Monthly Archives July 2020

Creative Financing

If a buyer does not have sufficient credit to purchase real estate, an alternative method of doing so is a Land Contract. Such a contract is a very flexible agreement between the buyer and seller to allow a buyer to have purchasing rights to the property. The deed does not transfer until the contract is paid off. The buyer and seller set the terms of the contract, and a bank is not involved. Negotiate terms of the contract to include down payment, interest rate, length of amortization, who pays taxes and insurance, and who pays for cost of title work.
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Wispact Special Needs Trust

Often I have clients asking me what they should do if they would like to leave an inheritance for a relative who is on public benefits such as SSI or Medicaid. What do I recommend? The Wispact Special Needs Trust. The Wispact Special Needs Trust is a community pooled Trust that allows a beneficiary to keep assets in trust for his/her benefit while still maintaining their public benefits (such as SSI or Medicaid). There are two types of Wispact Trusts: The self-funded trust and the third-party trust. The self-funded trust can be created by a parent, grandparent or beneficiary, but
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