Understanding the Pros and Cons of a Life Estate

What is a life estate?

life estate is a type of ownership interest in real estate.  Most commonly the life estate is conferred by deed but may also be conferred in a will or trust.  The typical scenario pertains to a parent who wants to “give the house to the kids” for estate and asset protection planning purposes, but retain control over the property. The parent transfers the real estate by deed to the children reserving a life estate for him or herself. The parent is…

Resources and Tips for Older Americans

13%Did you know that May is Older Americans Month?

According to the 2010 U.S. Census, there are 40.3 million older Americans – people who are 65 and older in the United States, which is 13% of the population. In recognition of Older Americans Month, which was first designated in May of 1963, USA.gov has highlighted several resources that seniors may find useful.