Ever toured a home and gotten a sneaking suspicion that the sellers were going to leave a lot of useless junk? If the seller intentionally leaves personal property behind, it could be considered “abandoned.” That means you now own all that stuff, and you’re on the hook for cleaning it out.
One common mistake that we see homeowners make is failing to take advantage of the “Homeowner Exemption” on their annual real estate taxes.
Like any real property, a home is subject to annual real estate taxes that are assessed and collected by local governmental authorities. Homeowner exemptions can
Let’s say you’ve known for years that you are inheriting your father’s home when he dies.
Hopefully, you also know that he has a will that indicates clearly that the house will go to you.
Many people who have an estate plan have created a living trust (also known as a declaration of trust). But one thing many people forget is rather important: funding their trusts.
Estate planning attorney Robert Ross explains which assets you may wish to retitle into your living Trust.
Vacation rentals, whether near the ski slopes or on the beach, can be a great way to create memories with family and friends. It’s never been easier to find the perfect place at an affordable price thanks to websites like Airbnb and VRBO. As with everything else, though, there are potential legal issues you want … Read more
The home market is still hot, but, certain mistakes can turn buyers off, cost you thousands of dollars, or even squash a deal altogether.
When you inherit a home and sell it, you pay capital gains tax based on increase the value of the home after the date of the owner’s death. For example, if you inherit your dad’s vacation cabin, and it was worth $300,000 when he died, and you later sell it for $325,000, you’ll pay tax … Read more
For a limited time, investors can help reinvigorate distressed communities while deferring capital gains on profits earned elsewhere. The 2017 Tax Cuts and Jobs Act created the Qualified Opportunity Zone program in order to offer tax incentives for investment in economically blighted communities. When you invest in an Opportunity Zone, you can defer and possibly … Read more
Think it’s just your business’ data being stored in the cloud these days? Think again. Some (or all) of the provisions of your contract with your cloud provider also may be “floating,” and can thus be changed at any time, often without notice to you.