Real Estate

The Responsibilities of Being an Executor

June 1, 2016

Before a person agrees to be an executor of an estate, he or she should understand what the role entails. While serving as an executor can be an honor, the role carries significant responsibilities, as well as possible liabilities if the executor fails to protect the deceased’s assets. This article highlights the various tasks required by an executor (known as a “personal representative” in some states), which include taking inventory of the deceased’s assets, protecting and distributing a deceased’s property that passes under his or her will, arranging for payment of debts and expenses, filing tax returns, and closing the estate. A sidebar explains how an executor is compensated.

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What’s the Tax Impact of Owning a Vacation Home?

December 16, 2015

For the lucky ones who own a vacation home, it can be a place to relax and recharge with family and friends. However, it can also impact their taxes, especially if they rent the home to others when they’re not using it. This article explains the rules under various scenarios.

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New Mortgage Rules Have Moved In

May 13, 2014

Many home buyers will now face greater scrutiny as they apply for mortgage loans. That’s because new regulations that went into effect in January require lenders to analyze potential borrowers’ ability to repay the mortgages for which they’re applying.  The rules come from the Consumer Financial Protection Bureau (CFPB) and are intended to keep consumers…

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