According to a recent survey conducted by lawyers.com fewer Americans are doing basic estate planning. In 2007, 64% of adults had an estate plan whether a basic will or trust. The current percentage of those with an estate plan is 51%. It is thought that the recession has kept more Americans from focusing on this. … More A well thought out estate plan can prevent nasty family feuds.
The annual exclusion for gifting to an individual is $13,000. For every dollar you go over this limit, you will reduce your lifetime exclusion of 1 million dollars. So lets say you decide to give your daughter a gift of $100,000 this year because she needs the money to pay off creditors, you will need … More The gift tax and you.
You may think that a document as important as a living trust would be required to be filed with the Court or at the County Register’s office. This is not the case. Thus, it is crucial that you keep this document in a safe secure fireproof location such as a safe. Make sure that the … More Are Living Trusts Filed Anywhere?
Receiving your loan approval letter doesn’t mean smooth sailing to the closing table any longer. Fannie Mae has instituted new guidelines that calls for an 11th hour inspection of finances. This strategy was set in motion to counter those buyers who were approved for a loan and then went out and made large purchases … More More Closing Jitters