The last several weeks, we have been discussing getting care assistance in your own home. Since you have raised your family in your home and spent most of your adult life there, you had planned on living there until you …
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Joint Ownership Fraught with Peril
Last week, we discussed financial powers of attorney and how they are increasingly being dishonored. You may think that you have the answer to the problem by using joint ownership. You may have been told by the teller that with …
Keeping Home in Family Easier
Starting January 1, 2015, keeping the home in the family has become easier. Many family transfers will no longer result in the uncapping of the property taxes, making the property more affordable for the family. Since Michigan adopted Proposal A …
Funding Real Estate into Your Trust Not as Simple as a Quit Claim Deed
You have your trust. You felt pretty good having it done. But then you were told that your trust will not work the way you want it and avoid probate unless you fund it. But what is this funding and …
Is Your Home an Asset or Liability
Home ownership, the American dream, or is it? Last month, we discussed how many seniors are simplifying their lives and downsizing their homes, oftentimes foregoing home ownership altogether to become renters. The Federal Reserve recently reported that the increasing real …
Homeowners May Not Be Responsible for Acts of God
We’ve had a few pretty big storms lately. Along with these storms have come lighting strikes, wind micro bursts and high winds. This has resulted in a number of downed trees. You may have had that ancient oak tree around …
Downsize and Simplify
You are still living in the home in which you raised the kids. It is the family homestead. You have lots of memories in that home. The kids moved out decades ago. You do not use or need the other …
Diversify With Real Estate
You have your CDs, stocks, bonds and mutual funds. Real estate is one way to diversify your investment portfolio. There are still some bargain deals out there and you have always wanted to be a landlord. Just like with any …
Spring Cleaning for Your Records
It’s springtime. It is that time of year to start cleaning out the closets, the garage and the shed, all of which over the winter had become a repository for all that stuff that you just didn’t have the time …
TIPA 2014 Extenders
On Friday, December 19, 2014, President Obama signed the Tax Increase Prevention Act of 2014 (“TIPA”). As part of TIPA, the Feds changed the tax laws for 2014 retroactive to January 1, 2014. TIPA reinstates certain tax breaks for individuals …