The real estate market in St. Louis offers plenty of prospects for investment, but the wrong move could lead to disaster. In fact, would-be buyers should put a good deal of thought into strategy before beginning. According to the Huffington Post, determining short- and long-term goals should be the first step to investing in real estate, along with the research to identify whether they are actually feasible.
A concept that you likely will hear over and over when involved in estate planning in St. Louis is the importance of avoiding probate. There is good reason for this; the probate process can exact a heavy financial toll on your estate. Yet many who come to see us here at TDD Attorneys at Law LLC only view probate as a potential drain in their estate assets. There are other expenses that your estate (and by extension, your executor and beneficiaries) could face, such as estate taxes. Fortunately, there are steps that you can to avoid them, too.
Those who are considering purchasing an investment property in Missouri or who just want to earn some extra cash while away on weekends should keep an eye on a bill that passed in the Missouri House. According to reports from STLRealEstate.News, House lawmakers passed a bill that will protect rental websites like Airbnb and VRBO from local ordinances that would regulate how short-term rentals work. The bill, which passed with nearly two-thirds of the vote (90-49), prevents municipalities from creating regulations at the local level to fine residents who use these rental services to rent out their properties.
Planning for the eventuality of death might seem like a morbid task, and when you are in your 20s, you probably do not spend a lot of time worrying about terminal illness and fatal accidents. Unfortunately, tragedies do happen, and when they do, having a living will can be a significant help to your family. Here are a few reasons St. Louis Generation Xers should start thinking about creating a living will right now.
If you are working to secure a loan for your first Missouri home, you may have heard the term “debt-to-income ratio” thrown around a time or two. While potential lenders will look at factors such as your income and credit score, they, too, typically take a good, hard look at your debt-to-income ratio. At TDD Attorneys at Law, LLC, we help potential homebuyers navigate the complexities of the Missouri real estate market, and we can help you understand what you can do to make yourself more desirable to potential lenders.
While many in Missouri and across the nation may think of a will as something for the elderly to worry about, the truth is that estate planning is a good idea for everyone, regardless of age or marital status. The New York Times reports that more than 50 percent of American adults do not have a will, which means that if one is to die, his or her estate would go into probate, which can leave room for funds to be ill-used, leaving less to relatives who could otherwise benefit.