What Is an Irrevocable Will?

The modern family unit is now so complicated that it bears no resemblance to the traditional idea of ​​a family with a mother, father and several children.

It is now common for both mothers and / or fathers to have children to one or more other partners. Many second or even third marriage or partnership unions bring with them children as part of the package, from previous relationships.

Where past or present relationships are not built on calm waters, this can cause complications when the issue turns to probate. The contents of a Will can be changed in the event of death, if all beneficiaries agree to the amendment. Similarly, it has been known for partners to change the content.

One way to prevent this from happening is by preparing an irrevocable Will.

For example, provided that the family home is jointly owned by both husband and wife, it would then automatically be passed to the wife in the event of her husband's death. If they had only had children together, then, in the event of her own death, the property would naturally be divided among the couple's children. However, if the husband also had children from a previous marriage, and the wife did not maintain a relationship with them after his death, then she could legally choose to make a new Will, leaving the home to her children only and leaving her husband's children precisely nothing.

To ensure this does not happen, it is advised that both parties in the partnership prepare irrevocable Wills so that all of their children from all relationships will benefit from the joint Estate, when both partners are denied. …

Calculate Cost Basis

How to calculate cost basis can be a confusing concept to those who contemplate selling their real estate. Along with fair market value and holding period, cost basis represents one of three key components in identifying the amount of potential tax that may be due on the sale of the property.

Unfortunately, how to calculate cost basis is not a common concept ingrained in us through our normal day-to-day educational experience. However, it very quickly becomes very real as we explore various real estate exit and transition strategies.

A good place to start in developing an understanding how to calculate cost basis is by refining capital gain. What are capital gains and how do they apply to real estate? In simpleest terms, a capital gain is the appreciation between the original cost and current sale price. The federal government and most state governments tax this "gain" if the asset is sold.

The sales procedures less any associated selling costs represent the "value" of the property being sold. It does not matter if the property is encumbered by debt or not in this calculation. And, it does not matter if all proceeds are received at the time of sale or not. The net result is still the value of the property at the time of sale – the top number in our simple mathematical equation to determine the amount of "gain" in the property.

In contrast, cost basis is the bottom number that is subtracted from value to give us the answer to our gain question. Simply stated, cost basis is the original cost of the property, plus any improvements made by the owner. Improvements can be items such as:

  • Installing utilities on a building lot (electrical pole, well, septic system, etc)
  • New roof or deck
  • Remodeling the interior of the home
  • Numerous other improvements performed by the owner

When selling property, it is imperative to define the cost basis of the investment. Accuracyely define any improvements made on the property and compare it to the current value. The difference is the capital gain and subsequent amount that could have been taxed by the government during the sale. By having developed an accurate cost basis, you will be better prepared to take advantage of the various capital gain tax planning options. …

North Fulton and Alpharetta Real Estate – Signs of Life

Is that a light at the end of the long, dark tunnel otherwise known as the Great Housing Meltdown of the 21st Century? It might be.

We've recently seen some of the most encouraging statistics for the housing market in some time, including North Fulton real estate. Housing starts nationwide jumped for the third straight month in May, by over 17 percent- "fresh evidence that the beleaguered housing market is beginning to stabilize," opined the Wall Street Journal. Closer to home, AJC Business columnist Thomas Oliver recently quoted a local expert who notes that the excess supply of houses is finally beginning to be absorbed.

Oliver also listed seven major economic development projects that have closed in recent weeks, which will add 4,000 new area jobs. With new jobs come new residents, more demand for housing; and in time, higher North Fulton real estate prices.

A reasonably factor in the positive housing statistics may be the efforts that have been undertaken by the federal government to help turn the housing market around. One of the first was a new first-time homebuyer tax credit that was part of the $ 787 billion American Recovery and Reinvestment Act (aka the Stimulus Plan) that was signed by President Obama in February.

