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Helping You Navigate Complex
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Helping You Navigate Complex Legal Issues

January 2016 Archives

Gregory A. Lang

Tending to your estate in 2016

Estate planning is a living process. It is not meant to be addressed once and then shoved in a drawer once the papers are signed. Estate planning is a process that is meant to be revisited as your life evolves. No matter how seemingly straightforward or staggeringly complex your estate may be, it is important to revisit it with the assistance of an experienced attorney at numerous times in your life.

Buying a home? Review that property appraisal carefully

A lender will not approve a mortgage loan without a property appraisal (that the purchaser generally pays for). Lenders like to say that the appraisal protects both lender and homebuyer: The former wants to make sure that it will recoup its investment if the buyer defaults, while the latter wants to know that he will recoup the investment when he sells.

Housing market will slow down, but millennials may finally jump in

It is hard to imagine shopping for a new house -- much less moving -- during a Minnesota January. Boots and scarves and down-filled everything can be just too cumbersome and sloppy to deal with to convince most of us to make the rounds of houses for sale. So now seems the perfect time to talk about housing market predictions for 2016.

Housing market will slow down, but millennials may finally jump in, p2

We are talking about the residential real estate market and brokerage firm Redfin's predictions for 2016. Please note, Redfin is just one brokerage that does this kind of analysis. RealtyTrac, CoreLogic and many other companies also monitor market trends and publish regular reports. There are usually minor differences in the data, but they tend to agree on general trends.

Passing Down The Family Cabin

Thousands of families across Minnesota own lake cabins and vacation homes. These properties are the source of many memories. Even when children pass into adulthood, a cabin will still retain significant emotional value, to say nothing of its financial value. Any parent who owns a vacation property must consider many factors when deciding whether to pass on the property or sell it.

What estate assets are exempt from creditors?

People in Hennepin work throughout their entire lives to accumulate assets that they can then pass on to their children. However, at the same time, they may also accumulate debts. If you have been asked to serve as the personal representative or executor of an estate, then you should know what to tell beneficiaries when they ask how the estate’s debts will affect their inheritances. Fortunately, you may have some good news for them.

Actor Harrison Ford’s ex-wife’s will is missing

For many in Hennepin, the task of preparing a will can be a difficult one. It may involve making tough decisions about which of one’s heirs will receive what and the manner in which they will receive it. However, at least one may able to take solace in the fact that once the will has been drafted, his or her work is done. Or is it? After all the time and effort that went into creating such an important estate planning document, one could realistically see that all go to waste if his or her will is not filed or stored in the proper location.

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