– Legal Insights –
If you are expecting an inheritance, an estate planning tool known as a trust may prove useful, depending on your circumstances. Among the numerous types of trusts aimed at fulfilling different estate planning purposes, an inheritor’s trust is specially designed to help protect an inheritance. Purpose of an Inheritor’s Trust...
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In response to growing inflation and other economic pressures, the Federal Reserve recently raised its key benchmark interest rate by 75-basis points, the largest single increase since 1994. This has predictably increased mortgage rates from 3.0% in October 2021 to upwards of 6.5% today (a 3.5% increase in approximately 8...
A purchase price escalation clause provides that an offer to buy real estate will automatically increase to exceed any other offer by a certain amount (see examples below). An escalation clause may be an effective way to make the highest bid; however, an escalation clause should be used only in...
The Copyright Claims Board (CCB) is a tribunal within the Copyright Office that will hear copyright disputes involving claims up to $30,000. Created by the Copyright Alternative in Small-Claims Enforcement (CASE) Act of 2020, the CCB was envisioned as an alternative to federal court, and makes copyright proceedings accessible to...
The real estate market has been especially active over the last two decades. At several points in the market cycle, there has been very little inventory of homes for sale. Many taxpayers think their home cannot be sold if the government has a tax lien against it. This is just...
Inflation and the increased cost of doing business are taking the nation by storm – and felt across industries. Supply chain issues and labor shortages are causing projects to run longer and at a higher cost than expected. If contractors fail to include certain escalation provisions in their contracts, they...
Maybe your mail carrier has a penchant for rifling through your company’s mail and took the plaintiff’s complaint, or it fell through the cracks to the center of the earth, or the whole situation is a tragic misunderstanding. But one way or another, somehow or another, you didn’t respond to...
Every time your company enters into a contract or agreement, there is potential risk. Times are changing and so should your contracts. Most owners and/or leaders sign standard forms every day without fully understanding what they are signing. This has the possibility of leading to financial disaster. It is money...
Tax season just ended and many taxpayers are receiving their refunds. But all required tax returns were not filed. According to recent IRS estimates, there are at least 10 million tax payers that the government has identified as, “non-filers.” If you filed an extension, you have until October to file...
The Hellmuth & Johnson HOA practice group delivered our annual Spring Seminar on May 21st at 9:00 am. Topics include: Open and Closed Board Meetings: A Refresher Course Association Records and the Supreme Court Decision in Harkins v. Grant Park Association Annual Meetings Presenters include: David Hellmuth Joel Hilgendorf Phaedra...
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender. Reverse mortgages are highly...