Revocable Living Trust In many jurisdictions, trusts cannot be revoked unless the trustor expressly retains the right to revoke. Revocable living trusts allow a trustor to manage his assets, to plan for his incapacity, and to avoid probate. The beneficiary … Continue reading
Author Archives: D3 Support
The Natural Objects of One’s Bounty – II
This article is the second part of a three-part series describing the traditional names for the various members of one’s family. The first article discussed the phrase “the natural objects of one’s bounty,” which means the closest surviving members of … Continue reading
Special Conditions in a Will
As a general rule, a devise, a bequest, a legacy, or a trust in a will may benefit any person or legal entity. One major limitation is that is that a devise, a bequest, a legacy, or a trust in … Continue reading
Constructive Trusts
Trusts are sometimes classified by the intent, if any, of the settlor to create a trust. This article discusses the kind of trust for which the settlor’s intent is irrelevant: the constructive trust. Defined When, to remedy an injustice, a … Continue reading
Co-Ownership Myths – II
One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a tenancy in common and a joint tenancy with right of survivorship. Many people do … Continue reading
Trees – Fruit & Nut Trees
Dawn maintained a peach orchard on her property. In order to derive the most profit from her land, Dawn planted her peach trees densely, right up to her boundary line. As a result, some of the limbs of the peach … Continue reading
Right-to-Farm Laws
Laura and Heath decided that they’d had enough of the city. The smog, the noise, and the commotion were all just too much. They decided to build their dream home on a rural piece of property. Once the construction of … Continue reading
Mortgage Servicing
What is a mortgage servicer and what are the mortgage servicer’s obligations to the borrower? Jason just settled on his first home. During the closing Jason received a document that discussed mortgage servicing. In essence, the document indicated that Jason’s … Continue reading
Bi-Weekly Payment Plans
Jillian purchased her first home within the last year. She obtained a traditional 30-year, fixed-rate mortgage. The mortgage was payable in monthly installments. Since she moved in the house, Jillian has received numerous advertisements in the mail describing the tremendous … Continue reading
Flipping Scams
In recent years, so-called “flipping scams” have received widespread attention in the media. How does it work? An unscrupulous investor purchases a cheap, run-down, property. Usually, the property is situated in a low-income neighborhood. In some circumstances, the investor will … Continue reading