Category Archives: Estate Planning
WHAT IS A REVERSE MORTGAGE? DO I NEED A REVERSE MORTGAGE?
What is a reverse mortgage? A Reverse mortgage is a mortgage lien placed on your house to secure a promissory note for money a lending company lends you, which is no different than a regular mortgage. The difference is that with a Reverse mortgage there are no required monthly payments. Your obligations when you have… Read More »
SHOULD I TRANSFER MY HOUSE TO MY KIDS?
SHOULD I TRANSFER MY HOUSE TO MY KIDS? This question, in its various forms, is a regular question amongst most elderly people. The question is short and straight forward. The preparation of the deed (Quitclaim Deed) is easy and fairly inexpensive. Not discussing the potential implications of such a simple transaction with an attorney prior… Read More »
WHY YOU NEED A WILL
Attorneys are often asked by clients if they need a Last Will and Testament, even when all their assets are owned in survivorship with another or have a designated beneficiary who will receive the assets upon the death of the owner. There are good reasons to have a Will as discussed below. The only assets… Read More »