This originally aired on the Catholic Faith Network's show CFN Live: https://youtu.be/_PeHZKOXFO8 You may be surprised to hear, but in my law practice, when I ask the client, “How is your home owned?”, some clients respond I own the house,…
When discussing estate planning and Medicaid planning, the phrase “life estate” is sometimes mentioned, but what does it mean? A life estate is a form of joint ownership of a property that allows one person to remain in the home…
If you are an estate trustee managing a trust or an executor of an estate that owns real property, you may need to sell the real property throughout the course of trust or estate administration. Before moving forward with the…
Medicaid is not in the market to own people’s houses. However, that does not mean that the value of your home isn’t exposed without proper Medicaid planning. An individual looking to qualify for Medicaid for either Community or Nursing Home…
Inheriting real property can change a person’s life for the better or for the worst. A common issue for those who inherit property is the decision to either sell or keep and maintain the property to generate rental income. Each…
Our firm often works with individuals who invest in rental properties. Sometimes, it is advisable to transfer the client’s interest in the rental property into a trust. When discussing your rental property(ies) with your attorney, it is important to provide…
For most people, the greatest financial asset they leave behind is real estate. Real estate is a lifetime investment and serves as a vehicle to pass down wealth to future generations. While the process of purchasing and maintaining real estate…
If you own a home, you likely are already aware of homeowners insurance and its importance in insuring your residence. However, what insurance, if any, should you have on a rental property? A standard homeowners insurance policy in most cases…
A reverse mortgage may benefit many people, but is it right for you? Factors to Consider Your desire for financial independence Your ability to remain in your own home for the rest of your lives Your need for supplemental income/improved…
In my experience (Deanna M. Eble, Esq.), one of the biggest concerns for clients, especially seniors, is that they do not want to lose their home to long-term care costs. An Example Recently I met with Sal. He has two…