SUMMARY OF MECHANIC’S LIEN DEADLINES D.C., MD, VA

May 10, 2017

SUMMARY OF MECHANIC’S LIEN DEADLINES D.C., MD & VA District of Columbia Deadlines– Notice of Mechanic’s Lien: All contractors must file in land records within 90 days of completion or termination of project. Complaint Enforcing Lien (lawsuit): Within 180 days after filing of Notice of Mechanic’s Lien or from the date of completion of the project. Must also… Read more »

THINGS TO DO AFTER THE DEATH OF A LOVED ONE

May 10, 2017

THINGS TO DO AFTER THE DEATH OF A LOVED ONE Within first 24 hours: Determine whether any of decedent’s property needs to be safeguarded, such as a motor vehicle, vacant house, etc. Ensure that proper funeral arrangements have been made. Within two weeks: Locate the decedent’s letter of instruction, if any. Locate the original Will… Read more »

What is a Will and Why Do I Need One?

April 11, 2017

 What is a Will? A will is a set of instructions, to both your loved ones and to the court, of how you’d like your final wishes to be executed.  Most wills are instructive as to how the deceased individual would like their property distributed after his or her death, however wills are also serve… Read more »

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Dying Without a Last Will and Testament

April 11, 2017

Dying Without a Last Will and Testament A will provides a set of instructions for distributing assets after an individual’s death.  When you die without a will, however, no such instructions exist.  The text below answers a number of questions that individuals have regarding the consequences of dying without a will. Dying Without a Will: Who’s In… Read more »

Legal Requirements For A Valid Will

April 11, 2017

Legal Requirements For A Valid Will  The formal requirements for a valid will often vary by jurisdiction.  Therefore, when creating a will, it is important to meet all the legal requirements of your state.  If a court holds your will invalid, your assets may fall victim to the laws of intestacy.  Though the law varies by state,… Read more »

Life Events to Consider When Making a Will

April 11, 2017

Life Events to Consider When Making a Will Throughout life, there are different events that people take into consideration when making a will. Individuals often make one will, and then never broach the subject again. This is a mistake.  An outdated last will and testament can cause serious problems during the probate process.  It is important to regularly update your… Read more »

IRA Beneficiary Trusts

March 29, 2017

IRA Beneficiary Trusts Many people use Individual Retirement Accounts (“IRAs”) as an investment tool when planning for retirement.  Like any other asset, IRA owners have the right to name whomever they wish to be the beneficiary of the account.  If you have significant assets, you might want to consider setting up a trust that is… Read more »

Estate Planning After Divorce

February 14, 2017

Estate Planning After Divorce Talking about, and planning for Estate Planning After Divorce is generally considered an off-putting conversation, and is often afforded low-priority status for most individuals. This rings especially true for people going through the emotional and financial turmoil that is divorce and the necessary changes to an estate plan that must follow.  However,… Read more »

Mechanic’s Lien Priority

January 12, 2017

Mechanic’s Lien Priority Mechanic’s lien priority functions differently than the priority of other types of liens. As is generally the case, a lien priority is typically determined by the timing of their filing. For example, the first lien filed with the Recorder of Deeds will be the first mortgage, which carries with it first priority… Read more »

What Is A Term Sheet?

January 11, 2017

WHAT IS A TERM SHEET? A term sheet is the first material written document that passes between a potential buyer and a potential seller in a business transaction. It can range in length and format, although some conventions have developed over time governing what elements are important to include in the document. A term sheet is… Read more »