Many buyers from nearby states are discovering the advantages of owning a second home in Delaware, whether for leisure now or retirement later.. Moving from a big city to communities like Camden or Lewes takes planning. Knowing the tax rules, timing your purchase and...
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...
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...
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...
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...
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...
If you’re worried that your estate plan may become outdated before you actually pass away, one tactic you can use is to carry out annual reviews.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...
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...
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...
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...