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assets

Assets are everything that you own that can be used for the payment of debt. Assets could include cars, a house, land, bank accounts, stocks and bonds, even items like furniture, clothing, jewelry and collectibles. To calculate net worth, subtract everything you owe from the sum total of your assets. Learn more about your assets and what they mean in different transactions on this page.

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    Leaving an Abusive Home: How to Protect Your Assets

Leaving an Abusive Home: How to Protect Your Assets

By Ilyce Glink| 2019-06-03T15:14:30-05:00 May 17th, 2019|

Leaving an abusive home: How to protect your assets when you fear for your safety but rely on the ownership interest for your financial future. Q: I pay half the mortgage on the home that I own with my boyfriend. I live there with him and our son. The title of the house is in [...]

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    How Do I Protect My Assets When Facing A Potential Liability Lawsuit?

How Do I Protect My Assets When Facing A Potential Liability Lawsuit?

By Ilyce Glink| 2017-10-20T15:34:57-05:00 October 20th, 2017|

When facing a potential liability lawsuit, it’s important to take immediate action to protect the rest of your assets. Here’s where to start. Q: My brother and I have owned a rental property together for more than 15 years. There is a current mortgage, and both of our names are on the mortgage and on [...]

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    Objectivity Helps Divide Assets During a Divorce

Objectivity Helps Divide Assets During a Divorce

By Ilyce Glink| 2017-09-07T13:09:11-05:00 September 7th, 2017|

During a divorce, it helps to stay objective. An emotional attachment to your assets isn’t always worth the financial burden of fighting to keep them. Q: I am a 60-year old female with a part-time minimum wage job and I just got served papers for the dissolution of a 17-year marriage. We have a beautiful [...]

  • if I sell my mom's second home will she face penalties from medicaid?
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    Will Selling My Mom’s House Affect Her Medicaid?

Will Selling My Mom’s House Affect Her Medicaid?

By Ilyce Glink| 2017-08-18T10:50:38-05:00 August 18th, 2017|

Medicaid can penalize you for selling assets, like a second home, for less than they're worth. An attorney can help find the best solution for you and your family. Q: My parents own two homes, one is their primary residence, and the other belonged to my mother’s parents which she received upon their death. Both [...]

  • Donald Trump what is a blind trust
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    What is a Blind Trust? Why Won’t Donald Trump Use One?

What is a Blind Trust? Why Won’t Donald Trump Use One?

By Ilyce Glink| 2017-09-25T13:50:43-05:00 November 29th, 2016|

I received this email from a long-time reader of my nationally-syndicated column, which she reads in the Columbus dispatch every Sunday. I think it's a question a lot of readers have, so I'm answering it here. Q: I have a question for you. Since Donald Trump won the election and became president-elect, I hear a [...]

  • having financial discussions with aging parents
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    How to Have a Financial Discussion With Aging Parents

How to Have a Financial Discussion With Aging Parents

By Ilyce Glink| 2017-04-10T16:14:01-05:00 January 22nd, 2016|

Family and money—the combination can be tricky, and when it comes to talking about finances with aging parents, years of communication and family culture can often get in the way. That’s why many financial professionals say that using a sensitive, respectful, and tactful tone with adult parents may make financial conversations easier. “It is a [...]

  • probate without will
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    How Does Probate Work Without A Will?

How Does Probate Work Without A Will?

By Ilyce Glink| 2020-01-22T16:10:57-06:00 July 8th, 2011|

How does probate work without a will? The purpose of probate is to distribute assets and debt, if there is no will, the estate may not need to go through it. Q: What happens, if a person passes away and no one files probate because the estate has no assets? Do any of the deceased [...]

  • property siezed by medicaid to pay medical bills
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    Property Seizure by Medicaid to Pay Medical Bill

Property Seizure by Medicaid to Pay Medical Bill

By Ilyce Glink| 2017-05-10T15:57:17-05:00 September 17th, 2010|

Property seizure by Medicaid to pay medical bill is possible if homeowner is delinquent on payments with no other assets. Medicaid can seize property to pay medical bills. Seniors needing assistance to pay medical bills may receive Medicaid coverage. Seniors with funds are expected to pay medical bills or face property seizure for Medicaid. Medicaid can seize property and other assets to pay for outstanding medical bills.

Avoid Probate With Transfer On Death (TOD) Deed

By Ilyce Glink| 2017-08-23T16:16:00-05:00 January 19th, 2009|

A Florida homeowner asks how to avoid probate for her estate. She wants to leave her condo to her son but does not want him to pay probate costs. Can she set up a transfer on death deed so that her son avoids probate? Probate laws vary by state and so she should consult an estate attorney to better understand Florida probate laws.

Power Of Attorney Does Not Control All Assets

By Ilyce Glink| 2017-08-23T16:16:27-05:00 December 20th, 2008|

A woman tries to reclaim assets after her father's death. Before dying he lived with his mother and gave her power of attorney to handle his affairs. The woman says her grandmother passed on a car and house when the father left them to her (his daughter). What can the woman do to get the car and the house back? What rights did the power of attorney give to the grandmother?

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