Many sellers do work on their homes before putting them up for sale. They do so to get a better price and to avoid putting off buyers. Nevertheless, some buyers complete a purchase, only to be disappointed when they later discover a problem they feel the seller knew...
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5 essential tips for buying a second home in Delaware
Buying a second home is an exciting investment. Whether you're looking for a vacation getaway or a property to rent, Delaware offers unique opportunities. Here are five essential tips to keep in mind before making a purchase. Know your budget and financing options...
3 times to review your estate plan
If you’re worried that your estate plan may become outdated before you actually pass away, one tactic you can use is to carry out annual reviews. You can simply set up a schedule and go back over the documentation. If you think annual reviews are too frequent, you...
What are the limitations of a financial POA?
A financial power of attorney (POA) gives someone the legal right to manage your finances if you can’t do it yourself. This can be a helpful tool for planning, but it does have boundaries. You should understand what a POA can and can’t do in Delaware. Limits on...
What is a contingency clause?
Real estate transactions often include contingency clauses. These are used when a potential buyer makes an offer. They will have certain contingencies that have to be met in order for their offer to stand. For example, a contingency clause regarding financing is...
What Delaware families should know about Medicaid look-back rules
Medicaid helps many older adults cover long-term care. Before someone can qualify, Medicaid checks their financial history. This review includes something called the five-year look-back period that families need to understand to avoid delays or penalties. How the...
Why do you need a living will in Delaware?
A living will allows you to express your healthcare wishes in advance. Having a living will can ensure your medical treatment aligns with your values and preferences when you're not able to make decisions yourself. What is a living will? A living will is a legal...
How does estate planning reduce taxes?
Estate planning is an essential tool to help reduce the tax burden on your estate after your death. By setting up the right structure in advance, you can preserve more of your wealth for your heirs. Minimizing estate taxes through trusts One of the most effective...
How do you handle taxes after losing a loved one?
The legal and financial aftermath of losing a loved one often arrives before you have had time to process your loss. Tax obligations, in particular, emerge with unforgiving deadlines and complex requirements – creating a challenging time for those grieving. What the...
What does a home appraisal include?
Whether you're buying or selling a home, the appraisal plays a major role. It helps determine the property's fair market value, which lenders use to confirm the loan amount is appropriate. Knowing what the process includes can help you avoid surprises. Exterior and...
