right.

SPEAKER_00

Um because if you don't do it now, and it's discovered after someone passes away, you need to do an estate administration proceeding in order to get to those funds. Right. Another thing on the term of organization, if you have a house that you own, get a copy of your deed.

SPEAKER_02

Okay.

SPEAKER_00

Have your title policy. If you own a vehicle or have a lease, get the title for the vehicle. Organize these files in a central location so that if God forbid something happen, your next of kin or your family members have an organized way to address these things for you.

SPEAKER_01

Right.

SPEAKER_00

Um another thing I'm a really big fan of, um, kind of an old school concept, but something that I believe in, is uh either crafting a letter, or whether it's by hand or it's typed out and put in an envelope with your important papers that organize your wishes. What are your wishes as to finality of your remains? What are your wishes as to the accounts? Now, while we can't create a a last will and testament like that, or a living trust, you can provide lots of clarity and organization to the people who are now in the significant grieving process in the wake of your loss, right? So definitely organization would be my number one. But those are things that everybody can be doing, they cost you zero, and it'll help your family prepare.

SPEAKER_03

That's great advice. I appreciate you sharing that with our audience. So it gives us gives us all some good direction and homework to do, so to speak.

Soccer & Family

SPEAKER_03

So, you know, to try to move to a a little lighter side of the uh our of our episode, we like to, you know, also highlight the human side, the play hard side side of uh of life. So rumor has it you're a huge soccer lover, and you even met your wife, uh Sue, through the sport at Hofster. Is that true?

SPEAKER_00

Uh prior to Hofster, but yes, we met through soccer, yeah.

SPEAKER_03

Okay. Was it was it that that drew you to the sport? Or that's where the girls, that's where Sue was. Uh, so I guess I'm into soccer, or is there something more to it?

SPEAKER_00

It's it's a great question. It's one we get all the time, and I embellish my answers depending on the crowd to see how I can entertain people. Yeah. Uh truth for me is that as a young kid, walking through wall boums and uh kicking around a little bouncy ball, getting in trouble.

SPEAKER_02

Yeah.

SPEAKER_00

Um people said you should sign them up for soccer. And um soccer has provided me more in my life than um than many things. It it provided me with a network of people that are irreplaceable memories over the years of wife. Yeah, well, my wife in later years. I mean, my wife's my wife's career is just you know, high school all-American, college all-American, former professional soccer player, U.S. women's national team camp, um, on the front cover of a book. She's she's traveled for Hall of Fame. She's in a storied uh journey. But for me, uh I founded my my soccer school when I was 16 years old, just before my 17th birthday.

SPEAKER_03

Yeah.

SPEAKER_00

And uh formally didn't incorporate till two year two years later. But we built out this club, and the irony of this is that uh I only met my wife through somebody else, and her brother at the time was going to college with my brothers.

SPEAKER_02

Okay.

SPEAKER_00

And uh we actually reconnected on that first when he was thinking of going to law school.

SPEAKER_02

Yeah.

SPEAKER_00

And um I got to meet Sue, and I was enamored right away, and it's been it's been great ever since.

SPEAKER_03

Yeah, there you go. All right, so here's the question. I kind of think I know the answer to this, but so between you and your wife, who's the better player? Oh, no competition there.

SPEAKER_00

I lose that battle. She's she's got the trophy.

SPEAKER_03

Yeah, yeah. I kind of caught that as you were talking about like did you mention Hall of Fame there?

SPEAKER_00

Yeah, she's in a few. Um I our biggest rivalry was that she's on the front cover of a book, and uh nobody wants to put my face on a front cover of a book. So uh I'm in a book that was recently published by an ESPN writer. Um he's a great young writer. He was actually a former player in the program. Okay. And um so that was my way to say to my wife, see, I'm trying to catch you in something.

SPEAKER_03

There you go.

SPEAKER_00

Yeah.

SPEAKER_03

So uh obviously, with such a busy practice, what does a perfect off-day Sunday look like in the Alba family?

SPEAKER_00

So I'm an old school traditionalist. There you go. So lots of videos circulating out there with Cobalt Banker agents and I on Sundays who share this value. But I like to cook with my kids.

SPEAKER_02

All right.

SPEAKER_00

Um we prepare, you know, homemade pasta and homemade meatballs and different traditional dishes together with music playing, and uh in my ideal Sunday would be family and friends over, having a meal and getting a chance to uh to separate from the chaos of everyday life.

SPEAKER_03

All right, so this kind of fits into my next question, and I had a feeling what's the one Italian dish you're definitely cooking to impress anyone or everyone?

