Probate is the process by which a court will supervise the administration of an estate when someone passes away. Many clients prefer to avoid probate because the process can be time-consuming and costly. This article will examine the various ways probate can be avoided. Joint Tenants with Rights of Survivorship.…
Like all other unique forms of real estate ownership, Co-Op Housing presents some interesting difficulties for those in the real estate market. The end of World War II marked the beginning of an acute housing shortage in the United States. Returning servicemen and woman, many of whom had lived with…
One of the most important, but most often overlooked estate planning documents, are the Powers of Attorney. Powers of Attorney fall into one of two categories: (1) Powers of Attorney for Property and (2) Powers of Attorney for Health Care. Essentially a Power of Attorney legally authorizes a trusted family…
The Reverse Mortgage has gotten a bad reputation in the time since it was first created by the Federal Housing Administration in 1988. The mere mention of the Reverse Mortgage usually brings to mind foreclosed homes and declining financial health. In fact a Reverse Mortgage is simply an equity loan…
When clients think about Asset Protection Off-shore trusts or some elaborate scheme of trusts and other entities usually come to mind. However, there are several vehicles that are less complicated that a client can use that will probably suffice for her protection. Here are some strategies that are not complicated and…
Many times clients will call our firm and state that they need a Power of Attorney for their elderly relative because he/she has dementia or some other condition which causes diminished capacity. Unfortunately, depending on the current mental capacity of the relative, it may be too late for them to sign…