Preparing your estate in advance is one of the greatest gifts you can give your family. Many estates include real estate in the form of a primary home, vacation home, and other family properties. While inheriting a property can be a wonderful legacy, it also comes with obligations that heirs may be unprepared or unable to fulfill. If you intend to leave real estate to your heirs, ask yourself these five questions to help avoid creating problems for your loved ones. 5 Estate Questions Will the Property Have a Mortgage? If the property comes with a mortgage or home equity loan, your heirs will need to negotiate with the lender to satisfy the terms of the loan. In many cases, they may need to sell the property to pay off any loans if financial provisions aren’t made elsewhere in the estate. Life insurance is one option for giving loved ones […]
There have been numerous articles written on the correlation between money and happiness. A quick Google search will turn up 650,000,000 pages. Most of these articles offer similar conclusions, like this February 2015 article in the Huffington Post, that while money can provide you with a certain level of comfort, it will not make you happy. So I began thinking—your bank accounts may tell you what you can and can’t afford, however, can they really tell you how wealthy you are?