Tag: LegalEase

Over a decade ago, the law changed regarding the tax treatment of gain in value on the sale of a primary residence. Some aspects of the “old law” remain as points of confusion that lead to misunderstanding of the law as it currently is.

In most circumstances, it should not take a law degree to be able to read and usually understand most written agreements and documents, including deeds to properties. However, a struggle comes when the language in a deed seems to be literally inaccurate.

Independent from the cost concerns, there are many reasons why people want to avoid moving into a nursing home. Nevertheless, when a person has various medical conditions that prevent that person from living alone, there can be few alternatives.

For agreements and contracts of any financial or other significance, a written agreement is advisable, even if not legally required. This is because it is more difficult to later argue about the terms of the “deal” if the agreement is not in writing to begin with.

Although competent legal and accounting professionals should always be consulted whenever someone dies, there are five areas of tax-related obligations of which family members should be aware upon a loved one’s death.

Our home is often our most valuable asset. Obviously, we invest a lot of money in purchasing or building our homes and often continue to make improvements during our lives.

Over the last few weeks, a certain brother expressed frustration that the brother’s sibling received larger and more frequent gifts from parents of the brother and sibling. That brother also identified how much less love the brother perceived receiving compared to the sibling.

Most of us would not buy a car without either personally or professionally investigating the condition and history of the car.

Our region’s weather can be challenging, especially during the winter. And it is not just snow and wind that can damage property. As we saw last week, large fires on Cole Street outside Lima and in the village of Continental’s downtown can be especially dangerous when the weather is cold.

Some people hold true to the time-honored tradition of making New Year’s resolutions. Typical topics include exercise, diet and financial health. Getting our legal affairs in order is a resolution worthy of serious consideration.