A Reverse Mortgage – an Elder Law View – Pros and Cons
Reverse mortgage Pro's A reverse mortgage provides fast access to your equity. The mortgage is typically not paid until you die. Proceeds can be used for in-home care if you do not qualify for, or cannot get adequate in-home care, keeping you out of a nursing home for...
Indebtedness
Uncovering Hidden Assets – The Real Estate Trust – Taroff Taitz LLP
Attempting to hide assets from creditors (con't) Today's example of how some people attempt to hide their assets is a Real Estate Trust. Some debtors legitimately cannot pay their debts. The law provides the bankruptcy process to help protect them. Our goal is...
Introduction to Reverse Mortgages, an Eldercare Perspective (con’t.)
How much can I borrow with a reverse mortgage? How much you can borrow, depends on several factors. The age of the borrower. The older the borrower, the more that can be borrowed. Current Interest Rates The lower the interest rate, the more that can be borrowed. The...
Introduction to Reverse Mortgages from an Eldercare Perspective
Elders often struggle to find the resources to stay out of nursing homes and stay in their home, but still, need In Homecare. A reverse mortgage can be used to help make that happen. Medicaid can be used to pay for nursing home care, but stay at home care can be...
Uncovering Hidden Assets – The Trust Fund – Taroff Taitz LLP
Attempting to hide assets from creditors (con't) The Trust Fund Another more complex way people hide assets is by using a trust fund. Those people with a good amount of money may donate large amounts to a trust such as the Multi-Generation Trust where the children or...
Difficult Debtors – Hiding assets with gifts
One way debtors may try to hide assets is to gift them to trusted friends or relatives so they are exempt from creditors. Sometimes gifting these assets can cause problems if the person selected does not want to return the gift later on, and the gifter never...
Recovering Difficult Debt – The Ways Assets Are Hidden
Many people try to hide their assets in an attempt to evade losing them in the judicial process. There are several ways that people go about this process. Some people may use the names of relatives while other may even have different aliases and social security...
Where Should I Keep My Will? – 6 Questions For A Wills and Trusts Attorney
So now that you have your will, where do you keep it? It is highly recommended that your intended heirs have the contact information for your attorney and that your attorney keep a copy of your will. You should keep a copy as well. It should be kept safe in someplace...
How Else Can I Avoid Probate? 6 Questions for a Wills & Trusts Attorney
In addition to a revocable trust, one of the easiest and most expedient ways to avoid probate is to name a beneficiary and add alternate beneficiaries within any financial securities you own. For instance, if you have a retirement account like 401(k), I.R.A.’s or...
Recent Comments