Social Security could be a crucial part of your retirement, so it is natural that you should want to keep control over your Social Security payments and benefits. However, older age or an illness may someday make it necessary for you to find help managing your Social Security funds. A Social Security Advance Designation is a tool that allows you to select one or more individuals who can serve as your representative payee if you ever need help controlling your Social Security benefits in the future. How does Social Security Advance Designation work? Through an advance designation, the Social Se ..read more

Intergenerational living arrangements, where many generations share a home, are on the rise. This living situation can be an attractive option for many families. It offers many benefits, including mutual support, companionship and cost-sharing. It can also provide security and stability, particularly for older adults. Older adults must consider some legal aspects of this living situation. Careful planning protects the rights and interests of everyone involved. Property ownership When different generations live together, questions about property ownership may arise. Establishing clear ownership ..read more

Families often help their elders with legal planning. However, elders without families also need to make sure they have a plan for their future. This plan should include legal documents that clearly dictate how their health, finances and other personal matters should be handled. Important legal documents One of the most important steps in legal planning is setting up a durable power of attorney. This allows the person to choose someone they trust to manage their money if they can’t do it themselves. A healthcare power of attorney lets someone make medical decisions for them. A living outlines ..read more

A thorough title search is an important part of purchasing any property. The title search involves examining the public records to establish the legal ownership of the property and uncover any potential issues that might interfere with the property transfer. Understanding the three most common title search issues helps you prepare to address them. 1. Liens on the property Liens are legal claims against a property. You cannot transfer ownership of the property without resolving any outstanding liens. Your title search might uncover tax liens, mechanic’s liens or judgment liens. To resolve a lie ..read more

As technology becomes a standard part of life, seniors must consider their digital assets during estate planning. This involves more than just managing physical and financial assets. It also includes everything from social media accounts to online bank accounts and digital files. When planning for the distribution of your digital assets, you must use specific strategies. Identify and catalog digital assets The first step in managing digital assets is to identify and catalog what you own. This includes email accounts, social media profiles, digital photos, e-books and any online financial accou ..read more

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