Kathy Foran - REALTY EXECUTIVES Boston West



Posted by Kathy Foran on 5/9/2021

Photo by Aymane Jdidi via Pixabay

Most people do not think of creating an estate plan before they are in their 40s or even their 50s. However, if you own a home, regardless of the cost of the home and regardless of your age, you should create an estate plan. Even if you are in your 20s, your family could end up losing a high-end home if you are in an accident and become incapacitated or you lose your life. Always contact an experienced estate attorney for help drafting your will and other estate documents, including trusts.

Titling Your Home

In today’s day and age, many people decide to live together without formally getting married. Most closing agents will title your home so that you own one half and your significant other owns one half. In most states, your significant other’s half of the house will have to go through probate unless the house is appropriately deeded. The ways you may title your home include:

  • Joint Tenancy: Gives you equal rights to the property. If one party passes, the ownership of that person’s half passes to the surviving tenants. However, if you are not married, you will have an extra step to take if you want to transfer your half to someone not listed on the deed.

  • Tenancy in Common: This is the most common way deeds are titled if two people buying a house are not married. Both parties have equal rights to the property. However, if one person passes, their half goes to their heirs and not to the other person on the deed unless that person is an heir. Each person can take out a mortgage on their half without getting permission from the others on the deed. This type of title usually has to go through probate.

  • Tenants by the Entirety: Only those legally married may title their home as tenants by the entirety. The house is automatically transferred to the living spouse. The property does not have to go through probate if it is titled as tenants by the entirety.

You may title your home in other ways, though those ways are not as common. Creating a will and a trust, along with titling your home properly, ensures that your half goes to the person you want it to go to, and, if done correctly, could save your spouse or significant other the hassle of going through probate.

Creating a Trust

Many types of trusts exist. When you choose the right type of trust for your situation, you may be able to avoid probate and avoid some taxes when your home transfers on your death. However, the main reason for a trust is so that your loved one may continue living in the home or taking care of the financial responsibility of your home should you become incapacitated. Certain trusts also keep your home and its equity from being eaten up by creditors such as nursing homes and doctors. Always consult an attorney to discuss the complexities of creating a trust and the rest of your estate plan.





Posted by Kathy Foran on 5/7/2021

Nothing to do but move right into this newly updated 4 brm, full basement ranch w/1 car att garage & huge family rm addition! Entire interior of house has been completely painted including garage & basement! Gorgeous refinished hardwood flrs! Lg, bright fireplaced living rm w/wood fl, formal dining rm w/wood fl opens to lovely 20x14 family rm w/2 skylts, new fl, ceiling fan & lighting! Updated white kit w/recessed Lts, stainless steel appliances, gas cooking, granite & subway tile backsplash! Master brm w/wood fl, dbl closet & updated 1/2 bath w/tile fl & Plantation shutters! Lg 2nd brm w/wood fl & dbl closet & 2 additional bdrms w/wood flrs! Updated full bath w/tile fl, bead board, tiled tub/shower & Plantation Shutters! Expansion potential in huge basement! Lovely corner lot w/brick patio! Many more updates inc, new gas water heater 2021, water line 2020, gas furnace 2018, vinyl siding 2009, architectural roof 2003 & more! Walk to High School, shops & mins to MA Pike & all major rts!

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Posted by Kathy Foran on 5/7/2021

Waterfront on Lake Cochituate! Amazing views of the Lake from the huge back deck! Large 8 rm, 4 brm, 2.5 bth Gambrel in wonderful Oaks Neighborhood! Bright open floor plan w/large kitchen opening to lovely fireplaced family rm w/large picture window & slider to huge deck! Formal living rm w/crown molding & picture window & formal dining rm w/picture window and crown molding! 4 large bedrooms on the 2nd level! Huge master suite w/gorgeous waterviews, full bath & 2 large double closets! 5 Mini split systems, provide both heat and air conditioning! So much potential for more space in huge walk out lower level w/fireplace & wood stove & slider to backyard! Beautiful custom stone walls in both the front and backyards! Walk easily right down to the Lake from the backyard and enjoy, swimming, boating, fishing, kayaking, ice skating and walk to the Dam & the mud hole! Wonderful neighborhood location & walk to schools, shops & St George Church! 2 mins to the MA Pike, shopping & all major Rts!

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Posted by Kathy Foran on 5/7/2021

Move right into this young, bright & open 3 brm Colonial w/oversized 2 car attached garage(added in 2008) in wonderful cul de sac neighborhood! Bright open floor plan w/Fireplaced living rm & Acacia wood floor opens to dining rm w/Bay window & Acacia wood floor! Open kitchen w/granite counters, tile floor & slider to 3 season sun rm(added in 2006)w/cathedral ceiling & slider to private paver patio & private backyard! Convenient mud room off garage w/tiled floor, recessed Lts & custom made wood bin! Two story stairway w/Palladian window leads to 2nd level w/Large Master bedroom w/double closet & door to oversized Hollywood bath w/tile floor & 2 additional bedrooms! Huge family rm/play rm in lower level w/recessed lighting! Gas heat! Irrigation system w/separate meter! Wonderful convenient location! Walk to Danforth Park, Saxonville Beach, all schools, shops, Old Danforth St Bridge overlooking Sudbury River & more! Minutes to MA Pike and all major routes!

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Posted by Kathy Foran on 5/7/2021

Lovely bright and open 3 brm, 2.5 bth ranch w/oversized garage in wonderful location on the Wayland line! Large bright living rm w/big Bay window! Dining rm w/picture window opens to lovely updated white kitchen (2016) w/stone countertop, stainless steel appliances, subway tile backsplash, Farmhouse sink & French door to huge family rm w/fireplace w/wood stove insert, brick wall & oversized slider to private fenced backyard w/blue stone patio, abutting the aqueduct! Large Master bedroom w/double closet & full bath! 2 additional bedrooms both w/double closets! More updates include, Central Air in 2010, architectural roof in 2016, some windows in 2013, new driveway in 2019 & More! Great location, walk to schools & minutes to all major routes & shopping!

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