When you have real estate assets and you want to leave them as an inheritance to certain family members, it's crucial to do estate planning. Not having your wishes in writing can put the real estate (or sale proceeds) at risk of getting into the wrong hands. Thorough estate planning ensures that the people you want inherit your estate. Without estate planning, the laws of your state govern your estate when you die.
As parents, you may decide you want to pass on your real estate holdings to your children. To figure out the right way to pass along property, without incurring excessive taxes or mortgage liabilities, you should do some estate planning with the help of an estate attorney and accountant. When you change the title of a property to the name of your children without proper planning the cost basis becomes the property's original value as opposed to that on the day of your death.
A bank account holder asks about online banking and overdraft protection saying he recently paid a high amount of fees. Banks and credit unions offer different kinds of overdraft protection and electronic banking. But no matter what kind of overdraft protection you have, you need to know the fees the banks charge. Take charge of your personal finances by using online banking to monitor when the money is in your account.
When you go through a divorce you may need to hire a real estate agent to help you sell the home you shared with your soon-to-be-ex-spouse and also to help you buy a new home. Each real estate agent uses different techniques to do his or her job and sometimes the person going through the divorce may have a hard time with some of them. Who can help you in such a situation? It helps to contact attorneys specializing in divorce and real estate prior to selling a home.
When you get divorced, the person whose name is on the mortgage loan is responsible for that debt, even if both people's names appear on the title to the home. To change the names on a mortgage loan, the loan must be refinanced. Depending on how this asset, the home, is divided between the two spouses during a divorce, it could affect their credit histories and credit scores.
Going green at home includes recycling and reusing materials, helping you save money and the environment. Going green at home could also include paying bills electronically which would help you save money. If you're going green at home you will also save money.
A woman getting divorced says her ex-husband is buying her share of their home through a quit claim deed and will refinance the home. Ilyce advises her to put the quit claim deed in trust until she gets the money from her ex-husband. Otherwise, the woman may not see the cash after handing over the quit claim deed and having her husband buy her share of the property.
Marriage means compromise when it comes to personal finances. Two people often enter a marriage with differing views on personal finances. Sometimes the differences are so great that the married couple needs to consult a financial advisor in order to create a united view on their joint personal finances.
When you get divorced you may have to sell your home. Depending on how the home was owned each spouse should receive a fair share of the home sale profits. If during the sale, your former spouse forges your signature on the home sale documents, it may be considered fraud. It's critical that you meet with a divorce attorney to understand your rights and ensure that you get the money that's due to you and the money from the home sale is handled correctly for taxes.
When someone dies without a will the estate of that person goes through probate according to state law. How can family members enable a home sale when the legal status of a relationship is unclear? Hiring an estate attorney can help sort out such a property transfer after probate.
