Sams, Larkin & Huff, LLPSams, Larkin & Huff, LLP2023-12-14T20:03:38Zhttps://www.samslarkinhuff.com/feed/atom/WordPress/wp-content/uploads/sites/1404254/2019/11/cropped-site-identity2-1-32x32.jpgOn Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=510102023-12-13T15:12:39Z2023-12-13T15:12:39ZHow mortgage forbearance works
Mortgage forbearance lets you pause your mortgage payments for a set period of time. During forbearance, you do not need to pay your regular monthly mortgage bills. Forbearance does not erase what you owe, but it gives you breathing room when you cannot afford your loan.
You must request mortgage forbearance from your lender. If approved, you can stop making payments for several months without fees or foreclosure. At the end of forbearance, you will have options for catching up, such as repaying the missed payments all at once or over time.
How mortgage deferment works
While forbearance temporarily halts your mortgage payments, mortgage deferment is about paying back what you missed. By going with deferment, you delay repaying the payments not made during your forbearance period.
Instead of owing a lump sum when forbearance ends, you wait to settle up through options which include paying at the end of your loan term or when you refinance or sell your property. This provides more flexibility to recover financially before taking on additional mortgage expenses.
Both forbearance and deferment are possible
You do not need to pick either forbearance or deferment, as the two can work very well together. If you cannot provide payments now, forbearance offers temporary relief. When the forbearance period ends, deferment lets you slowly repay what you missed based on your situation.
Before considering alternatives like refinancing, reach out to your mortgage lender if you foresee payment issues. Discuss forbearance to halt payments for a few months. Then explore deferment versus other catch-up programs when forbearance concludes. This combination could help you avoid foreclosure or damaged credit during temporary hardships.
According to the real estate data producer ATTOM, there were nearly 96,000 properties that received foreclosure in the first quarter of 2023, 22% higher than the same quarter in 2022. However, lenders do not automatically insist on foreclosure, with many providing a variety of ways to help clients to not lose their real estate over short-term financial struggles.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=509182023-12-01T19:08:38Z2023-12-01T19:08:38ZRisk #1: Raging fires
Defective toasters are far more likely to cause a fire than those that work as advertised. Faulty wiring or malfunctioning parts can lead to overheating, creating an unsafe situation. The National Fire Protection Association claims that approximately 25% of blazes beginning with toasters result in injury or death. Besides the risk to one's safety, a toaster-induced inferno can result in extensive property damage.
Risk #2: Electric shocks
Toasters with design flaws also present an electrical hazard. Damaged cords and improperly constructed components expose users to high currents. Responsible owners inspect their toasters now and then for worrying signs. When they detect a problem, the item goes straight into the trash, and they find a replacement with a better safety rating.
Risk #3: Toxic emissions
In some cases, inferior toasters emit poisonous fumes or smoke. These harmful substances endanger one's health, especially in poorly ventilated spaces. Consumers should turn off and unplug their toasters the moment they detect gasses.
Broken toasters are a clear threat to the safety of all who use them. By looking for hints of trouble, consumers can enjoy the convenience of these beloved gadgets without worrying about the possibility of personal injury.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=509162023-12-01T15:52:46Z2023-12-01T15:52:46Z1. Unearth hidden debts and liens
A meticulous title search is akin to peeling back the layers of time, revealing any hidden encumbrances on the property. Unpaid debts, outstanding liens or unresolved issues from the past may lurk beneath the surface. Discovering these early can prevent future headaches and financial burdens, allowing for informed decision-making and potential negotiation before finalizing the deal.
2. Confirming ownership legitimacy
One of the fundamental aspects of a title search is confirming the legitimacy of ownership. This process ensures that the seller has the legal right to transfer the property, mitigating the risk of fraudulent transactions. Knowing that the person selling the property has the legal authority to do so adds an extra layer of security to the transaction.
3. Identifying restrictions and easements
Understanding the limitations and potential future obligations tied to a property is necessary for any prospective buyer. A thorough title search brings to light any restrictions or easements associated with the property, ranging from building limitations to shared access rights. This information allows buyers to make informed decisions based on the property's intended use and their long-term plans.
With high interest rates and a low inventory, which saw a 16.4% decrease between Septemeber 2022 and September 2023, finding the right property comes with challenges. Having all the information at hand through a title search paves the way for more secure transactions.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=509132023-11-10T19:30:05Z2023-11-10T19:30:05ZValidation of the will
If the person had a will, the court examines and validates it during the probate process. This step ensures that the will complies with legal requirements. It also confirms that the deceased person was of sound mind when they executed the will.
If the deceased person did not have a will, the court follows the rules of intestate succession.
