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Author: Marvin J. Frank, Estate Planning Attorney ?/? Category: Pet Planning, Wills and Trusts /? Posted: 22 Feb 2012
If you are like a lot of Americans, you may have a loyal four-legged friend by your side, and indeed dogs are fantastic companions.? In the eyes of your dog you are the most important person in the world and there is no denying that it is a good feeling to be held in such high esteem, even if it is coming from a canine point of view.
All kidding aside, pets are obviously valuable to people of all ages but owning a dog can be especially good for senior citizens. ?It is not uncommon for elders to experience loneliness late in their lives, and the companionship that a dog can provide can really go a long way toward filling that gap.
In addition, dogs can provide protection.? Of course there are some breeds that are capable guard dogs, but even small dogs have keen senses and they can let you know if they hear something outside that doesn?t sound quite right.
If you do have a dog late in your life you are going to have to take the animal into consideration when you are planning your estate.? Finding a caretaker is going to be the first step, and once you identify someone to care for your dog you are going to have to provide this individual with the financial resources necessary to do so.
One option that is available to you would be the creation of a pet trust. If you would like to find out how to set up a trust for the benefit of your dog don?t hesitate to get in touch with an experienced Indianapolis estate planning lawyer to set up an informative consultation.
Frank & Kraft, Attorneys at Law is a member of the American Academy of Estate Planning Attorneys.
Across the world, there are a wide variety of resources needed to successfully operate a business. Many people may be quick to name equipment, technology, wealth, and labor as key resources. However, a resource that is often overlooked is land. Land along with buildings located on the property make up real estate. The global real estate market holds great importance for businesses and people around the world involved in the buying and selling of property. This week the globalEDGE blog team will explore several aspects of the global real estate market including private real estate and green construction. This post will take a look inside the international housing market and the market characteristics of several different countries.
Overall, the world?s housing market continues to struggle with prices falling in many countries including Australia, Israel, Ireland, and the United States. With property prices in China falling, there is also speculation that this market decline could cause some long term problems for the economy. A study prepared by the Global Property Guide showed that housing prices fell in 25 out of 44 major countries. However, some countries experienced growth in their housing markets this past year. Two of these countries, Brazil and India, are considered major emerging economies and their housing markets have grown right alongside their economy. Housing prices in Brazil were up nearly 6 percent in 2011 quite possibly because Brazil is the next host country for the 2014 FIFA World Cup and the 2016 Summer Olympics. In India, there were strong price increases for housing in almost all major cities.
While Europe has had mixed results in the housing market, one particular country has been able to achieve consistent price growth. The real estate market in Germany was relatively unaffected by the global financial crisis, mainly because the banks followed a conservative lending approach and did not create a housing bubble. Home prices in Germany have increased about 5 percent annually since 2008 but now some areas in Germany have seen increases as much as 15 percent. Germany?s housing market has attracted foreign investments from many countries abroad including the United Kingdom, Japan, and several Middle Eastern countries.
As part of the Global Real Estate Blog Series, we will also take a look at the green construction trend in the global market and different aspects of commercial real estate around the world. Additionally, the February Newsletter features global real estate and the impacts of rising farmland prices on countries around the world. We encourage you to check out February?s newsletter and the rest of the blog series, hope you enjoy!
Over the past 10 years I?ve had several mentors and I still have one to this day. I plan on having a mentor until the day I die, because I?m pretty sure there is always going to be someone on the planet who is smarter than me.Just like everyone else, I?ve had good mentors and bad mentors, but my bad mentors were at the very beginning of my real estate career when I didn?t know what to look for, and I didn?t know how to tell if they were all hype and no substance.Ever since then I?ve been very fortunate to work with top people who have no doubt helped me become successful a lot sooner than if I had been trying to learn this business all by myself.
How Do You Find Quality Mentors? Well, first off, you need people who are actively in the business. I know that?s common sense but I ran into a lot of mentors who used to claim to me that they were now retired and hadn?t bought properties in years, but they were retired because they were so successful. Hearing that raised a major red flag. I know that true entrepreneurs really never retire and that even if they weren?t doing 50 deals a year, they should still be doing a few deals a year.Also, start local. Go to your local REIA and find out who the most successful person is. Find any way you can to learn from this person. I do know several good mentors who are not local, however, if you get one of these, you must be getting your mentoring directly from them. In other words, if some television guru is selling mentoring and you?re talking to one of his ?people,? that?s probably not a mentoring program you want to be in. You want to talk to the investor himself or herself.
Before you commit to mentoring there are a few things you need to ask your potential mentor. First, ask them what they?re doing right now and what types of deals they specialize in. If they have trouble answering that question, walk away. Next, ask for references. Any decent mentor should be able to refer past students who ?graduated? successfully and ended up buying some properties.Also, be sure to use the ?property test.? What this means is that you ask your potential mentor to give you the addresses of two or three of his properties so that you in fact know he does invest in real estate and own some rental properties. If the mentor refuses to give you any addresses, then again, walk away.For a brand new investor, I realize it?s not easy to spot a good mentor from a con artist, especially because you don?t know the business well enough yet, but using the information above will at least get you headed in the right direction.
Read the full post here?
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