What Happens When An Hoa Is Dissolved? Estate Planning Attorney Joseph Hudack says that after the HOA was disbanded, homeowners may have to deal with various everyday problems that the HOA had previously taken care of: Who will care for the condominium building’s external and structural components, for instance, if the HOA is a condominium…
The Truth About Disbanding an HOA? One of the reasons why ending a HOA is so challenging is because of this. An HOA cannot be dissolved without the consent of many interested parties. If residents want to disband their HOA but one or more interested parties object, the HOA shall continue to exist. The board…
Terminating a Homeowners Association Technically, yes, but practically, it is impractical due to the difficulty. Most homeowners have not given legal or practical considerations any thought when it comes to terminating a homeowners association (“HOA”). Therefore, as was covered in this article, homeowners should exercise caution before attempting to dissolve their HOA and speak with…
What to Do if You Think Your HOA Is Fraudulent? HOA Fraud – Theft, fraud, or embezzlement can occur in any organization, while it’s not a pleasant subject, volunteer organizations like homeowners’ associations are particularly susceptible. Members must be able to spot fraud with ease and comprehend how to effectively safeguard their association because significant…
How to Manage the A-B Trust? Re-Registration The A-B Trust – The trustee is appointed in accordance with the terms of the trust agreement upon the passing of the husband or wife. Since the husband and wife are typically the first trustees, the sole trusteeship usually passes to the survivor when the first trustee passes…
Dividing the Trust Estate Planning Attorney Joseph Hudack knows that the main concern is correctly dividing the trust into two sub-trusts after the first death. This split is done by determining the fair market value of all the trust’s assets as of the date of death. The trustee will then be able to choose which…
Administration of the A-B Trust Upon the first spouse’s passing, the living trust is divided into two components, Trust A and Trust B (A-B Trust). These two components are also known as the “bypass trust” and the “survivor’s trust.” The assets of the trust’s deceased grantor, which generally include both the decedent’s separate property and…
A Pet Trust Estate Planning Attorney Joseph Hudack knows that you can establish a pet trust in your will, as a component of a revocable living trust, or as a separate trust. It’s crucial to remember when choosing a trustee that they could not always be the same person who will be caring for the…
Donate Money to Charity Estate Planning Attorney Joseph Hudack says that if you might choose to make a donation to your preferred charity or charities. You should, however, also be certain that you can support yourself. How do you behave? You may want to include them in your will and/or revocable trust if you want…
AB 1410 The Davis-Stirling Common Interest Development Act, which governs homeowners associations in the state of California, is amended by Assembly Bill 1410. This legislation effectively forbids HOAs from forbidding homeowners or members from discussing problems they are having in the neighborhood on social media. The measure, however, extends the platform to all online resources,…