Role of the executor
When the person's will names an executor, that named individual:
Manages the estate
Pays outstanding debts and taxes
Distributes assets according to the person's will or intestate laws
When the person does not have a will, the judge will appoint a personal representative to serve the functions of the executor.
Creditor notification
The personal representative must notify creditors of the deceased person's passing. The average Georgia household has nearly $9,000 in credit card debt, which passes to the estate when an individual dies.
Creditors have a specific period to file claims against the estate for remaining debts. The personal representative settles valid debt claims using the estate's assets.
Asset distribution
The executor or personal representative lists and values all property owned by the deceased. They will inventory real estate, personal assets and financial accounts.
After paying outstanding debt, the executor distributes assets to the deceased person's beneficiaries. The probate court oversees this distribution to ensure it aligns with legal requirements.
Closure of the estate
Probate ends when the personal representative petitions the court to close the estate. The court reviews the administration of the estate and issues an order officially closing the probate process.
The duration of probate varies depending on the complexity of the estate, the presence of a will and disputes among heirs or creditors. Simple probate cases typically take a few months, while more complex cases may last a year or more.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=509112023-10-30T19:35:14Z2023-10-30T19:35:14ZWhiplash
Whiplash is a particularly common neck injury that occurs when a vehicle is rear-ended. This injury happens when the force of the impact causes the head to jerk forward and then snap back suddenly. The neck's soft tissues, such as muscles, tendons and ligaments, can become strained or torn during this rapid movement. Symptoms of whiplash can include neck pain, stiffness, headaches and limited range of motion.
Herniated discs
In a rear-end collision, the force exerted on the body can cause damage to the spine's discs. A herniated disc occurs when the soft, gel-like center of a spinal disc pushes through its tougher exterior. This can lead to pain, numbness, tingling and weakness in the back and extremities. When a disc becomes herniated, it can compress nearby nerves, causing significant discomfort and potential long-term complications.
Compression fractures
These fractures occur when the vertebrae in the spine compress due to the force of the collision. Symptoms can include severe back pain, loss of height and changes in posture. In some cases, these fractures may require surgery or long-term treatment to alleviate the pain and stabilize the spine.
Strains and sprains
The sudden jolt of a rear-end collision can also cause strains and sprains in the neck and back. Strains involve the stretching or tearing of muscles or tendons, while sprains affect ligaments. These injuries can lead to pain, swelling and restricted movement. While strains and sprains are often less severe than other neck and back injuries, they still require appropriate care and rehabilitation to ensure a full recovery.
According to the National Safety Council, there were approximately 3,890,000 rear-end collisions in 2021, accounting for 41.7% of all collisions with other vehicles. Rear-ends are very common and potentially very devastating, so be sure to always take appropriate action afterward.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=509082023-10-21T16:01:54Z2023-10-21T16:01:54ZUse an NDA
Non-disclosure agreements are legal contracts that help secure trade secrets. When you engage in discussions or partnerships with external parties, such as vendors, clients or even employees, you may have them sign an NDA beforehand. These agreements legally bind the signatories from disclosing specific information.
By outlining the responsibilities and penalties for breaches, NDAs establish clear expectations for all parties involved. According to CNBC, a third of U.S. businesses use an NDA, so this is not an uncommon protective measure for a company.
Conduct an exit interview
When an employee leaves your company, take the opportunity to engage in a thorough exit interview. During this conversation, discuss the return of any confidential company information, such as documents, access cards or digital files. Confirm that the departing employee understands and agrees to abide by their obligations concerning such information.
This step may take care of any actions needed to protect your information from leaks. It also helps remind an employee of future obligations to keep your trade secrets from the public.
Improve data security
Implementing security measures at your workplace could help prevent both unintentional and purposeful leaks of your trade secrets. You can restrict access to sensitive information only to those who genuinely need it. Additional actions include encrypting digital files, using secure password protocols and multi-factor authentication, and updating and patching software to guard against vulnerabilities.
Protecting your trade secrets requires a multi-faceted approach. In the event you litigate a partner or employee over an unauthorized disclosure, your agreements and on-site security measures may help convince a court that you are serious about guarding your company information.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=509052023-10-05T22:06:59Z2023-10-05T22:06:20ZSports cars
Known for their speed and agility, sports cars often top the list for triggering accidents. Sleek designs and rapid acceleration actively encourage aggressive driving behaviors. The combination of high performance and sometimes less forgiving handling can lead to dangerous situations, especially in the hands of less experienced drivers.
SUVs and pickup trucks
Although they often provide better protection for their occupants, the size and weight of pickups and SUVs pose risks to others. Their higher center of gravity often leads to rollovers if not driven carefully. Also, they have significant blind spots that make collisions with smaller cars, pedestrians and cyclists all too common.
