Contrary to popular belief, estate plans are not just for the rich and famous. Most people have at least one thing of value — such as money in bank account, a car, a home. The reality is that many people could benefit from having an estate plan in place. Not only can it help maximize the actual … More Ten Common Estate Plan Mistakes to Avoid
Estate planning is the process of drafting documents that set out instructions regarding what happens when a person dies or becomes disabled. Many individuals procrastinate when it comes to their estate plan. However, procrastination can cause significant issues, including: Process of Probate In some situations, a decedent’s estate may not have to go through … More Don’t Procrastinate – Plan Your Estate!
As the real estate market in the U.S. has made a strong recovery, some outside of the United States have begun to look again at U.S. real estate investments as a possibility. This article from HG.org offers some sound advice for those foreigners who want to own a slice of America. Unlike many countries that … More Can Foreigners Buy Real Estate in the United States?
There have been an increasing number of people that have been scammed when seeking a rental. This article from CNBC will give you some signs to look out for so that you don’t become the next victim. Renting an apartment or a single-family home may seem easier than buying one, especially as so much of … More Ready to Rent an apartment or home? Beware of these new scams!
The kids will get it anyway once I die, so why not transfer my home to them now. God forbid I get sick and require long term care, I don’t want the equity in my home to go towards these expenses. This may sound like a good idea, but there are unforeseen pitfalls to be … More Thinking of transferring your house to your children? Think Twice!
A plan to ease banking regulations has passed its first hurdle in the House of Representatives. This Fox Business article explains the changes that will occur if the bill passes the Senate. The House of Representatives passed the Financial Choice Act recently, a bill that would significantly roll back a multitude of financial regulations implemented … More Dodd-Frank on its death bed? What you need to know.
Brokers Beware! This article from Curbed NY explains why brokers should resist renaming neighborhoods as part of their marketing plan. What’s in a neighborhood name? A lot, at least when it comes to New York real estate. The practice of brokers giving existing neighborhoods new, ridiculous monikers is not quite as old as time, but … More Rebranding neighborhoods may land real estate brokers in legal trouble
This recent article in Forbes.com offers some creative options for those struggling to come up with the down payment needed to purchase their first home . When Gallup polled Americans recently about what they consider the best long-term investment, more picked real estate than chose stocks, bonds or gold. Yet a handful of startups are … More Millennials Get A New Way To Clear The Down Payment Hurdle To Homeownership
While joint ownership of real estate is a popular method for avoiding probate in the event of an owner’s death, this arrangement also has its drawbacks. Generally, real estate may be seized or at least considered as an asset for all owners, including joint owners who were added to a title for the very purpose … More The Revocable Trust: A Better Option to Joint Ownership
Originally posted on Bill Reinhardt's Law Blog:
When two or more individuals own property — whether it’s a condominium, a home, or a piece of land — the relationship between the owners is very important. The form of ownership of the property affects how property is transfered to someone else. It is important to make…