Here is the slideshow from our last CE class. If you didn't attend you can still view the slideshow, but you don't get the CE credit! Request access here:
My oldest son just turned 18 and is graduating from high school! Words cannot describe how proud I am of him and his hard journey to adulthood! This kid is going places! Okay, enough gushing. We had a conversation last week about his upcoming senior trip to a foreign land. We discussed some contingency planning related to foreign travel and it reminded me that there are a few things I can do that will allow me to help him in emergencies abroad or away at college.
Not really “estate planning,” but these can really come in handy when your adult child leaves home:
1. HIPAA waiver: Your distant college student gets sick or injured and nobody will tell you what’s going on because of privacy laws. Have them sign a HIPAA waiver so that you can get this information or help facilitate exchanging information with your family doctor.
2. Durable Power of Attorney: Your college student’s wallet was stolen on spring break in --you could help by contacting the bank and his credit cards but you are a stranger to them. With a POA you can help him take care of business. A POA can also be used to provide access to your child’s online accounts on his or her behalf. She needs to be bailed out of jail? Do it with her money!
3. FERPA Waiver: Your college student’s grades will not be sent to you even if you are paying tuition. Your child can grant you the right to request his or her academic records by signing a FERPA Waiver. This can also include your child’s discussions with a school mental health counselor.
4. Simple Will: We hope it will never happen, but in the event of your child’s death, you can at least have a simple will in place by which you can recover personal property from his or her apartment, retrieve an automobile, and obtain the right to his or her digital information (photos on facebook, dropbox, etc.).
Some of the above is a bit hyperbolic, so I should emphasize these documents should not be used against your child or to extend your parental control. But, they should be used to extend your parental love and ability to help in times of need. Please call us to help you put these together for your adult children.
Despite the well-known fact that everyone alive today will kick the bucket at one point or another, nearly 60 percent of Americans admitted they do not have a will. We'd like to help change that. 5 Reasons For Your Consideration:
1. Make your decisions now. Remember when Mom said to choose to not smoke when you were in 3rd grade so that you wouldn't be forced to choose when your high school friends were handing you a cigarette? Same point applies to your Will, your Advance Healthcare Directive, and your Durable Power of Attorney, have a plan now, don't make your loved ones scramble later.
2. Someone's gotta look out for the kids.If you want a specific family member or friend to take care of your minor children, but that person is not your next of kin, you'll need to designate him or her specifically.
3.Billy Joel sang, Only the Good Die Young. But a lot of life happens in your 20s and 30s. You might get married, have children, file for divorce or go through a life-changing medical event. Think about who you would leave your assets to if you were to pass away, such as friends, family or charitable causes
4.You choose, not the legislature. Unless you want all of your assets going arbitrarily to your "next of kin" according to state statute, you need a will. Non-traditional families, blended families, and even plain ol' vanilla should take care.
5. Family Business. You can designate someone to operate the business during your incapacity or after your death. Kids not ready or not interested? No problem, Establish a method to wind up the business or sell it for top dollar after your death instead of it just dying with you.
Help us help you!
According to Utah court records, since the middle of December, 19 lawsuits have been filed involving real estate companies. This overall number is a little low --probably due to the holidays. To me, the surprise was how many were of Workforce Services Liens.
A Workforce Services Lien is not a mere lawsuit, it is an automatic judgment lien. They are filed when a company fails to register and pay certain employment taxes. It indicates that the affected realtors missed some basic elements while setting up their businesses. Who knows what else they missed!
We would love to meet with you and review your company structure, operating agreements, and any other matter to help you avoid unpleasant surprises later this year.
Utah Real Estate Continuing Education COURSE #: RC151109 CREDIT HOURS: 1
Friday, November 11, 2016
11:00am – 12:00pm
COURT CASE STUDY - MISREPRESENTATION (CORE CREDIT)
COURSE #: RC151109 CREDIT HOURS: 1
This course follows the facts and law of a Utah appellate court case. It is intended to assist agents in recognizing their fiduciary duties, confidentiality requirements, what constitutes a material fact, and a misrepresentation. It also covers the legal elements of fraud/intentional misrepresentation, and the elements of negligent misrepresentation.
Utah Real Estate Continuing Education: RESOLVING BOUNDARY DISPUTES (CORE) COURSE #: RC140901
Thursday, November 17, 2016
9:00am – 11:00am
RESOLVING BOUNDARY DISPUTES (CORE)
COURSE #: RC140901 CREDIT HOURS: 2
This course will include how to understand surveys and different land maps, boundary related seller disclosure issues, understanding and dealing with encroachments, identifying and dealing with survey discrepancies and boundary disputes, adverse possession and boundary by acquiescence, and quiet title actions.
Water Law for Real Estate Agents CE Class Notes (October 20, 2016 at Keller Williams Park City). More information in the Blog.
Real Estate CE Class: Working with FSBOs (July 29, 2016 at Engel & Volkers Park City).
Shawn Potter, Wasatch Law Group Attorney, quoted in Forbes.com article about legal issues arising from business startups and entrepreneur disputes. 7/14/2016.
Wasatch Law Group Welcomes Mirjam C. Magnus, Esq. to the firm. 3/1/2016.
Real EstateCE Class: Closing Costs & Repairs to Be Made By Seller. June 11, 2015.
Wasatch Law Group welcomes Christian A. Kesselring, Esq. 4/15/2015.
Wasatch Law Group attorney Shawn Potter quoted in U.S. News article about vacation rentals. 3/24/2015.
Wasatch Law Group welcomes Jason S. Wilcox, Esq. 3/1/2015.
Real Estate CE Class: Blank Addendum Uses.
Water Law for Realtors Continuing Education Class.
Boundary Disputes for Realtors Continuing Education Class.