A contract for deed, also known as a land contract, installment contract, or a bond for deed is a legal agreement between two parties, a buyer and a seller. Unlike most traditional real estate transaction that involves a mortgage from a bank, in a contract for deed transaction, the seller acts as the lender and
The Law Offices of Lauren E. Jackson Blogs
Blog Authors
Latest from The Law Offices of Lauren E. Jackson
Is there a minimum net worth you should have before making a will?
As an estate-planning law firm, we are asked by clients, how much money do I need to create a will? In simple terms, there is no minimum net worth requirement for creating a will. Frankly, net worth is far down on the list when it comes to reasons for drafting a will. I know this…
Podcast Episode – Estate Planning Essentials with Attorney Lauren Jackson
Recently I recorded an episode on the Your Life, Your Money Podcast with financial advisor Scott Sierens. During this episode we went through the fundamental aspects of estate planning, addressing common misconceptions and highlighting why having a solid estate plan is essential for everyone. From the basics like power of attorney documents and wills, to…
Whose debt is it anyway? Can you be held responsible for your parents’ debt?
During the probate process, a question revolves around what happens to debt after your parents die. Are the children responsible for their parents’ debt? In most cases, you are not personally responsible for your parents’ debt when they die. However, let us dive deeper and consider some important items.
Whether your parents have an estate…
How to answer the number 1 question for parents: Who should I choose to be the guardian of my child?
Choosing a guardian for your children might be the hardest question to answer when completing your estate plan. Determining who the guardian of your child is is a significant life decision but also a deeply personal one. There are many considerations to think of when deciding who the best choice would be for your children.…
There is a problem with your new home – what can you do?
Your dreams have come true and you just purchased a home. Everything was great until you moved in. After the first rainfall, your basement floods, or your roof leaks and your home has sustained water damage. You suspect that this is not the first time this house has flooded. You suspect the previous owner had…
Is an executor of an estate entitled to compensation?
If you are involved in a probate process and serve as the executor or administrator of an estate you know how time-consuming, difficult, and stressful a task it can be for you. Acting as executor/administrator is often a thankless job that can quickly turn contentious depending on the personalities of the heirs. Regardless of the…
Don’t wait until it’s too late….draft your estate plan
Whether you want to think about it or not, there comes a time in everyone’s life when it is too late to complete an estate plan. Waiting until the last minute, or until a significant life event occurs, can lead to complications and potential limitations. Being an attorney who handles end-of-life directives, I see this…
When is the money in your retirement accounts in jeopardy?
One of the most important things we can do for our families, and our future selves, is to save money in retirement accounts. I’ve noticed a common client misconception that all money in retirement accounts (IRA, 401K, 457, etc.) is protected and untouchable by creditors. That is not true. Lets’ look at some different creditor…
What is a mechanic lien on a house?
If you make your living in real estate, an instrument you should know is the mechanic lien. Also known as a construction lien or a contractor’s lien, a mechanic lien is a legal claim that a contractor or other construction professional (carpenter, architect, plumber, electrician, etc.) involved in a construction project can place on…