As you progress into your older years, you are likely aware of the need to make sure your children or other younger relatives end up with your home after your death. However, probate can be lengthy, expensive and public, which may not align with your wishes. Fortunately, putting your home in a trust could be an option, provided that it meets your expectations and concerns for yourself and your heirs. Reasons to assign your home to a trust Avoiding probate is one of the primary advantages of putting your home in a trust. Unlike a will, which must go through probate, trust assets typically bypas ..read more

When it comes to selling your home, maximizing its selling price is likely one of your top priorities. You probably know that it takes some elbow grease to increase your property’s value, but it is not easy to know where to start. While many factors can influence how much you can sell your home for, focusing on three key elements can significantly increase its market value. Curb appeal First impressions matter, especially in real estate. Enhancing your home’s curb appeal can instantly attract potential buyers and even drive up its selling price. Simple improvements such as landscaping, paintin ..read more

Trying to get all your finances in order to buy a home might prove frustrating. You may have trouble getting everything together as quickly as you want, and you could fear losing the house to a better-prepared buyer. This is where a conditional sales agreement may be of assistance. With this kind of transaction, you might obtain a home much quicker than with a traditional real estate purchase, although there are strings attached to this arrangement. The conditional use of a home By entering into a conditional sales contract, you acquire the right to use a property although you lack complete ow ..read more

Eminent domain is a legal process through which the government can acquire private property for public use. In Delaware, state law and the United States Constitution grant this power. However, when the government exercises eminent domain, it needs to adhere to several conditions. Public use requirement For the government to take private property through eminent domain, it needs to demonstrate that it will use the property for a public purpose. This can include building roads, schools, parks or other essential infrastructure. The public use requirement ensures that governments do not use eminen ..read more

When it comes to estate planning in Delaware, one decision is whether to go solo or involve your spouse. Both options have their merits and drawbacks. Understanding them can help you make an informed choice. Individual needs Delaware has a rate of about 13.6 marriages per 1,000 women 15 and older. However, some married people perform their estate planning alone. If you do this, you have the chance to tailor the process to your individual needs and preferences. You can focus solely on your assets, debts and beneficiaries without having to compromise with your spouse. This approach may be benefi ..read more

If you have a child with special needs, you likely worry about providing care and meeting their needs after you are gone. Establishing a special needs trust is one way to provide financial resources for their care without costing them their government benefit awards. When creating a special needs trust, there are a few components you should include. 1. Letter of intent Write a detailed letter of intent providing guidance on your child’s preferences and daily needs. Give input on their interests, likes and dislikes to assist the trustee in making appropriate decisions. Include information about ..read more

Whether you want to move to a quieter neighborhood or want to downsize, you might look at getting a new, smaller home in a Delaware neighborhood. If you have experience with purchasing a residence, you know to obtain an inspection of the home before you commit to it. Unfortunately, some dishonest people may try to scam you. Sometimes scam attempts are not obvious. Nonetheless, it is possible to pick up on signs that you are not dealing with an inspector who has your best interests at heart. Excessive inspection fees An inspector may offer you a quote for a low inspection fee. This might seem t ..read more

Buying a home is a big deal for many people. One important aspect of the home-buying process is title insurance. If you are looking for a new home, it is beneficial to understand why title insurance matters since it acts as a safety net for several reasons. Making sure you truly own the property Title insurance is there to make sure the home you are buying belongs to the person selling it. It checks if there are any hidden claims or debts on the property that you should know about. Without it, you could end up in a legal mess or owe money for something you did not know about. Guarding against ..read more

Relocating to a new state often brings about a flurry of changes, from adjusting to local customs to understanding the new tax laws. Among these considerations, evaluating your estate plan is important to properly document your wishes and make them legally binding. If you are moving to Delaware, understanding whether you need a new estate plan is necessary. State-specific laws Each state has its own set of laws governing wills, trusts and other aspects of estate planning. Delaware is no exception. By moving to Delaware, you subject your estate plan to the laws of this state, which may differ s ..read more

Many people plan their finances so they can receive Medicaid because they can obtain coverage for long-term care under the program. You may wonder if the similarly-named Medicare program is an alternative option for care coverage. However, Medicaid and Medicare are quite different and do not offer the same services. Medicare is a health insurance program that primarily covers costs related to illnesses and injuries. It does not cover the costs of long-term care, such as a permanent move into a nursing home. Care services offered by Medicare According to AARP, Medicare can help pay for up to 10 ..read more