Since many probate estates have limited liquidity, they’re often difficult to manage.
Over the last few decades, many homeowners thought that applying for a reverse mortgage was something to be done only in the most dire and desperate of times.
Proposition 19 (also known as ACA 11), which will go to a vote on November 3, calls for the repeal of Prop. 58 and Prop. 193, leading ..
In 1986, California voters approved a constitutional amendment under Proposition 58, allowing the exclusion of property tax reassessments when parents transfer property to their children.
The general concept of a trust is relatively simple – a formal arrangement where a party (trustor) assigns control of their property or assets to a second-party (trustee) on behalf of a third-party (beneficiary).
Before getting into the details on reverse mortgage payoffs and how they work, it can be helpful to understand what a reverse mortgage is and why a loved one might get one.
When a parent dies and leaves his or her estate to children and other heirs, the estate assets must be equalized before any money or property can be distributed.
Managing probate estates can be problematic for many reasons, many of which are caused by lack of liquidity in the estate.
Trustees, executors, private fiduciaries, and estate and trust attorneys routinely encounter common problems when administering cash-poor trusts or probate estates after someone passes away.
If you are in need of a private loan, it’s helpful to understand the process to put your mind at ease. It’s not as scary or as involved as people may assume.