For this four-part series, we are discussing very common scenarios that we see in our trust administrations where real estate is involved. Real estate, particularly the family home, often has emotional and sentimental components that throw a wrench in trust administrations. Beneficiaries often have different ideas of what to do with the family home. We will continue using the same…
You may or may not already have your estate planned for when you die, but did you know that you can also make gifting your assets while you are alive a part of your estate plan? Most people are aware that you, as an individual, can gift up to $15,000 per year to any other individual without having to report…
The California State Controller’s Office administers the Property Tax Postponement program that allows eligible homeowners to postpone paying their property taxes on their primary residence. The program allows for the deferral of the payment and secures repayment by placing a lien on the property, or if the home is a manufactured or mobile home, by a security agreement with the…
Lisa stared at the stranger standing on her doorstep, suspicious. “Good morning, ma’am,” the man said politely. “I noticed you’re in need of a new roof. If that’s not in your budget, I’d like to tell you about an important government program that will loan you the money. And they don’t even run a credit check. If you have some…
Sally stared at the notice from the bank and frowned. “What’s that?” her husband, Bill asked. “Another bill for your dad?” Sally nodded. “But this time it’s his monthly mortgage payment. I wonder if we need to pay it. He’s only been dead five days. Maybe they aren’t aware of it.” Bill snorted. “Why pay the mortgage if he’s dead?…
The population of seniors in the United States is growing rapidly. Data from the U.S. Census Bureau indicates that people 65 and older will make up 20 percent of our country’s population by 2030. Along with this increasing population come increasing reports of elder financial abuse. It is only going to become more and more important for all of us,…