SPEAKER_00

That's a tough one. There we go. They're all good. Um There are no bad ones. Listen, I I I think that if you stick simple, there's nothing like homemade pasta. Homemade pasta, you pick it, it's it's it's light. After you're done eating it, you don't have that that full, like have to go lay down feeling.

SPEAKER_03

Is there a certain flour or something you recommend over and stuff like that?

SPEAKER_00

So we'll use double zero flour and then I'll mix in semolina flour to kind of give some texture, depending if I'm making a red sauce on a Sunday. Uh obviously it'd be a little different if we were making uh you know a dish like linguinium clams, but yeah, yeah. Yeah, which is my favorite, by the way. Ah, okay, there we go.

SPEAKER_03

There we go. So um, all right, so if um we uh are hungry on a Sunday, on a weekend, we now know where to go. We're on the way to the Alba House. I'm now hungry. I can hear my stomach now picturing the linguinian clam sauce.

SPEAKER_01

That's great.

Giving Back

SPEAKER_03

I want to kind of pivot a little bit to uh giving back, you know, and stuff. So um you've been involved in coaching local youth soccer. Um what's what's the most rewarding part of giving back to the next generation through sports?

SPEAKER_00

Emotional topic for me. Uh I the text messages I receive on a regular basis from former players who've continued um on great journeys in their life. Yeah. Um I recently received a text, it's probably about a month ago now. One of my former players who graduated in 2019. She played on one of my national championship teams, and she got into medical school and she sent me a beautiful text message. Wow. And I haven't seen her um since probably 2019, 20-ish, maybe a little bit after that. Um so I haven't seen her in a while. But for her to reach out and send me the note, her actually, her senior assignment, I used and I think this is relevant. I used to give my seniors something I call the senior assignment.

SPEAKER_01

Okay.

SPEAKER_00

And seniors, by their very nature, we tease them about having what we call senioritis.

SPEAKER_02

Okay.

SPEAKER_00

Right? Because they're eager to get to college, mentally tired of what they're doing in high school, they've committed now and they've got all the glitz and glamour of the next chapter.

SPEAKER_01

Yeah.

SPEAKER_00

And we know what they're gonna find out is they're gonna miss the chapter they're in.

SPEAKER_01

Yeah.

SPEAKER_00

Because you know, the grass is green where you water it. Right. And sometimes you look ahead and you forget to enjoy where you are at that time. And uh her senior assignment brought tears to my eyes when I read it. And so one of the things I would do is let's say we had practice on a on a Thursday, from Wednesday or Thursday, and say, all right, next week, fitness training, if you want out of fitness training, key words for any senior.

SPEAKER_02

Yeah.

SPEAKER_00

Um, here's your senior assignment. Bring me up to one page, something uh in writing. Right. What, if anything, has motivated you to be better than average in your life? If the answer is nothing has, be honest, write the word nothing and hand it in, and that'll be your pass to get out of fitness.

SPEAKER_03

Okay.

SPEAKER_00

Because it really has nothing to do with fitness.

SPEAKER_03

Right.

SPEAKER_00

It has to do with getting someone to think about things that we're not thinking about actively during most of our lives. And she wrote um an incredible um one-pager on the sacrifices that her mother had made so that she could participate in sports, okay, have the equipment, travel to the trips, and stay at the hotels because they financially it was not an easy task for them. And so for her to do well would be a testament to her mom.

SPEAKER_03

Yeah.

SPEAKER_00

And uh it was pretty powerful. And so there's the same girl that got into medical school.

SPEAKER_03

I give the kid credit because a lot of kids don't always understand the struggle, you know. You know, I don't know if they pay attention to that degree or not.

SPEAKER_00

I've been spoiled. You know, I've had a lot of really talented young people, some amazing families. Um, you know, when you're dealing with coaching someone's child, yeah, you're either going to become a very popular person or a very unpopular person.

SPEAKER_01

Yeah.

SPEAKER_00

And the more competitive the team is, there's a natural tension that coexists, even if you don't see it, between a parent's love for their child and the competitive face of the team.

SPEAKER_03

Right.

SPEAKER_00

Some days they're in line, some days they're not. And the ability to see that um and do your best and be comfortable with whatever whatever action you take, that's that's a big part of it. So it's terms of the giving back. For me, it's walking through the food store and seeing a former player.

SPEAKER_02

Yeah.

