inherited property

So You Inherited a Property. Now What?

Many families mistakenly believe that receiving an inherited property is as simple as listening to a reading of the Will and then that property magically belongs to you and you can do whatever you want with it. Sorry to burst that bubble, but a reading of the will is not a real thing – that’s…

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what is a non borrowing spouse of a Reverse Mortgage holder

What Is a Non-Borrowing Spouse of a Reverse Mortgage?

The federal government has expanded access to protections for the non-borrowing spouse of a reverse mortgage holder who is not named in the loan document, allowing more such spouses the ability to stay in their home if the borrowing spouse dies or moves to a care facility. Reverse Mortgage Protection Prior To 2014 A reverse…

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What to include in a will

What To Include In a Will – A Simple Checklist

The first question you need to ask yourself is if the last will and testament the only thing you need. The reason why most people don’t ask themselves this question is because they are not aware that there is anything else. In most cases, if you think you need a will, you probably need an…

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primary v contingent beneficiary

Primary v Contingent Beneficiary

What Is The Difference Between Primary v Contingent Beneficiaries? A primary beneficiary is a person or entity who is first in line to receive assets upon the death of the policyholder or account owner. A contingent beneficiary is a person or entity who is next in line to receive the assets if the primary beneficiary…

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who will inherit my house when i die

The Truth About How Your Assets Are Distributed After You Die

Does Your Will Determine Who Inherits Your Assets When You Die? Last month I discussed how clients are often unpleasantly surprised to learn that having a Last Will and Testament does not negate the need for probate. Many people also incorrectly believe that the Will is KING. They think that the terms of the Will…

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the reading of the will is not real

Who’s Invited To a Reading of the Will?

Have you heard of the “READING OF THE WILL”? Of course, you have! because it has been a scene in many TV shows and movies. After someone dies, the lawyer hosts a meeting in his (usually “his” because, well, you know, but that’s a topic for another time…) office. Everyone who had a relationship with…

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