Legal And Money Matters For Real Estate

Getting the right professional advice is critical in anything related to real estate. The legal and financial implications of doing something wrong - or missing a golden opportunity - can be enormous.

There are many things you can do to save money, reduce taxes, find financial support for housing related needs, purchase or lease real estate and maximize your financial benefit from a real estate transaction. But, you must have knowledable professionals assist you with many of these task.


1031 Exchanges:  What are they and why should you care?

If a property has appreciated since it was purchased and you are planning to use the proceeds of the sale to purchase another property, look into the possibility of a 1031 Exchange as a way to defer taxes and let Uncle Sam help you pay for the new property.

There is a way to defer taxes on the sale of your, or your parents, property by rolling over the capital gains into the purchase of another appropriate property. But, it must be done correctly and you must use a qualified intermediary. Click here to learn about 1031's and how to select a qualified intermediary.


Reverse Mortgages: A Potential Source of Money for Staying in Your Home or Purchasing a New Home 

You can use a reverse mortgage for living expenses or home modifications so you or a loved one can continue to live at home. Also, if done properly, you can use a reverse mortgage to purchase a new home. But, you should get the facts before cashing in on your home's equity.

Reverse Mortgages - Get the facts before cashing in on your home's equity. This is a great primer about the pros, cons and how reverse mortgages work.

FAQ: Ten Things to Know if you're interested in a reverse mortgage

  • What is a reverse mortgage?
  • Did you know that you can use a reverse mortgage to help purchase property?
  • Can the lender take my home away if I outlive the loan?
  • How much money can I get from my home?
  • Do I have to take the money as a lump sum?

Using a Reverse Mortgage (Home Equity Conversion Mortgage, or HECM) for Purchase.  HECM for Purchase allows seniors, age 62 or older, to purchase a new principal residence using loan proceeds from the reverse mortgage.

Getting Your Affairs In Order

Power of Attorney & Guardianship

  • Power Of Attorney: The Pros And Cons
    A checklist of advantages and disadvantages to think about if your loved one is considering drawing up a power of attorney.


  • Powers Of Attorney: The Basics
    Some information to consider if your loved one is thinking about signing a power of attorney document.


  • Specific Powers Of Attorney
     In addition to general powers of attorney, your loved one might want to look into specific power of attorney documents that grant only certain, tightly defined powers to the attorney-in-fact.


  • The Guardianship Process
    The steps to take to have a legal guardian appointed for someone who is incompetent or incapacitated.


  • What Is Power Of Attorney?
    An introduction to powers of attorney, including explanations of legal terms, different types of power of attorney documents, and other important information.


  • Who Is A Guardian?
    Would you make a good guardian? Here’s how to find out.


Wills & Estate Planning

  • Making A Will: The Basics
    While specific laws may differ, there are some general issues to consider when making a will.


  • The ACTEC
    Find information on wills and trusts—or an experienced estate lawyer—at the American College of Trust and Estate Counsel’s home page.


  • The Basics Of Probate
    If you’ve been reading about wills or trusts you have most likely come across the term probate. Clearly, this is a central issue in estate planning, but what exactly is probate?

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Special Credentials

Specialized credentials and training set professionals apart from one another. Learn about legal, financial and other professionals with special credentials to help seniors and their families.

  • Elderlaw Attorneys
  • Senior Real Estate Specialists
  • Certified Exchange Specialists
  • Certified Senior Advisors
  • and more
Avoid Scams

Unscrupulous people want your money.

Beware of scams related to mortgages, home improvements, moving companies and others.

Learn more

Caregivers Handbook

This 80+ page guide provides resources, checklists and worksheets - all in one place.