SPEAKER_00

For me, it's getting a holiday text from somebody I haven't seen in ten years. Yeah. Or just admiring from afar when I get to see them achieving success and say, I knew that kid was special and I knew they were gonna go on to do great things. So very, very big. Enhance my life. It's gonna be part of my book when it comes out, but it's uh big chapter.

SPEAKER_03

Beautiful story, I like it. I'm I appreciate you sharing that with us. So um, you know, uh we obviously run our own foundation here at American Homes called the Heart of American Homes Foundation, and you've always been a strong supporter of that, and you know, uh involved with our fundraisers and what have you. So what what other charities are close to to the Alba family heart?

SPEAKER_00

Children's Hospital of Philadelphia.

SPEAKER_03

Okay.

SPEAKER_00

We lost the child in our family um in 2019, and that hospital was great to her. There is uh organization Little Flower. Uh when when my wife and I got married, we donated uh there. And uh there has become a new organization that's become dear to my heart, Hope for Warriors.

SPEAKER_03

Okay.

SPEAKER_00

So I have a friend of mine who's very passionate about service and living a life of purpose. And Hope for the Warriors is uh an organization that helps with a soft landing for people who either served in uh in combat, in the armed forces, and it's kind of expanded its way out to law enforcement and first responders. And seeing his passion for that, it's something that we've stuck our toe in the water to see can we contribute and make a difference, and it's been great. Um I also do believe though in looking at it at my own clients, not just big organizational charity. We have some pretty cool things we do with estate planning for people where um we have a substantial pro bono practice, okay, but it's a kind of a cool pro bono practice in that it's spontaneous.

SPEAKER_03

Right, right.

SPEAKER_00

There are times that I surprise myself and the client with a pro bono plan or legal service, yeah. And uh getting that reaction is is what makes it worth it.

SPEAKER_03

Yeah, yeah, that's beautiful. Thank you. In your view, what is the most important way a local business owner can improve the community that they that they serve in?

SPEAKER_00

Understanding your community, and I know that sounds like a general question, but for me, when I left Manhattan to open my law practice, I opened a Comac for a reason. Okay. I grew up in Comac, so I felt that I had um connection. A real connection to the community, its purpose. One of the things I admired, every community has something special about it, and um but only the people of that community can fully grasp what that specialness is.

SPEAKER_01

Yeah.

SPEAKER_00

And um Um in Comac I I've seen what Comac was like in uh you know over the past uh forty years uh plus and uh I've seen a little bit of a transition, you know, you can see changes in the neighborhood, but the culture of the neighborhood becomes important. And I think that while the culture of a neighborhood like Comac to East Northport might not vary as much when I'm representing clients outside of our neighborhood, there are some differences that it's important to understand.

SPEAKER_03

Yeah. It's time

Drop the Mic

SPEAKER_03

for the drop the mic question. Before I jump into the drop drop the mic question, I just want to remind our audience if you like what we you're hearing today, please like and subscribe. We'd love to have you at future episodes. So, Ron. We hear you actually won a best dress costume at a great Gatsby themed party last this past year. Is that outfit standard issue for closing attorneys?

SPEAKER_00

Well, I have to give some credit to my wife on that one. Okay. Um there's twofold of credit there, and then I think Gail Carillo gets the other part of that credit. Yes. So the credit to my wife is those shoes that I wore. Oh, yeah. Uh those are closed.

SPEAKER_03

By the way, I think we got a picture of them for our audience to enjoy.

SPEAKER_00

So the credit my wife gets is she hates those shoes and she has not thrown them out yet. Okay. So uh she's tolerated them. So we bring them out when I feel I need to either uh get a rise out of her or my kids. Uh I think I have a picture of one of my daughters wearing one in one of my suit jackets with a tie on, walking around in my shoes. The second part is I said, Listen, I have a special event to go to for Gail tonight, and I need um I need a I need a new hat.

SPEAKER_02

Yeah.

SPEAKER_00

And she said, All right, let me go out and get it. And so Gail inspired the moment, and my wife said, I'll uh I'll step up and make you rise to the occasion.

SPEAKER_03

Yeah. What a great event. I thought you uh keeping those shoes in case the the roaring twenties come back. I'm waiting. Ron, you've been a great guest. I appreciate you being here and sharing some great insights with our audience. All right. And if anyone's interested in finding out more about either real estate closing, legal advice on Will's trust and estates, how do they reach Ron Albert at the Albert Law Group?

SPEAKER_00

So you can go call us at six three one four six two six nine zero zero or visit us at alberlaw.com.

SPEAKER_03

Perfect. Perfect. Thanks so much for being a great guest today.

SPEAKER_00

Thank you guys. Appreciate being here.