Real estate transfers can be complex when it comes to estate planning. It’s very common for parents to pass down a vacation property or a family home. But it’s important to consider exactly how to do this, especially when leaving the home to multiple beneficiaries....
Month: January 2024
What you need to know about quiet titles
A quiet title action is a legal process used to resolve disputes over real property ownership and establish a clear title. When buying or selling real estate, ensuring that a property has a marketable title is important. Any claims, liens or competing ownership...
Preparing your children to take over the business
A significant number of businesses in the U.S. are started by families. As a business owner, you may wish to keep this going once you step down. While including your children in a succession plan can be beneficial, it’s important to prepare them as well as possible....
Pros and cons of a joint inheritance
When it comes to dividing up an inheritance, assets do not necessarily have to be divided between beneficiaries. This is often the case, as financial accounts may be split evenly or specific tangible assets may be given directly to one beneficiary, while another...
3 signs that it is time to update an estate plan
People who take the time to create estate plans can protect their loved ones and establish a legacy that has a positive impact on others. The most effective and beneficial estate plans typically include highly-customized terms based on an individual's resources and...
Don’t let your family business become a family dispute
There’s something about entrepreneurship that can't be found in a 9 to 5 job. Sure, risk is involved, but few things can match the feeling you get from watching a business grow from an idea into a successful enterprise. But what will happen to your business when you...
How can adding powers of attorney to your estate plan help you?
When planning for your future, it is important to consider how decisions will be made if you are ever unable to make them for yourself. One way to help ensure your affairs are managed properly is by adding powers of attorney (POAs) to your estate plan. A POA allows...
Irrevocable trusts are important in many estate plans
Estate planning is important for adults because it gives them the power to decide who is going to get which assets once the creator passes away. There are many components that people can utilize when they’re creating their estate plan. One of these is a trust. Trusts...
Tips for choosing an executor for your digital estate plan
During the estate planning process, it is important to have someone in charge of managing and executing your wishes regarding both physical and digital assets. For a digital estate plan, this responsibility often falls to a digital fiduciary—a trusted individual or...
Who can secure a mechanic’s lien?
Real estate construction projects, ranging from erecting brand-new buildings to remodeling projects, require investment and create a degree of risk. Property owners must hire professionals to complete the project. The funds that they deposit toward the cost of the...