Why You Should Have an Attorney Represent You When Selling a House

What are the benefits of hiring a lawyer when selling your house or other real estate?  Attorneys’ Title Guaranty Fund, Inc. has published a free pamphlet that provides helpful insight for those looking to sell their home or real estate in the Sauk City and Prairie du Sac area.  View pdf – Selling a Home:  What You Need to Know.

Taggart Appointed Court Commissioner for Sauk County

LaRowe Gerlach Taggart LLP is happy to announce that Attorney Patrick J. Taggart, II has been appointed to serve as a Court Commissioner for Sauk County, Wisconsin.  While continuing his private practice of law in Sauk Prairie, the appointment authorizes Attorney Taggart to conduct supplementary hearings on the present financial status of a debtor and exercise certain powers of the court, as well as officiate marriage ceremonies throughout the state.

Question: I have been given a document to sign, when should I have an attorney review it?

The Sauk Prairie Eagle – Ask The Professional Column.  (Jared Walker Smith)

Answer:  Typically if you will need an attorney’s assistance relating to any document presented to you for your signature, you should not sign until you give it to your attorney for his or her review. Unfortunately it is all too common for a client, whether in a real estate matter or lawsuit, not to seek attorney assistance until after the client has already signed an important document. Generally after you have signed there is nothing an attorney can do but tell you what you have agreed to—including provisions that are not in your best interest and may have been preventable.

Sometimes clients feel pressured to sign immediately. For example there may be competing offers on a home purchase. A well-drafted attorney review clause, including provisions for full attorney review, objection and termination, may provide some protections in these cases. However, not all attorney review provisions are adequate. Consequently, it is usually best to get an attorney involved as early as possible in any lawsuit or important transaction. An initial consultation early in the process can save you significant time and money later.

Disclaimer: The above information is provided as general information, not as legal advice, and does not create an attorney client relationship. Before making any decisions regarding legal matters, individuals should consult with a qualified attorney.

Wisconsin Uniform Partnership Act Revised

At the end of March, a revised Uniform Partnership Act was signed into law in Wisconsin.  The new Chapter 178 of the Wisconsin Statutes will take effect on January 1, 2018.  However, partnerships can choose to opt in and be governed by the revised Act after July 1, 2016.  In addition, current partnerships can elect to continue to be governed by the previous law by filing paperwork to opt out of the revised Act prior to January 1, 2018.

Question: How can I transfer my house to my children outside of probate?

The Sauk Prairie Eagle – Ask The Professional Column.  (Jared Walker Smith)

Answer:  There are various options for transferring real estate without court involvement including revocable trusts and life estates. However, these may not be appropriate for every person or situation. A more popular and inexpensive method of transferring your house is designating one or more beneficiaries of the property with a transfer-on-death (TOD) deed. Upon your passing, ownership of the property will transfer to the listed beneficiaries subject to any mortgage, lien, or other encumbrance.

TOD’s offer flexibility because they are not permanent, can be revoked at any time prior to death, and do not establish any present interest in the property. Additionally, federal law typically prohibits any mortgage company from enforcing a due-on-sale clause when you designate a beneficiary of your house by TOD deed. Like any planning tool, TOD deeds are not appropriate for every situation, so please see a qualified attorney to determine what is right for you.

Disclaimer: The above information is provided as general information, not as legal advice, and does not create an attorney client relationship. Before making any decisions regarding legal matters, individuals should consult with a qualified attorney.