Estate planning becomes a complex and intricate process when faced with the prospect of partitioning a large piece of land among many heirs, especially when dealing with several children and grandchildren. If you add to this a strained relationship between a parent...
Month: December 2014
How estate planning can improve your finances in Delaware
In Delaware, the median household income is $79,325, according to the Census Bureau. Your income can play a large role in your finances but is not the only consideration. For example, investments, real estate and expenses may affect income. Estate planning can also...
Title defects you may face when buying a new Delaware home
Buying a new home in Delaware is exciting, but it can come with challenges, like dealing with title defects. These issues with the title can affect your property rights and cause problems later on. Land Title Guarantee Company reported that title defects are quite...
Red flags to watch for when buying a new home in Delaware
Purchasing a new home in Delaware is an exciting venture, but it has its fair share of challenges. A home is a big investment, and you want to make an intelligent decision. While the prospect of owning a new home can be thrilling, you must approach the process with...
What are the parts of a will?
Creating a will helps ensure that people distribute assets correctly after an individual's passing. This legal document outlines how the living can divide up that individual's property and possessions among heirs. To understand this document fully, it is important to...
Home purchase considerations after age 65
Buying a home after age 65 involves unique considerations whether you want to relocate or downsize. Understanding common concerns can help you make the right decision. Evaluate important factors for senior home buyers for a smooth transition into this new phase of...
Making a caregiver agreement comply with Medicaid
Caring for an aging or infirm loved one can go on for many years, so you may forego opportunities to earn money so you can provide care. This is why some families create a personal caregiver agreement to compensate a relative for the services provided. The problem is...
4 trending scams aimed at older adults
As technology advances, so do the tactics of scammers seeking to exploit vulnerable populations. Unfortunately, one group that often falls prey to these schemes is the elderly. Seniors, with their limited exposure to the digital world, become easy targets for cunning...
Key parts of an estate plan
Planning for the future is important, and creating a comprehensive estate plan is an important aspect of that preparation. An estate plan ensures that your wishes are honored and your assets are distributed according to your preferences. Last will and testament Did...
When should adult children not take over a family business?
Many small business owners put aside making hard decisions, such as who to designate as a successor. In fact, an Exit Planning Institute survey found that 83% of businesses do not even have a written transition plan. If you want to name a successor, you might be...