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...
Medicaid Planning
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...
Five clauses to review before signing a purchase agreement
When you're buying a home, a purchase agreement sets the stage for the entire property transaction. Also known as a residential purchase and sale agreement, this legal contract spells out the vital details: how much you're paying, how you'll pay, any conditions that...
What unmarried couples should include in their estate plans
Unmarried couples in Delaware face unique challenges when planning for the future. Without a legal marriage, partners do not automatically receive the same rights and protections as married couples. An estate plan can help secure a partner’s financial and personal...
What is a dynasty trust and how can it benefit your estate plan?
Have you ever wondered how to protect your family's wealth for generations to come? A dynasty trust might be the answer you are looking for. This powerful estate planning tool can help you preserve your assets and provide for your descendants long after you are gone....