Older vehicles
Vintage rides, particularly those without modern safety features, are more commonly the root of motor vehicle incidents. They lack advanced driver control assistance technologies that help prevent human error. Since people are driving their cars for longer than ever, this is an increasing problem. Research shows that the average age of light trucks and cars in America is 12.5 years.
Knowing which types of wheels are more predisposed to accidents helps everyone make safer roadworthy decisions. That said, much of the burden rests with their operators. Drivers of these vehicles must recognize the danger and behave on the road accordingly.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=509032023-09-26T17:31:14Z2023-09-26T17:31:14ZUnderstand zoning
Zoning lies at the heart of municipal land use. Local governments divide land into specific zones, each with its set of permitted uses. Before purchasing a commercial property, you need to verify its zoning designation. This will tell you whether your intended business activity aligns with what the zone allows. For example, a property zoned for retail might not permit industrial operations.
Development and building codes
Apart from zoning, local municipalities have development and building codes that dictate how you can develop or modify a property. These codes cover various aspects, from structural requirements to safety regulations. As a prospective property owner, familiarize yourself with these codes in your city. This ensures any modifications or constructions you plan meet local standards.
Historic and environmental considerations
Some properties in Georgia may fall within historic districts or environmentally sensitive areas. If you buy a property in one of these zones, there may be additional restrictions on how you can alter or develop the land. This might influence the aesthetics of the building, materials you use or even the landscaping around your business.
Public hearings
Often, changes in municipal land use or requests for variances involve public hearings. During these sessions, local residents and stakeholders can voice their opinions on proposed developments or changes. If you ever find yourself wanting to request a variance or change in land use for your property, you will likely participate in one of these hearings. Engaging positively with the community during these events can make a difference in the outcome.
By familiarizing yourself with the various processes and how land use could affect your business, you can ensure that your business thrives and remains compliant with local regulations.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=509012023-09-19T20:15:04Z2023-09-19T20:15:04ZWhy teen passengers pose a threat to teen drivers
Novice drivers are more prone to making errors in judgment and reacting inadequately to unexpected situations. The presence of peers can further distract them from focusing on the road and their surroundings. Teen passengers may also exert peer pressure on the driver, encouraging risky behaviors like speeding or texting while driving. Additionally, the conversations, laughter and overall excitement of having friends in the car may prove distracting, diverting the driver's attention from the road.
When teens drive with teen passengers, there is also a frequent lack of adult supervision. Without an experienced adult in the car, there is no one to provide guidance or intervene in case of reckless driving. This absence of supervision can lead to more dangerous driving behaviors.
How teen passengers affect injury, fatality rates
Per Teen Driver Source, 56% of teenage passenger deaths in the United States occur in crashes involving teenage drivers. Research shows that teen drivers with teen passengers face a significantly higher risk of involvement in accidents.
To help reduce the number of teen-related accidents, Georgia implemented a Graduated Driver Licensing program. This program is a three-step process that helps teens get more experience driving and includes restrictions on the number of passengers teen drivers can have in the car during their initial stages of licensure.]]>On Behalf of Sams, Larkin & Huff, LLPhttps://www.samslarkinhuff.com/?p=508992023-09-17T17:39:39Z2023-09-17T17:39:39ZLack of mental capacity
One common reason for will contests is the belief that the person who created the will, known as the testator, lacked the mental capacity to make sound decisions at the time of creating the will. This could be due to conditions such as dementia, mental illness or other cognitive impairments.
There must be evidence that proves the testator could not comprehend the implications of their decisions to invalidate the will.
Undue influence
Contestants may argue that someone unduly influenced the testator to make specific provisions in the will. This influence could involve coercion or manipulation, consequently leading to a will that does not reflect the testator's true wishes.
Improper execution
Georgia law outlines specific requirements for the proper execution of a will, such as the stipulation that two witnesses must sign the will in the presence of the testator to render a will valid. Failure to follow these formalities could lead to the will's contestation.
Fraud
Contestants may claim evidence of fraud in the creation of a will. Fraud may include false statements or misrepresentations made to the testator, leading them to include provisions they would not have otherwise.
Revocation
An individual may contest a will upon discovery of a newer will, or if the testator purposely destroyed the existing will with the intention of revoking it. Such cases may give cause to invalidate the previous will.
Disinheritance
When a will excludes a family member or heir who would typically inherit under intestacy laws, that individual may contest the will. They may argue that their omission was unintentional or influenced by external factors.
Forgery
Forged wills are a serious matter. If evidence suggests that someone altered or forged the testator's signature or any part of the will, it can be grounds for contesting the will's validity.
Creating a will with care and precision minimizes the risk that someone will have substantiated reason to contest it. This offers individuals peace of mind with having their final wishes honored.]]>