How Is a Home Calculated for a Divorce?
Video Summary
How is a home calculated in a divorce proceeding? Well, I don’t handle divorces and so it’s my understanding that whenever the parties have filed an action for divorce, the judge takes into consideration that each party’s circumstances how the home is titled whether or not there’s any children, and then they make a decision as to whether or not the mother or the father, whoever has custody of the children or the primary custody, can remain in the house until the children reach a particular age and then direct the property to be sold. They can also direct the property be sold if there’s no other consideration. They take in consideration the other assets and based upon all of that, the judge then makes the decision as to whom receives the marital home or whether or not they simply each own a half interest and they’re then in a position to sell the property or provide special equity or so much to one spouse once the house is sold. But that’s falls within the jurisdiction and the decisions of the divorce attorney. So you don’t need to call me, but I’ll give you my phone number. You need to talk to your divorce lawyer in order for them to explain how this is going to work in your individual circumstance. Give me a call at (727) 847-2288.
- Published in Estate Planning, Real Estate, Videos
How Close Can a Neighbors Dock Be to Another Property?
Video Summary
How close can a neighbor’s dock be to another’s property? Well, this is something that is regulated or by the city or county, wherever the docks or waterway is situated. And they may have a code building code which extends the property lines and give setbacks as far as where you can construct these docks. If the docks, if there is no regulation as far as the particular city or county on setback requirements, then it’s controlled by the riparian rights, which is the rights of a property owner who is adjacent to navigable waters to be able to use their property. And you cannot put your docks so that it impairs or encroaches upon your neighbor’s riparian rights, which consists of the call warpage or their ability to construct a dock. Also, as far as adaptability, so that you can’t block their ability to go in and out of their property to get to their docks or the waterway. And one that’s probably not used is also bathing and swimming. So usually you don’t want to have a dock that would stop that, but most time that’s not a problem. As well as the view, you can’t block your neighbor’s view of their property rights. And so the riparian rights is a complicated area as far as that’s concerned, whereas the city ordinances or building codes, as far as setbacks are concerned, fairly straightforward. However, it only controls docks that are built after the passage of the particular ordinance. So if you have any questions, give me a call at (727) 847-2288.
- Published in Guardianship, Real Estate, Videos
Even If I Have a Will, Should I Still Consider a Living Trust?
Video Summary
Even if I have a will, should I consider a Living Trust? Well, let’s talk about what a Will controls and what a trust controls, and then we’ll try and then you’d need to decide whether or not you would want to do a will and a trust or whether you’re satisfied with just the Will control whatever assets are titled just in your name alone at the time of your death. A Will will not control any assets such as joint bank accounts or bank accounts, have a beneficiary. The same can be said for a brokerage account. You can set those up so that there is what they call a TOD or transfer on death. Also, it doesn’t control life insurance, IRAs, or any other annuities or any other document that has a designated beneficiary. All of that is controlled by contract or the signature card. Now, a trust only controls those assets that are titled in the name of the trustee. Whenever you pass away, you usually are the trustee of your revocable trust, and then you’ve designated a successor trustee. And so that will only control those assets that are titled in your name as trustee under your trust. And of course, that designates who you wish to receive those assets. So whether or not you need a trust or not, or you need just use a will or whether you can title your assets so they pass automatically by designating beneficiaries. That’s all a product or a result of doing estate planning. That’s why they call it estate planning is so that you can discuss that with the attorney as to whether or not you need a will join assets or a trust or all three. So if you have any questions, give me a call at (727) 847-2288.
How Can We Add an Accessory Dwelling Unit to Our Property?
Video Summary
How can we add an accessory dwelling unit to our property? Well, the first thing you must do is contact your local city or county building and land use department to see whether or not they allow you to add an ancillary unit. That would be the first step. Not all cities or counties allow this, and if they do, they set forth a requirements that you must meet, such as the setbacks and land size of the property, where it’s going to be located as far as using that. And whenever we have an accessory dwelling unit, that means a separate is different than a Mother-in-law apartment, that’s where you have a separate meter and a separate address. So the first stop is to check with the building and zoning department of your particular city or county to see whether or not you can pull a permit and then submit your plans for that if they do allow it and their site plan. If you have any questions about it, please give me a call at (727) 847-2288.
- Published in Real Estate, Videos
Who Executes My Estate Plan?
Video Summary
Who executes my estate plan? Well, you must execute all the documents to your estate plan since those are all personal decisions that you must make as far as that’s concerned, and you cannot delegate that to someone else. However, if you do have a particular power of attorney that allows them to make some modifications to your estate plan as far as accounts are concerned, well that is an exception to that. But usually your estate plan or simple estate plan consists of a Will where you designate to whom you want your assets to be distributed to secondly, what they call a living Will or a dying declaration that says that you don’t want to be kept on life support under three conditions. And another document is called a healthcare surrogate, which is really, I think, very important. This is where you are signing a document that is a HIPAA waiver that allows the hospital or doctors to release your medical information to a designated person, which is called your healthcare surrogate. And then also, I recommend that you execute a durable power of attorney to someone that you trust explicitly that can act as your agent, particularly in the event you become disabled. It is effective immediately, and some clients are reluctant to have it signed, particularly if they’re in good health as far as that’s concerned, and that they’ve seen the abuses of powers of attorney. I’ve found that they’re very useful in many circumstances whenever it’s an elderly person and they need to be able to pay their bills or transact business for them. So if you have any questions about estate planning ,give me a call at (727) 847-2288.
- Published in Estate Planning, Videos