Elder Real Estate Information Series
We're pleased to launch our Elder Real Estate Series today. Who should read it?
- If you're 50+, this series is dedicated to you.
- If you're under 50 and interested in looking at your lifetime financial picture, excellent! Join us on the journey.
- If you're concerned about keeping an elder person safe from manipulation, or just want to be able to discuss finances with an elder in your life, you'll also want to read our series.
So, continue reading as Deeds.com covers the ins and outs of:
- Steering clear of frauds and scams that target the baby boomer generation. The assets accumulated over 50 years can make the boomer a target for exploitation- and that sometimes includes the transfer of property deeds. Heading off common problems that arise after delegating Power of Attorney. What are the most common pitfalls that show up when someone else has Power of Attorney? What solid preventative measures can you take?
- Enjoying your golden years with a paid-off mortgage. When you've made that final payoff, what do you need to remember in terms of taxes, insurance, and taking over the fees associated with ownership?
- What a reverse mortgage can do for you. How does a reverse mortgage open up new opportunities? What are its effects on the real estate title- now, and in terms of your long-term estate planning?
- How your estate planning should be taking shape. At age 50+ we start thinking seriously about how to pass along big assets like real estate. What are the pros and cons of transfer on death deeds, ladybird deeds, trusts, wills, and other popular estate planning vehicles? The "deed in the drawer" method is not an estate plan!
- How Medicare and Medicaid can impact real estate. States can hit up the estates of people aged 55+ for medical services and products, and may put liens on the homes of benefit recipients in care settings. How can you protect your (and your heirs') property interests, should these situations occur? Know the exceptions that apply, depending on your family's circumstances. Know when states must remove the liens, too.
- How age-restricted communities and impact the options you have with your real estate. What is the legal effect of age-based restrictions on deeds? How do homeowners' association bylaws and Covenants, Conditions & Restrictions documents (CC&Rs) impact your ability to transfer title to your home? What does this mean for overall estate planning?
- What Happens If the Mortgage on Your Home Outlives You? Here, we discuss what happens when a homeowner passes away with a loan still on the home. This can be a tough topic to confront, but reviewing the potential scenarios will help you prepare for the possibility.