If you qualify as a "first-time homebuyer" you may be able to receive up to an $ 8,000 tax credit if you buy a home before November 30 of this year. The home must be your principal residence (second homes and investment homes do not count) and the credit phases out for higher income couples and individuals.

In addition, Governor Perdue recently signed legislation that provides a state income tax credit of up to $ 1,800 for all purchasers of single-family homes in Georgia. Homes must be purchased by the end of this November and there are no income restrictions. One-third of the credit can be claimed in each of the next three tax years.

More recently, as part of its comprehensive Financial Stability Plan, the Obama administration has introduced the Making Home Affordable program, which is designed to "stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels , "according to the website http://www.makinghomeaffordable.gov

It consist of two parts:

o The Home Affordable Refinance Program is giving as many as 4 to 5 million homeowners whose loans are owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. It's designed to help responsible homeowners who are current on their mortgage payments but have been unable to refinance because their homes have fallen in value and they have no longer have sufficient equity.

You may qualify for this program even if your mortgage balance is more than the current market value of your home, as long as the balance does not exceed 105 percent of this value.

o The Home Affordable Modification Program is giving as many as 3 to 4 million …

Reasons Not To Become A Real Estate Agent

Real estate can be a great career, but it is not as easy as it looks to become successful. In my last article I talked about the reasons why you should become a real estate agent. Before I get into the reasons of why you should not become a realtor I want to go over the reasons why you should. First and foremost, the harder you work the more money you are going to make. Not only can you make a lot of money but there is no limit to how much money you can make. Another reason why you should become a real estate agent is that you can create your own schedule. With a flexible schedule you are able to sleep in when you need to, and go home to watch a basketball game during March Madness. I will get to the reasons why a flexible schedule is not always good a little later. One final reason that you should become a real estate agent is because you can have a major impact on a lot of people.

If you like meeting the needs of your peers then this may be the right profession for you. However, before you decide to jump right in, let me explain to you the reasons why you should think twice about becoming a realtor.

The main reason why you should stay away from real estate is because it is usually based solely on commission. That means that if you do not sell anything, you do not make anything. I was naïve when getting into the real estate profession about how expensive it was. I did not realize there were realtor fees every year, nor was I aware of how expensive it was to get a license. You also need to consider the amount of money you will spend in technology. For example you are going to want a good computer that you can bring with you at all times. Also, your cell phone bill is going to be higher than you wanted because people will be contacting you at all times. Really the most expensive part of real estate is the advertising. There are many different methods for advertising but they all seem to be expensive. Just letting all your friends and family know that you are in the business is expensive. If you are looking for a steady pay check, this is not the profession to get into.

There are always going to be great times and at times it will be terrible. However, the longer you work in real estate the more likely you will see a consistency in pay checks.
The second reason you should stay out of real estate is because of the amount of time you need to work to become successful. Not only will you be working a lot, but you will also work Saturdays and even Sundays to do open houses. You need to let your family know that you are not always going to …

Real Estate Investing Course

There are many types of courses available to learn real estate investment. There are home study courses, online courses and books that you can purchase to study real estate investment. The choices can be very overwhelming so it is very important for you to know how to choose the right course for you.

Try searching in the Internet and you can easily find hundreds of courses and e-books. Most will talk about why it is good for you, why it's the best form of investment available. But they are not really teaching you the strategies.

Here is the list of the important points that you should learn in the course and these can guide you in choosing the right course.

1) Understand the "flipping property" process. This system is one of the most recommended techniques in real estate investment. This involves buying an under-priced property, doing some fixes and sell at market value within a short period of time. Sounds easy but there are a lot more to learn on this system. You need to understand how to choose the property, what to do with it, when to sell, etc.

2) There are many vacant and abandoned homes which you can make profit. But you need to know how to find the owners and how to search for such houses.

3) You also need to learn how to determine the value of the property. You need to assess the cost involved in the renovation or repairs. Some investors employ the help of professional agents to help them calculate the value of the property. This can be cost so it will be better if you yourself know how to assess a property.

