With home prices rising exponentially, the supply of affordable homes has dropped significantly over the years. The scarcity of safe and reasonably priced housing is hurting more potential homebuyers almost daily. Potential effects go past individual prospective homeowners, with increasing consequences for the society as a whole. How Rising Home Prices Are Affecting Home Buying Successful homeownership fosters economic well-being. Homeowners have a high likelihood of investing in their … [Read more...]
What Is a Probate Caveat?
Posted on January 11, 2021 //
A probate caveat is a formal notice questioning the authenticity of the will and requesting the court to halt the probate process until the issue is resolved. The purpose of this notice is to keep the proposed administrators or executors from obtaining permission to administer the deceased person’s estate assets until the dispute raised by the person who filed the caveat is resolved. Who Is a Caveator? A caveator is a person who lodges the probate caveat. The caveator presents his or her … [Read more...]
Should You Buy That Fixer-Upper?
Posted on December 17, 2020 //
Buying a fixer-upper can help a home buyer get a great deal on a new home. However, doing so may come with serious repercussions if the home buyer does not do proper research and understand what the process entails. From accurately evaluating the need for repairs, to ensuring the home’s price is low enough to bring a profit after the purchase, buyers need a clear understanding of what they are facing before purchasing a home that needs a lot of work. Proper Home Valuation Is Needed First, … [Read more...]
Why Advanced Directives Are an Important Part of Estate Planning
Posted on December 10, 2020 //
Advanced directives outline a person's wishes and designate a surrogate decision-maker to take care of medical and financial decisions if a person becomes incapacitated and cannot make these decisions on his or her own behalf. They also protect an individual's wishes for end-of-life care and interventions. What Is an Advanced Directive? An advanced directive provides a person's family and medical providers with his or her wishes in regard to medical treatment and interventions and … [Read more...]
Including Gift Authority in a Power of Attorney
Posted on November 20, 2020 //
Gift provisions in powers of attorney limit agents from making gifts if such ability is not desired. All powers of attorney should include specific gift authority clauses to provide the necessary authority to the agents. Failure to include these provisions could subject the agent to action for making an inappropriate gift or deprive the estate of property that was intended for another person or purpose. Issues with Failing to Include Gift Authority A recent court case examined these … [Read more...]
