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By Fate Kersey
There are a number of advantages to selling real estate through a trust. First, it will avoid probate. Also, transferring your home to a trust allows you to avoid paying ad-valorem property taxes. Second, a homestead trust allows you to keep the homestead value up to $25,000 and preserve the...
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By Fate Kersey
If you want to sell your property in California, you must get your spouse’s consent before completing the sale. The consent must be provided before the court allows the sale to go through. Your spouse may also sign a power of attorney that permits the sale. A home rights order...
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By Fate Kersey
When a person dies, they usually have a will. However, some assets are excluded from being included in a will. One example is property that is jointly owned. When this happens, the property passes automatically to the survivor. This means that you might not be able to receive your share...
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By Fate Kersey
A transfer on death (TOD) deed is a form used to transfer property after a person’s death. It must be signed by the Beneficiary and filed with the county clerk of the county where the property is located. It is important to know that a TOD deed is revocable, and...
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By Fate Kersey
A trust is a legal document that provides the beneficiaries with financial protection. Its creator appoints a trustee, which takes responsibility for managing the trust’s assets. The trustee receives a fee for his or her services. Beneficiaries, on the other hand, receive the trust’s income and property. Trusts can be...
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By Fate Kersey
Medicaid is a government health insurance program that covers the costs of medical care. The program is available for individuals and families who meet certain requirements. Eligibility requirements vary by state. Some require that you be a U.S. citizen, while others require a permanent or indefinite presence in a particular...
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By Fate Kersey
There are some situations when it is not possible to have the same lawyer represent both the vendor and the purchaser. These situations include family transfers, which are not considered arm’s length transactions. When this happens, the attorney has to choose a third party. This attorney is not allowed to...
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By Fate Kersey
Veterans with Medicaid coverage often have complicated health needs. As many as forty percent have at least two chronic conditions and more than half have a disability. Another 12 percent have a severe mental illness or substance use disorder. Medicaid beneficiaries may also face challenges with access to care due...
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By Fate Kersey
Refinancing your mortgage is a great way to save money. Depending on the circumstances, you can get a full percent reduction from your current rate or a smaller reduction. Smaller reductions can be justified if you plan to stay in your home for a long time. Generally, it takes 20...
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By Fate Kersey
You’ve probably heard of probate and wondered how it works. Probate is the court process that determines who gets what after someone dies. However, it can be complicated. While most assets go through the court, those that are not probated bypass this process. Instead, they pass directly to the beneficiaries....
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By Fate Kersey
A guardianship hearing is a legal proceeding that takes place in a courtroom. The hearing is typically informal, with parties sitting at tables in front of the judge. Attorneys ask questions of the parties. The ward’s attorney may also ask questions. Witnesses may also be called. The petitioner will then...
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By Fate Kersey
If you are a family member, the term “incapacitated” can be frightening. Your elderly parent may be suffering from dementia, or another condition that prevents them from exercising good judgment. Either way, if you feel that your parent might be incapable of making decisions on their own, you may wish...
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By Fate Kersey
In order to make a guardianship proceeding expedient and effective, the process must be carefully prepared. The purpose of Article 81 is to limit the interference with the life of the AIP. Therefore, the judicial system must make all appointees from the appropriate list. However, the court must exercise discretion...
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By Fate Kersey
What happens when you die without a will? Intestate succession laws govern what happens to your estate if you have no will. Intestate succession laws specify who will inherit your property. Survivors, siblings, and friends will inherit your property, but if you have no children, the state will take the...
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By Fate Kersey
The question of what happens to the funds in a Special Needs Trust (SNT) when the beneficiary dies has a complicated answer. It all depends on how the SNT is set up. The money belonging to the beneficiary should not be placed in the same fund as third-party funds. And...
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By Fate Kersey