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Tenancy in common (TIC) is a legal setup that is sometimes used for property ownership. Multiple people can all own the property together, and they can have different levels of investment. They could split ownership equally, but they’re not required to do so. For...
Every adult should really have an estate plan. Yet, if you have dependents, it becomes even more important as they rely on you. Here are some of the reasons why making an estate plan will make things easier for them Someone to care for them if you pass before they...
One of the key goals of many people as they create their estate plan is to avoid having their estate go through a long, complicated probate process after they’re gone. This can be time-consuming and costly for loved ones. It can also delay inheritances being passed...
If you and/or you and your spouse are entrepreneurs, you might want to establish a jointly-owned family enterprise that you can pass down to your children. Building an empire for the next generation is an excellent way to establish a memorable legacy. Furthermore, you...
You have the option of implementing a trust into your estate plan. A trust is a legal document that arranges for a trustee to manage your assets and disperse them as instructed. Compared to a will, a trust can protect your assets from estate taxes, probate and...
When an individual acquires real estate or property, they are expected to make monthly mortgage payments to the bank until they fully own the property. If any issues arise and the debtor fails to make payments, the creditor has the right to seek a lien on the debtor's...
You’re interested in running a business, and you’ve recently purchased some real estate. You think that the building will be perfect for your company. It will take some mild renovations, but you’re willing to invest the time and effort. Unfortunately, you’ve...
There are numerous scenarios in which a seller might list their property in as-is condition. Buyers purchasing from a lender who foreclosed on a property or an estate may notice language indicating that they agreed to purchase the property as-is. Essentially, the...
Changing the structure of your business can unlock new benefits and help you stay competitive in the ever-evolving entrepreneurial landscape. This process involves reorganizing the internal legal and financial structure of your business, to enhance its efficiency. The...
A will is an important legal document for any estate plan. The purpose of a will is to help decide how a testator’s assets are managed after they pass away. The testator can name an executor of the estate and beneficiaries in their will. Unfortunately, many people die...
