Owning a home means taking care of the business end, too – San Bernardino Sun
Homeownership comes with responsibilities.
In addition to mowing the lawn, fixing broken windows, and paying your tax and utility bills, you also need to take care of the business end of your home.
For starters, make sure you are holding title in a manner that reflects your current life situation. If you’ve gotten married since buying the house, you may want to change the way you are holding title to reflect your spouse’s interest in the property. Not accurately or proactively changing the ownership of the property through official channels can have dramatic effects on your legal and financial positions if and when you sell the house, or if one or both parties should pass away.
When you purchase a home, you may want to look into the risks and benefits of creating a trust. If a Trust does not provide any significant benefit to you today, you might consider reevaluating this…