Why You Need To Evaluate Your Estate Plan

Your Estate Plan may consist of a Last Will and Testament, Trust, Power of Attorney and other important documents that need a tune-up from time to time. Not just because your life may have changed, but outside events can affect what’s in your estate plan as well. One recent outside event is the new tax reform that Congress passed at the end of December. Did the tax reform, or new estate tax limits affect or alter your estate plan? It’s the beginning of the year and time to think about a resolution to re-evaluate your circumstances and any governing documents you may have regarding your estate plan. Life is constantly changing. You may need to make necessary adjustments. Consider meeting with

Real Estate and Housing Market Forecast For 2018

Overall, in this new year, it is predicted the housing market will continue to bounce back as it has been for the past year. In November 2017, existing home sales escalated to a rate that hasn’t been seen in the past 10 years and reaching an 11-year high. The existing home sales totaled 5.81 million that amounted to an increase of 5.6% from the month before. The inventory of homes decreased 7.2% to 1.67 million that is 9.7% lower than it was in November 2016. It’s also predicted the inventory of houses will continue to further decline. The law of ‘supply and demand’ kicked in making housing prices rise. The economy is the driver with more jobs being created and the lowest rate of unemploymen

Rental Caps and Your Homeowners' Association ( HOA )

Many properties in Colorado are used as a second home or a vacation home. These owners often rent these properties for part or all of each year to help cover expenses and provide additional income. When owners or investors buy a property that is under the jurisdiction of a Homeowner’s Association (HOA), they were given a set of Covenants, Conditions & Restrictions (CC&Rs) that outline all the rules and ‘laws’ of the community. The buyers agreed to follow the rules and restrictions of the HOA. The introduction of Airbnb and other vacation rental websites opened a door easily allowing property owners to rent out their homes known as short-term-rentals (STRs). This was great for the owner who c

Mortgage Applications For Real Estate Closings And Re-Finances May Be Delayed Due To IRS Glitch

On December 8, 2017, the Internal Revenue Service (IRS) made changes to its authentication system. This is the system that verifies tax returns that mortgage applicants provide. The system is known as the Income Verification Express System (IVES) and is in place to make sure tax returns aren’t fraudulent. Within five days of the changes, on December 13, mortgage groups were finding problems with the new system. Other groups said problems with the changes began almost immediately after being installed on December 8. Because of the changes to the IRS system, Anne Canfield, the executive director of the Consumer Mortgage Coalition said, “The bottom line is that mortgage closings are going to be

Business Investments and Investors: Should You Sell Your Business?

When you own a small business and are thinking of selling a portion of your business to investors, you’ll want to know everything there is before making any kind of a commitment. Established companies and almost all start-up companies think about raising business capital at some time and will turn to the possibility of taking on investors. There are many reasons to sell a percentage of your business, but generally, businesses sell in order to raise capital to help bridge the business over a period of time until capital comes in or to expand the business and needing the money to do so. When you sell part of your business to an investor, you are selling an Equity Investment. Equity investors

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Gantenbein Law Firm