Setting up your estate plan (i.e. wills, trusts, and powers of attorneys) is a smart step to prepare for unexpected life events in the future. It is especially important for families with minor children. When parents are preparing their estate plans to provide for their children they must keep in mind the following: 1) naming a guardian or co-guardian; and 2) determining an appropriate age in which their children should inherit the estate.
Over the last few years, wire fraud scams have increased with regard to the real estate purchase transaction. Can you imagine sitting in your real estate closing on the purchase of your new home and finding out that the down payment that you allegedly wired to the title company never arrived. Sending thousands of dollars of your life savings to the wrong account due to a scam is one of the scariest things that can be imagined. This blog is a warning to all real estate buyers to be very careful throughout the real estate closing process to ensure your closing funds are safe from hackers.