Articles

Condo could prohibit religious displays on doorways

A condominium association can prohibit owners from displaying any objects on or in front of their doorways – including Christmas decorations and crucifixes, says a federal appeals court in Chicago. In this case a woman sued because the condo rule had prohibited her from placing a traditional Jewish mezuzah on her doorpost. She claimed this amounted to religious discrimination. But the court said that the rule was valid as long as it was a blanket ban

Family Limited Partnership saves family $120,000

If you’ve been wondering how a family limited partnership can save your family taxes, here’s a good example. Bianca Gross was a widow who invested in stocks. She had two daughters. She decided to create a family limited partnership, in part so she could involve her daughters in her investment decisions and teach them about investing. Bianca became the general partner, and the daughters became limited partners. Bianca had complete management control over the partnership, and

It’s not always easy being green

Homebuyers, businesses, and residential and commercial tenants are all showing interest in “green” buildings these days – those designed to save energy, use sustainable materials and have less of an impact on the environment. Many buyers and renters are willing to pay a little more for a green building – especially if they can recoup their money through energy savings. But if you’re serious about going green, think carefully about the legal aspects. You’ll want to

How to leave a vacation home to your children

You might think it’s easy to leave a vacation home to your children in your will. But there are many issues that can arise. For instance, over time children might squabble over who will pay for major repairs or renovations, especially if some children use the property more than others. Children might disagree about whether to sell the property. And there are tax, liability and asset protection issues and opportunities as well. If you haven’t thought

Who gets cash hidden in house by deceased former owner?

Imagine you bought a house and, a year and a half later, you discovered bundles of cash that had been hidden away by the deceased former owner. Who would be entitled to the money – you or the former owner’s estate? Confronted with just such a case, an Oregon appeals court determined that the new owner can keep the windfall. William and Helene Valoff owned a house in Milwaukie, Oregon. After Mr. Valoff’s unexpected death, all

Here’s a second chance if you elected early Social Security benefits

Did you elect to take Social Security benefits before your full retirement age? If you did and are now looking for extra income, there may be an answer. Once you reach full retirement age, you can pay back the money you have received and reapply for full retirement benefits. Although you can collect Social Security benefits between age 62 and your full retirement age, if you do, your benefits will be lower. For example, if you

Ombudsmen: front-line advocates for nursing home residents

Disagreements with a nursing home can arise regarding any number of topics, including the quality of food, troublesome roommates, lack of privacy, and services that are less than what was promised. Many disputes can be resolved by speaking with a nursing home staff member or supervisor, or moving up the chain of command. But if you can’t resolve things within the nursing home, your next step should be to contact the local ombudsman assigned to the

New law makes changes to reverse mortgages

In addition to addressing the current housing crisis, the Housing and Economic Recovery Act of 2008 makes changes to reverse mortgages, including higher borrowing limits and protections from aggressive marketing. A reverse mortgage allows a homeowner who is at least 62 years old to use the equity in his or her home to obtain a loan that doesn’t have to be repaid until the homeowner moves, sells, or dies. The new law, which took effect in

Spouses of Medicaid recipients may keep more money in 2009

The amount of money that spouses of Medicaid recipients can keep may increase in 2009, as a result of new guidelines issued by the federal Centers for Medicare and Medicaid Services. The amount of assets that spouses of people who are on Medicaid and living in nursing home can keep for themselves is set by each state, but the federal government sets a ceiling and a floor that the states must follow. For 2009, the ceiling

Can you deduct the cost of ‘assisted living’ on your taxes?

If you live in an assisted living facility – or have a family member who does – you know that the costs continue to rise every year. But did you know some of those costs may be tax-deductible? Medical expenses, including some long-term care expenses, may be deductible if they are more than 7.5 percent of your adjusted gross income. (You have to itemize your deductions, and the amount of the deduction varies depending on a

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