4) Another important thing you need to learn is how to sell to potential buyers. There are strategies on how to make your presentation appealing to the buyers. For example, Investors and insurance agents invest some amount of their salaries on training courses on how to improve the marketing and presentation to influence more buyers. How you present your offer is very important in closing a deal.

5) Next, you have to learn what you need to put on your sales page. Do you know that investors pay thousands of dollars to copywriters just to create one powerful sales pitch? This is because the sales page is the backbone of your business. This will help you gain a list of potential buyers.

6) You also need to learn how to determine the purchase price of a property.

It will also be better if the course is available in CD's so that you can repeat the lessons as many times you want.

Make sure that the course that you will choose can at least answer the questions listed above. There are online courses offering question and answer sessions. This is good as you can have a more interactive learning.

Enjoy the learning process and make sure to put it into use. …

Real Estate Investing – What is an REO?

For the novice real estate person, the terminology surrounding real estate and real estate investing can be difficult to understand at best. Real estate agents spend many years studying these terms and words. When trying to better understand real estate, the term REO may come up. An REO refers to a bank owned piece of real estate but can be a bit more complicated than that.

An REO stands for real estate owned. An REO is more than a single home; it is a group of homes owned by a bank or a lending institution. After a home is foreclosed upon, the bank has two options for selling that piece of property. The first option includes listing the property on the market, with the tag "bank owned". This will often tell the potential buyer that the lender is in dire straights and ready to sell the home in a very short time. If this tactic does not work, the bank will move the home into auction status and attempt to sell the home at auction to the highest bidder.

Unfortunately, for some properties, even an auction will not bring enough money to the lender to agree on the sale of the home. This leaves the lender in a tight situation. Banks are not in the business of real estate. The longer they hold on to that unsold home, the longer they are not getting money back for that property. It is during these cases that a bank or lending institution will turn the home to REO status.

REOs are often grouped together as a lot of homes. These homes are marketed towards investors as high price cuts. The lender is willing to go very low on the loan or even lose money on the deal if the investor is willing to buy up several properties at once from the lender. The lender reduces the price of the homes by removing any liens and fees associated with the pending mortgage.

REO real estate is often in mediocre to poor condition and investors pick up the properties often in hopes of remodeling and reselling or renting to regain the money spent on the properties. Investors have a higher chance of turning a profit, because the nature of investing is time. Banks, on the other hand, have no time to hold on to the home and no means through which to modify the home for a quicker sale. Investors, on the other hand, are happy to lift the property from the bank at the heavy discounts being offered.

Real estate REO sales are rarely, if ever purchased by individuals. Once a property enters REO status, the bank just wants to get rid of the property as quickly as possible and is often only willing to sell to a cash buyer like a real estate investor or large company. On rare occasions, the banks will be willing to sell a home or two off of a larger lot if the buyer has an approval …

Do You Know About The Most Popular Real Estate Scams?

Real estate scams are more and more popular, even though we can not see them yet. Comparing to robbing a bank, stealing $ 200,000-worth property via a false deed or an identity theft is trivial – and remarkably safe for the thieves. Their imagination is remarkable and oftentimes we can not do much more than minimizing the damage they inflict. By becoming aware of the most common real estate scams, you may be able to protect yourself or someone you know.

False Deeds, Part 1

Most real estate frauds revolve around forged deeds. The most popular scam is using a false deed in order to get a loan secured against a property. The thief then vanishes with all the money, leaving the real owner in danger of foreclosure by the bank – oftentimes the danger is real if the owner does not react on the first warnings received from the bank.

False Deeds, Part 2

Another common real estate fraud is selling a property without the owners consent. The uninhabited, recently inherited and otherwise unguarded property is the most probable target for such scams. The most inventive thieves are able to even sell the same property to several buyers at the same time. However, if they have sold it only to a single buyer, the fraud can go unnoticed for months or even a year. By that time, the "owner" is long gone, usually in another state, selling another home to someone else.

