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August 4, 2023 by Joan Neuffer

Catching a Wave

One of my favorite things about private practice is that I get to meet and interact with so many interesting people in different stages of their lives.  My estate planning clients are usually a little older, wiser and in the process of coming to terms with the past and their own mortality.  Many who come to see me are motivated by a recent life-changing event, such as the birth of a new baby, a change in marital status or the passing of a loved one.

Recently, I met Ray (not his real name), a 70ish gentleman who related a wonderful love story about marrying his high-school sweetheart.  The marriage, unfortunately, was short-lived and ended in divorce.  He admitted his decision to divorce was the biggest regret of his life, along with never having children.

Years passed. Ray loved the ocean and eventually became a professional surfer, but never remarried.  Remarkably, nearly 40 years later, he received an email from his former wife.  The two lovebirds soon remarried and spent thirteen glorious years together. Recently, Ray’s wife passed away, leaving him as a beneficiary of her substantial estate, and in charge of carrying out her wishes carefully detailed in her will and trust she wrote herself.  Ray was lost and overwhelmed. Could I help?

Losing a spouse is not easy and the grieving process is long and unpredictable. A kind word, a listening ear and a shoulder to lean on is sometimes all that is needed.  But the surviving spouse left in charge of carrying out the terms of their loved one’s plan has many decisions to make, such as whether a probate is necessary, how and when to make distributions of property to other beneficiaries, and how to deal with tax issues, known and unknown.

Life is challenging and full of joyful surprises; discovering that special place in nature, finding new friends, renewing past relationships, and welcoming a child, once estranged, back home.  Timing of these events is left to the universe.  For married folks though, the time will come when your partner dies. The one left behind will need professional advice about what comes next.  Each case is slightly different and must be evaluated based on your partner’s stated wishes, current law and the specific facts and circumstances. In most cases, the laws of the state where your partner passed away will govern.

My friend agreed to share his story on this blog.

Interested in learning more?  Give me a call at 775-392-4223 or email me at feedback@dterralaw.com.

Filed Under: Law Blog, Probate Administration

May 30, 2023 by Joan Neuffer

Tiger by the Tail

Years ago, I remember listening to country-western music performed by such artists as Buck Owens, Merle Haggard, and Johnny Cash, to name a few.  Since then, the music of the old country-western bands (rock and hillbilly) has changed dramatically and now appeals to a much wider audience.

Buck Owens co-wrote and performed “I’ve Got a Tiger by the Tail” about a romance that became increasingly challenging, requiring more and more time, effort, and arguably, financial commitment.  Much like a new romance, the growth and success of your business may in fact exceed your wildest dreams.

Without exception, my clients who run their own businesses, whether as a sole proprietor or as the CEO of a corporation, experience the same growing pains and have expressed to me their frustration and weariness moving from one crisis to the next on a daily basis.  To save your sanity and keep your valuable business from veering off track, consider the following:

  • If you are a sole proprietor, call your attorney to discuss creating an LLC or corporation so that you can limit your personal liability if something goes wrong
  • Always maintain separate bank and credit accounts for personal and business transactions
  • Hire a competent bookkeeper to generate monthly records of income and expenses and then review them religiously
  • Hire an attorney to create an operating agreement that accurately reflects what you do and then review, modify and amend it as needed
  • Create a working client contact list and update it monthly
  • Create a trusted vendor list to build relationships with the people who serve you
  • Finally, learn to give AND receive assistance from other respected members in your profession and take the time necessary to develop those relationships.

It’s never easy to hire another person to weigh in on what you are doing, or to delegate your work.  I understand.  If you can’t do all the things on this list (which is the “short” version), try one or two.  In no time, you’ll have some basic controls in place to help you manage your growing business even on the most stressful of days.

Interested in learning more?  Give me a call at 775-392-4223 or email me at feedback@dterralaw.com.

Filed Under: Business, Law Blog

May 5, 2023 by Joan Neuffer

Foreclosure in Nevada

Homeowners who survived the Great Recession of 2008 learned first-hand what happens when our economy tanks: millions of jobs vanish, retirement savings are depleted and real estate values plummet.  During this time, hardworking Americans not only found themselves suddenly unemployed, but unable to make the mortgage payments on their own homes. Nevada was no exception.

In response, our Nevada Supreme Court created the Foreclosure Mediation Program (FMP) in 2009.  The program was designed to help those in default on their home mortgage payments due to loss of employment or other serious financial hardship.  The primary goal of the program was to bring homeowners and lenders together to work out a mutually agreeable solution to avoid a foreclosure.  Some options included loan modifications, refinancing, short sales, “cash for keys” and temporary forebearance of mortgage payments.  If the parties were unable to agree, the lender sold the home without ever stepping foot in a courtroom.  Here’s how it works:

A homeowner that has fallen behind on the mortgage payments can apply for assistance once a Notice of Default is recorded.  The homeowner must act quickly by filing a Petition for Foreclosure Mediation Assistance in the District Court in the county where the property is located within 30 days after service of the Notice of Default or within 21 days after service of the Complaint for Judicial Foreclosure. The Petition begins the mediation period and temporarily stays the normal foreclosure process set forth under Nevada law.

