What Documents are Required for an Estate Plan?
The list of documents required for estate planning can be very confusing and varies from state to state. It is important to consult a local estate planning attorney who is knowledgeable about federal and state laws to draft your estate planning documents.
Your estate plan in Michigan should include several key documents:
Last Will:
A will is a legal document with instructions to be followed after your death. Typically, a will establishes the distribution of assets according to your wishes. If you have no will, Michigan state laws are used to determine the final distribution of your assets.
Power of Attorney:
A Power of Attorney is a very powerful legal document that allows you to appoint a person to manage your overall financial affairs in your absence. This legal document requires proper planning as this gives complete control over your assets to another person.
Trusts:
Trusts can be set up to receive assets during your life time or receive a legacy upon your death. A trust along with a will makes it easier for the smooth distribution of assets, making it more private, while saving on probate and estate taxes.
Contact an experienced estate planning attorney in Rochester
You must keep in mind that estate planning laws keep changing from time to time in Michigan. This is exactly why you need an experienced Rochester Hills estate planning attorney who can explain to you the various options available to ensure your wishes are completely fulfilled.
Military Home Foreclosure Lawsuit Settlement Reached With JPMorgan-Chase
A military home foreclosure class-action lawsuit, filed by a Marine Corps captain, has been settled by JPMorgan Chase & Co. after the company admitted to violating the Servicemembers Civil Relief Act (SCRA).
The SCRA sets mortgage interest rates at 6 percent while service members are on active duty and bans any foreclosure proceedings for nine months after the service member returns from active duty. The Marine Corps captain alleged that the giant mortgage bank had failed to reduce the interest rates on his home while he served.
An investigation, reported by Simon Zhen of MyBankTracker in JPMorgan Chase Military Mortgage Lawsuit Reaches Settlement,’’ found that about 6,000 active military homeowners were adversely affected by the lender’s practices, with 18 homes foreclosed upon in violation of federal law.
Information in this post gathered in association with a Clarksville military divorce attorney
If approved, JPMorgan Chase will pay $12 million to the 6,000 service members with an additional $15 million to be distributed for individual damages. The company had already paid out $6 million to military personnel. The additional $6.4 million will be set aside for victims of wrongful foreclosures. About $8 million will be paid in attorney’s fees.
Following its public apology in February, JPMorgan Chase announced a number of goodwill programs designed for military homeowners, service members and veterans. The program includes:
- Home ownership assistance.
- Changing the SCRA pricing to reduce mortgage interest rate.
- An enhanced mortgage modification program.
- An alliance with corporations to offer training, education and jobs to military members and veterans.
Dealing with Real Estate Foreclosure in Arizona
Foreclosure is a complex and intimidating process. It is the legal process by which a lien holder obtains a court-ordered termination of a mortgagor's right of redemption. A bank may initiate a foreclosure proceeding if a mortgagee does not make required mortgage payments.
Arizona Foreclosure Laws
Arizona law does not allow a mortgagee to reclaim his or her property after it has been foreclosed upon, even by paying the unpaid loan plus costs. The law also limits the amount of time you have before your home will actually be repossessed. It is very important to contact a bankruptcy attorney immediately, who will provide you with various options to avoid foreclosure. One of the options to avoid foreclosure proceedings is to file for bankruptcy protection. Foreclosure law may differ from state to state. Hence, it is advisable to contact an experienced bankruptcy attorney in your area.
Contact a Bankruptcy Attorney in Phoenix
As the Arizona foreclosure process is very complicated, seeking legal guidance from bankruptcy law firms in Phoenix can help you find options -- including bankruptcy, refinancing, loan modification, or a payment plan. Contact a bankruptcy attorney immediately if you are having difficulty making your mortgage payments.
How Myrtle Beach Attorneys Help in Real Estate Matters
Real estate law is very complex, involving state and federal statutes, common law, and property law matters. Therefore, dealing with real estate law is not easy and most people buying or selling property consult a real estate lawyer.
Real estate lawyers in Myrtle Beach offer broad services
Myrtle Beach attorneys can help you in commercial and residential real property transactions relating to:
- Representation, litigation, consultation, and negotiation of mortgages
- Residential and commercial purchase and sales agreements
- Commercial leases for offices, restaurants, motels, and shopping centers
- Contract review and preparation
- Partnership disputes and broker issues
Apart from representing clients during these transactions, attorneys are also experienced in a broad spectrum of other mediation, negotiation, summary, mini-trials, and other dispute resolution services. If you have real estate law issue or plan o buying or selling a property, contact a real estate attorney in Myrtle Beach who also focuses on corporation formations, limited liability companies, and partnerships.
To protect the interests of the public in real estate transactions through the effective administration of the Real Estate License Law and Regulations, the state created the South Carolina Real Estate Commission in 1959.
In addition to property sales, there is a large list of real estate disputes that includes non-payment issues, land ownership conflicts, franchise issues and many more. The Myrtle Beach real estate attorneys will address all your issues and resolve all the real estate matters through mediation and litigation.
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