Real Deeds

The false deeds are bad enough, as such scams usually hit at random and they often can be reversed after the deed is thoroughly checked. However, the problem begins when the fraud is performed using a real deed, one that was either stolen or simply taken from the owner. The sad thing is that such thieves often recruit from our family and closest friends, people we would never suspect of anything.

The most popular way is to get some kind of authorization (or truly, just a signature) from the owner in addition to a deed. This way the thief can do whatever they like without any real risk for being done. This is an especially popular scam used against older people – a nurse or a family member either take a loan in the name of the elder or just force them into taking it.

Another, even more outrageous, real estate fraud is performed by unethical door-to-door loan sellers. Under the pretext of making home repairs, they force the seniors into signing some documents which are truly high-rate loan contracts secured against the property. As most seniors are unable to repay such debt, their homes are taken by the creditor (which was its goal from the beginning) and the elder is left homeless.

Defense

Defending against such frauds is difficult. If the thieves use false deeds, it is possible to prove that you had nothing to do with the loan or purchase. However, if they use a real deed and / or have your authorization, …

Dating Game

Whether you’re 15, 20, 30 or Fabulously40 plus, dating always seems like a task better left to someone else. And the older you get the harder it gets. After all, at 15 we are naïve, at 20 we are gullible, at 30 we are determined to find “Mr. Right,” and by 40 we become the biggest skeptics.

On the other hand, how are we supposed to find Mr. Right if we don’t submit ourselves to the dating pool?

Trying to find that one special man through friends and family almost never works, and blind dates get old and annoying very quickly. You know what I’m talking about. Your well-intentioned friends set you up with that “nice guy” that they swear will fill your life with love and abundance. Then you find yourself sitting across the dinner table from some insufferably self-centered slob, frantically searching your mind for a plausible excuse you can utter so he will shut up and take you home.

The only thing worse is having your mother (because she hears your biological clock ticking) arrange for you to meet a friend’s son. The description starts out, “He is a very nice guy and he is tall…” and goes downhill from there. As the warning bells go off inside your head and the color drains from you face, you realize the time has come to take destiny into your own hands.

So you take a deep breath, sit down at the keyboard, and type a URL that resembles something like [http://www.findingmrrighttonight]……com. You think of a user name and password, open your online dating account, and the adventure begins.

On A Mission

To your surprise and amazement, you awake next morning to find your email inbox overflowing with responses.

Your heart sinks as you open the first email and look at the picture of a bold, very unattractive guy who is “intrigued with your profile and wants to get to know you.” Nevertheless, you note that you have at least 30 more emails to read and plunge ahead, certain that there must be at least one prince among all the frogs.

As you open one email after another, you sift through attractive, successful, ugly, funny, boring males who have exposed themselves for your review. You feel somewhat empowered and confident that “things are looking up.” As you get to the last email, you realize there are several options you can consider replying to, and maybe one or two that actually look interesting.

All of a sudden you find your whole life revolving around this exciting new game of online dating. The next thing you know, you’re browsing your “matches” morning, noon and night, and are even skipping lunch to catch up on your latest online hopefuls. Your boss mentions several times that your work has slowed down. Your mother complains that you never call her. You ditch your friends for drinks during Happy hour day after day.

You now have a mission, and no one will stop you!

Mission …

How To Promote A Concert: A Few Tips

Please accept the information below as a guide offering suggestions for publicizing a concert and encourage maximum attendance

and success!

Some of the recommendations may not be appropriate for your type of concert. While some of the concepts may be obvious,

others may be new but worthy of a try.

I will cover the aspects of flyer/poster concert promotion and a few tips for media promotion..

Firstly, the single most importand thing when you want to promote a concert is to start delegating duties and make sure helpers know

what’s expected of them.

So let’s start!

[Flyers and Posters]

It’s importand to have a well designed, eye-catching flyer or poster. It will show people that the concert deserves their anticipation,

time and money.

The artist’s management may provide you with some flyers or posters to start with.

