Category: Elder
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Snowbird Estate Planning for a Changing Environment
If you move with the seasons, your retirement and estate planning needs special attention — now more than ever. This article provides some considerations for snowbirds in changing times.
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Social Capital: What’s the Deal With Senior Co-ops?
Many people talk about living in a retirement community at some point in their post-retirement journey. But what’s out there for middle-income seniors who (a) aren’t positioned to pay a fortune for housing, and (b) don’t need constant nursing care? Some seniors, looking for a frugal and socially appealing alternative to life plan communities, opt…
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Quitclaim Deeds and Senior Homeowners: Convenience with Caution
When someone wants to know which kind of document makes it easy to pass real estate ownership, the quitclaim deed comes to mind. Convenient? You bet. And quite often, this convenient document is the senior’s deed of choice. This is because so many seniors decide, at some point in their lives, to transfer their homeownership…
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Seniors Make Moves to Beat the Rush for Retirement Housing
And here they come… The most senior boomers will celebrate their 80th birthdays within a year. Seniors typically move to retirement living in their mid-80s. Droves of seniors will soon approach that milestone. Can the current system of retirement living in the United States meet Boomer Capacity? The short answer: No. So here’s what seniors…
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Transfer on Death Deed: Second Thoughts?
Avoiding the probate courts is an important goal for some homeowners. That’s why the transfer on death deedhas achieved popularity. One by one, most states have now adopted the option. Sometimes called the TOD deed, or just TODD, it offers a relatively simple way for a deed holder to say who’ll get the deed next.…
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Meanwhile, in Ohio…Seniors Get Warnings of Deed Wholesaling Scams
In Ohio, seniors are being warned of unexpected offers from real estate marketers who want to buy homes. The state’s Real Estate and Professional Licensing body as well as the Department of Aging and Richland County are all working to warn deed holders about the growing problem of wholesaling schemes. Older homeowners are impacted the…
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What’s “Undue Influence” in the Transfer of a Deed? Massachusetts Appeals Court Speaks
A homeowner transfers a deed. But someone else in the deed transferor’s circle isn’t too happy about who got it. Was the deed transfer fair? Yes, it was, if that’s how the owner wanted to pass property along. Of course, that assumes that the person signing the deed away knows the property’s value, and the…
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Turning a Hotel Into Homes for Seniors, Vets in Palm Beach County
Palm Beach County, Florida is about to lose 1,000 affordable units over the coming five years. Why? Agreements with developers established restrictions that reserved affordable units for 15 to 30 years. Those restrictions are about to expire. This comes at a time when Palm Beach County will need nearly 81,000 new affordable housing units to…
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Older Adults, Look Out for These Two Common Deed Bloopers
What are the most common fumbles older adults make with deeds? Let’s take it from the top.
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Reverse Mortgage Problems: When to Stay, and When to Walk Away
Reverse mortgages are designed for senior homeowners. They’re advertised as a super power available to longtime deed holders. The idea? When you’re low on cash, tap into your many years of equity-building. Draw financial strength from your property’s value. Sounds good, and yet pitfalls await the unwary. Reverse mortgages allow borrowing to increase, and home equity…
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Life Estate Deed or Living Trust: Which Path Is Right for Your Home?
It’s never too soon to plan out the transfer of your deed after you pass. One way to do it? The tried-and-true method of writing your last will and testament and including your home in it. You have other choices, though. The life estate deed and the living trust are popular vehicles for a deed…
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What Is a Senior Citizen Tax Work-Off for Property Taxes?
There’s a trend taking shape across the country. Seniors are working off part or all of their property tax bills. Some jurisdictions, like Pennsylvania, have passed laws to encourage local tax collectors to set up work-off initiatives in their cities or counties. In other cases, a school district might set up these programs on their…
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The Compass Real Estate Company Is About to Open a New Division Just for Boomers
Compass is launching a new division to guide and serve senior clients. The agents who sign up will be certified by the Society of Certified Senior Advisors. Here’s the latest.
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Senior Deed Transfers: Is Capacity In Question?
When an older adult transfers property, sometimes questions come up about whether the deed holder had legal capacity to transfer it. Did the person grasp the meaning of the transfer? Was the transfer voluntary? A court could undo a problematic deed transfer in a quiet title action. But deeds are presumed valid. If they’re properly…
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Does Starting a Mortgage Later in Life Make Sense?
Some older adults might wonder. They also might wonder if the bank will want to lend to them. There are plenty of good reasons for older adults to buy homes. People over 60 make up about a third of the population of home buyers. That’s because starting a mortgage and acquiring a deed can be…