Over the years, the FMP rules have been modified and statutes governing foreclosure have been amended through legislation. Although the recession crisis has passed, the program is still going strong and currently managed by Home Means Nevada, a nonprofit entity established by the Nevada Department of Business and Industry.  You can access their website at:  http://homemnv.org.  Another great online resource is the Civil Law Self-Help Center’s website at: Foreclosure Mediation – Civil Law Self-Help Center (civillawselfhelpcenter.org)

Interested in learning more?  Give me a call at 775-392-4223 or email me at feedback@dterralaw.com.

 

Filed Under: Law Blog, Real Estate

April 29, 2023 by Joan Neuffer

Farm to Table

Dear Readers:  I’ve created a new category especially for my local readers here in Douglas County, Nevada.  Here you will find current information on the farm-to-table project approved by the Douglas County Board of County Commissioners in 2016 and which is now in the early stages of construction in Gardnerville.

Imagine yourself in your own home, waking up a few minutes after sunrise.  It’s early spring; planting season in Carson Valley.  Time for coffee and hand watering your newly planted seedlings in the raised beds steps away in your back yard.  There’s a community barn within walking distance, already bustling with activity in preparation for classes on soil health, planting perennials, and how to cook, prepare and preserve vegetables harvested in the fall.  You and your neighbors plan to gather for a potluck dinner at the community barn in the early evening, and then take a short walk on nearby trails that stretch throughout the neighborhood.  The day would not be complete without a leisurely tour of the sprawling community vegetable gardens, strawberry and raspberry bushes, and the nearby orchards full of apple, pear, peach and cherry trees. Soon, these fresh fruits and vegetables will be in your kitchen and on your own dinner table at home.

Sounds wonderful, doesn’t it? This is an example of the farm-to-table concept envisioned by the developers of the Farmstead at Corley Ranch.  The land for this project was recently acquired by a local builder now working on entitlements and obtaining permits necessary to make the farm-to-table lifestyle a reality right here in Douglas County.

You can read more about the Farmstead at Corley Ranch in an article I posted on this website and also here: https://www.dterralaw.com/wp-content/uploads/CVT-Special-Edition-Vol.-6.pdf

Stay tuned for progress and updates on this exciting project!  Send comments, questions and suggestions to feedback@dterralaw.com.

 

Filed Under: Farmstead at Corley Ranch, Law Blog

September 2, 2022 by Joan Neuffer

Nevada’s Deed on Death

Nevada’s Deed on Death statute provides for the transfer of your real property after you pass away using a special type of deed that is recorded in the county recorder’s office.  Many people utilize this statute when they have a small estate and choose not to create a living trust along with their will. Recent amendments to the statute in 2021 have improved and streamlined the process.  This is how it works:

The owner of real estate, as Grantor, prepares a Deed on Death and records it in the county recorder’s office where the property is located. The Deed provides that upon the death of the Grantor, the property passes to the beneficiary named in the Deed.  There may be more than one beneficiary.  The Grantor maintains full ownership and control during his or her lifetime and can revoke the Deed on Death at any time. Revocation must be in writing and recorded in the county recorder’s office.  A Deed on Death does not encumber the Grantor’s property nor convey ownership to the beneficiary during Grantor’s lifetime.

When the Grantor passes away, an Affidavit of Death of Grantor is prepared and recorded, along with Grantor’s Death Certificate.  Under the new law, no transfer tax is collected. The new law also requires a 90-day Notice to Creditors to be published in the local newspaper, and a copy of the Notice must be mailed to known creditors and the Department of Health and Human Services.  If no creditors come forward during the 90-day period, their claims are forever barred, and the beneficiary is free to sell the property if they so desire. The Personal Representative is not required to file a petition for probate of the property and no court supervision is required.

If you are considering using a Deed on Death as opposed to creating a living trust in order to avoid probate, you should seek legal advice first.  Using the new process is fairly simple and inexpensive, but a good lawyer can help you understand the differences between a Deed on Death and a living trust, the pros and cons of each, and then help you decide what works best for you based on your particular situation.

Interested in learning more?  Give me a call at 775-392-4223 or email me at feedback@dterralaw.com.

 

Filed Under: Law Blog, Real Estate

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Contact Us

Joan E. Neuffer, Esq. | d’terra law, LLC
1692 County Road, Suite C
Minden, NV 89423
Email: joan@dterralaw.com
Phone: 775-392-4223
www.dterralaw.com

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