Owning a vacation home can be very beneficial. Not only can it help you save money in travel expenses, but you can also make money by renting it out during the rest of the year when you're not using it. However, owning property in a different state than your primary residence can cause minor complications with your estate planning. Here's what you need to know so you can make the necessary adjustments now to avoid problems later.
25 September 2017
It's generally easier to inherit real estate property that's been paid off. All you need to worry about in this situation is paying the property taxes and maintaining homeowner's insurance. Unfortunately, with today's economy, you're just as likely to inherit a home with a mortgage attached, which can complicate the inheritance process. Here are three options for handling this particular situation. Pay Off the Loan Using Available Assets Possibly the easiest option is to pay off the loan using other assets that may be available.
16 August 2017
As the executor of an estate, you may have some concerns about how to handle certain situations. Rental properties can pose unique challenges, and having a knowledgeable probate attorney to guide you along is always advised. But here are five things you'll need to consider when dealing with rental property in North Carolina. Title How the title was held by the decedent is one of the first things to consider with a rental property because it will affect how the property is sold or transferred.
14 August 2017
One of the biggest commitments you will have to make while starting your business is signing a commercial lease. Depending on the terms of the lease, you could be locked into it for years. Therefore, it is important that you take negotiations with the landlord seriously. Here are some tips to help you during those negotiations. Do Not Negotiate in Panic Mode Negotiating while in panic mode can give the landlord the upper hand.
12 August 2017
If you are going to buy a new house, there are things that you should definitely do. Doing those things can make your entire purchase go smoother and let you get into your new home faster. Hire a Realtor One thing you should do is to hire a realtor. Working with a realtor means that you are going to get access to more houses than you would otherwise be able to see.
10 August 2017