It’s safe to say that after a very unpredictable, tumultuous 2020, many of us are feeling hopeful for the New Year! The idea of starting the next chapter of your life in a new year can be exciting. 2021 could be the year your family finally moves into a new home. Or the year you take the next step into real estate investing. Maybe you’re interested in securing the future of your family’s finances with a living will? Whatever legal journey you’re about to embark on, allow attorney Ben Weaver to guide you!
Here’s How You Can Prepare for the New Year with 23 Legal…
First Time Home Buyers
Your dream of becoming a first time home buyer was put on hold during the challenges of 2020. You – like many others – felt uncomfortable jumping into a large financial purchase while so much was still unknown. Now that our country and the housing market seem to be stabilizing, you’re ready to take on purchasing your first home. Unsure if you should hire a real estate agent or a realtor? Do you have a trusted real estate attorney on your side? All three of these professionals are responsible for different aspects in the home buying process…and they’re all necessary for your big move to be a success! Get familiar with the roles of these agents and why your attorney works alongside them here.
Home Buyers
You’ve spent the past year carefully saving for your next home. Your family has grown and it’s time to level up. Now that you’ve found the perfect home, you want to make sure you secure this property without any issues! You also need to sell your current home while purchasing this new home. Buying a new home and selling your current home simultaneously can be stressful and confusing. There are many phases and important factors that alter how the process is completed. Whether you are selling before you buy, or buying before selling, dual real estate transactions have complexities that require the assistance of a knowledgeable, trustworthy attorney! Ben Weaver explains how he can make this dual real estate transaction go smoothly.
Real Estate Investing
Are you excited about the possibility of investing in residential real estate? Need a few reasons why you should invest in real estate? Here are 8 great reasons why you should own real estate:
- 90% of millionaires have become a millionaire as a result of owning real estate. It adds substantially to your net worth.
- Entrepreneurs have a greater opportunity to become wealthy through real estate than other businesses they may wish to start.
- Real estate doesn’t require a degree from college and doesn’t care what GPA you got, nor care where you went to school.
- Real estate doesn’t discriminate based on age, race, background, etc. but laws make it so that you have to be at least 18 years of age to purchase real estate as this is the age you are legally perceived as having the ability to read and understand contracts.
- Credit scores don’t matter in real estate as there are many other ways to purchase real estate besides bank financing. If you use bank financing then you will need a credit score.
- You don’t have to be involved in real estate full time to be successful
- You can live in another state or country and still invest in real estate in a specific city other than the one in which you live in
- Real estate can provide you with steady monthly income.
If these eight reasons have inspired you to learn more about investing, start your journey by reading our guide to real estate investment!
Eager Home Flippers
There are times when what seems like a quick home flip takes longer than planned. You may have discovered a property you just couldn’t turn your back on. This property has been an investment – but you’ve found that with the current events in our country, selling the home isn’t possible at the moment. Rather than leave the property sitting and losing money every month while you wait to find a buyer, your real estate attorney can help you to draft leases specifically for potential tenants to rent or sublet your property until a final sale on the property can be made. Learn all the helpful ways attorney Ben Weaver can help you work through challenging property issues!
Home Sellers
Already own your own home? This gives you an advantage to real estate investment! The average person is going to get their first real estate ownership experience the traditional way, by purchasing a home. When you buy your first home, it gives you a wealth of experience when it comes to tasks like: hiring appraisers, dealing with realtors, signing and reviewing documents with an attorney, and finally the closing. We advise against DIY home sellers! Don’t make the mistake of signing legal documents without working with a reputable lawyer. Understand the important roles a real estate attorney plays during the selling process.
Estate Planning and Living Wills
Now more than ever, having security for your loved ones is vital. You obviously don’t want to be morbid but securing financial stability for your loved one can protect them if the unfortunate were to ever happen. By creating a living will with Ben Weaver, you can also protect your family from any unwanted confusion and potential arguments. The same reasons a will might feel challenging to create is the same reason it may cause conflict. If your will is outdated, members of your family can be missing from vital financial decisions. If you don’t have a will at all, the people connected to you may have different ideas about how things should be divided. This even includes your wishes regarding where to be buried. Protect your loved ones from potentially painful disagreements by making these decisions ahead of time! Read more about establishing a living will here.
Power of Attorney
Having a power of attorney can be an act of life or death. Responsible for assigning an individual, known as the “attorney in fact”, who can make financial decisions for you, should you be incapacitated. When financial challenges, bills need paying, investments need managing or assets need to be sold, this document will allow the attorney in fact to act on your behalf. A power of attorney can also make medical decisions for you if you are ever unable to. Choosing one is a major decision, read our previous blog to understand the roles and responsibilities of a power of attorney.
As you can see, there are many ways 23 Legal can be of service to you and your family in the new year! While we understand that life is full of surprises and uncertainty, having a trusted attorney to guide you through legal matters is a great way to be prepared for anything.
Attorney Ben Weaver is known for going above and beyond for his clients. Whether you request guidance in buying or selling your home, have an estate planning question, or another legal problem in regard to real estate, you’ll need a trustworthy lawyer who cares! As we say goodbye to 2020, let’s embrace 2021 with hope for a promising future.
Please feel free to contact us for assistance or with any questions you have. Click here to read 5-star client reviews!
Attorney Ben Weaver and the 23 Legal Team Wish You a Happy, Healthy New Year!
Why Choose 23 Legal
23 Legal offers Real Estate and Estate Planning legal services to individuals, families, community associations and small business owners throughout Chicagoland. We know how intimidating “the law” can be. In fact, when most people think of law offices, they think of stuffy leather chairs, huge wooden desks and pompous lawyers who charge outrageous fees. That’s not us! We believe in 1-to-1; the same lawyer should work with you all the way through. Whether you have an estate planning issue, family trust concern, or you have a legal problem in regard to a new home, business, real estate or remodel, you need a lawyer who cares. That’s where Ben comes in! We are great listeners; more than that, we are lawyers who believe that our clients always come first.
