Last week, we started our discussion about deeds, which are often one page documents, and how little changes in a few words can make a huge difference in the interest you receive in real estate. You may not be getting …
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Deeds Deeds and more Deeds
It has been a few years since I have discussed the details of deeds. If you own your own home you have probably seen a deed. It’s only one page long. How complicated can it be? The answer is: Very! …
Dresser Drawer Deeds
“I don’t have to worry about probate because I have a quit claim deed.” You have probably heard this statement from family or friends or have said it yourself. You may attempt to do your own mini estate plan by …
Funding Real Estate into Trust
You have your new trust, or maybe you have had it for years. You were told that your trust avoids probate, but only if you fund your trust. But what is funding? Funding is the titling of your assets consistent …
With Estate Planning Fees You Get What You Pay For – Part II
There are a lot of different types of estate plans being sold out there. It is best that you know what you are buying. In last week’s column, we discussed the three most common types of will estate plans that …
Understanding Step Up Basis
It’s tax time again. Last year in 2011 you sold dad’s house, which you received after dad died in 2010. Dad originally paid $5,000 for the property in the 1950s, but you sold it for $125,000, for a gain of …
Newlyweds Need Planning Too
You are about to get married or have just been married. Would you like your fiancé or new spouse to be able to make decisions for you if you became mentally incapacitated as a result of an accident or injury? …
Unclaimed Property in Michigan
Have you ever received notice from your bank saying you haven’t had a deposit or a withdrawal out of that account in a number of years and if you do not do a transaction soon, they will consider that a …
Feb Savvy Federal Estate Tax is a Voluntary Tax
You probably have not heard a lot of talk about the Federal estate tax lately. The most likely reason is that in our current estate tax system, your estate will only be subject to Federal estate tax if your taxable …
Elder Financial Abuse
According to the experts, financial abuse of the elderly is rising, even to epidemic proportions. When you hear of elder financial abuse, you may think of unscrupulous home improvement contractors, phony investment schemes or internet scams. However, it is reported …