If you prefer to create your own flyer or poster, you should find a graphics professional or pronting company willing to donate

services in exchange for advertising..

If it’s the first time the artist is coming to your town or city be sure to include a testimonial on the flyer or poster. A flyer that simple

advertises an artist or a band will mean nothing to someone who has never heard of them!

Assign volunteers to post the flyers in places likely to attract the most attention. Try grocery stores, local chamber of Commerce

offices, Art Councils or other communities, malls, shoping plazas, music stores, book stores, galleries and other popular gathering

spots where flyers are displayed routinely but be sure to ask for permission before posting.

Do not forget to post the flyers or posters to the concert location itself! Try to hang posters as close to the average eye level as possible..

[Media and other sources of publicity]

List the concert in community calendars, Newspaper, Magazines or radio and TV stations if possible. Radio and Tv stations may be

willing to anounce events for free.

Be sure to notice them many weeks in advance. In the listing include the date of the concert, time, location, ticket price, ticket outlets,

sponsors of course and phone numbers for information.

Ask promotional material from the artist’s managementslike interviews, video clips, song samples, photographs etc. Try to deliver the

material to the media along with the news release anouncing the concert.

Make sure you follow up by phone. Ask from the management to arrange an interview with the artist(s) if possible. Discuss other

possibilities.

Provide artist’s promo material (if available) to radio stations likely to air it. Encourage them to play it often especially a week or two

before the concert. Have volunteers and friends telephone the stations and request more..!

If you are using an answering machine make a recording using sound clips from the artist. Advertise the phone numbers available to call

in newspapaer or on the radio. Include a short message in the recordings detailing concert info.

When you are online, subscribe to any music-related newsgroups or bulletin boards. Post messages about …

Canvas Wall Art Decor Tips – 4 Creative Ways To Hang Paintings

Hanging canvas wall art does not have to be confined to hammering a nail into the wall, installing a wire hanging kit behind a canvas and propping up the painting onto the nail on your wall. There are creative ways to hang artwork away from this standard method. Hanging paintings in unusual ways can add interest to your room's visual appeal.

The method of hanging your canvas can also make it the focal point of your room or wall. You can hang your art creatively but be sure not to add things that could take away the attention from the artwork itself. Sometimes your hanging method becomes part of the artwork itself. Here are 4 creative ways to hang your paintings:

1. Frame – You can make a painting look more formal with a frame. Frames can be expensive if you have them customized to your artwork. A cheaper way to frame your painting is by getting ready-made frames at home decor outlets or art stores. You can also look for old frames from thrift shops and yard sales, and refurbish them with new varnish or paint. Check out pretty metallic gold spray paints at hardware stores. Take measurement your canvas wall art before hunting for frames.

2. Ribbon – You can use pretty ribbons to hang your canvas on the wall. Instead of wiping the painting from behind, you can attach 2 pieces of ribbons to the top left and right sides of the canvas and tie it into a ribbon with some space between the knotted ribbon and the canvas. The ribbon will be visible above the canvas and used to hang the artwork to the nail on the wall. Get pretty ribbons but avoid too many patterns and printed designs on the ribbon to make the focus remain on the artwork.

3. Grouping – You can group several small pieces of paintings to make up the artwork on your wall or hallway. This is ideal if you have a lot of space to cover but only have small paintings or picture frames. It also makes an interesting wall art that house guests can view one by one. Group together photos or paintings with similar subjects.

4. Hang in rows – You can hang a series of paintings on one side of a wall like in a long office corridor, staircase, or hallway in your home. You can also do this in your living room or dining room. A good way to do this is by getting canvas art sets in 3 to 5 pieces of canvas that go together and make up one painting. These canvas art sets can have several pieces of canvas in the same size or in different sizes to make them an offset canvas.

Canvas wall art are expected to complement the surroundings and existing home design. Consider your color theme, furniture style and your personal tastes in artwork. Take measurements of your wall to make sure you do not buy canvas art …