Would you buy a home where a death occurred? What about if it were a suicide or a violent homicide? Would those factors deter you as they would some buyers? The question is relevant, as the states have different death disclosure laws when real estate is sold and...
Residential Real Estate
The differences between charitable remainder and charitable lead trusts
Charitable trusts are useful tools for those who want to support a cause while also managing their finances. Two of the most common types are charitable remainder trusts and charitable lead trusts. While both involve giving to charity, they work in very different...
When should young families consider an irrevocable trust?
As a new parent, estate planning may not be high on your priority list. You may be focused more on other financial concerns, such as mortgage payments, childcare costs and career progression. Irrevocable trusts – legal arrangements where you permanently transfer...
Can home sellers patch up defects?
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...
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If you’re worried that your estate plan may become outdated before you actually pass away, one tactic you can use is to carry out annual reviews.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...
