Posts by LAW OFFICES OF LEONARD KOMEN, P.C.
SECOND MORTGAGE AND JUNIOR LIEN PROTECTION
Missouri Requests For Notice of Sale (foreclosures) In general, the holder of a previously recorded Deed of Trust is not required to give notice to anyone else who has a Deed of Trust against the same real estate unless a form of Request for Notice of Sale has been recorded at least 45 days earlier, …
Read MoreLENDING DOCUMENTATION
Applicable laws: FEDERAL 12 U.S.C. 1464 Home Owners Loan Act (HOLA) 12 CFR Section 560 (State laws pre-empted and not pre-empted by federal law.) 12 CFR Section 591 (Federal permanent preemption of state prohibitions on due-on-sale clauses) MISSOURI REVISED STATUTES Chapter 407 Merchandising Practices Act Chapter 427 Creditor Protection (Lender’s non-liability for environmental violations) Chapter…
Read MorePROBATE AND THE PROCESS
The probate court and probate process have proper functions. Probate is necessary to ensure your assets are distributed correctly and as you may dictate by a Will, and to protect the rights of your heirs and creditors. If you have a Will, you can make very specific directions and change what the statutes otherwise require. …
Read MoreESTATE PLANNING
I. General Estate and Gift Tax Law. For 2023, the estate tax exemption is $12,920.00. With the correct language in a Trust, that can be doubled for a married couple. Unless the total estate valuation is expected to exceed these amounts, no addition estate tax planning is necessary. II. IRAs and Retirement Plans Ownership of…
Read MoreWHAT HAPPENS AFTER YOUR ESTATE PLAN IS SIGNED
SAFEGUARDING DOCUMENTS TRANSFERRING ASSETS INTO ONE TRUST In General. You transfer ownership of all assets that have your name on them to the same name as the trust. Creditors can not pursue individual debt claims against an IRREVOCABLE Trust except within four years after assets are transferred to it, and in some cases, five…
Read MoreESTATE PLANNING, TRUST AND PROBATE LAW OFFICE IN THE ST. LOUIS, MISSOURI AREA
Estate Planning: With Len Komen, you receive individual counsel regarding estates, trusts, and asset protection. There is no fee for an initial conference to analyze your needs. We cover the St. Louis and surrounding county areas and will meet at your home or private conference area at your place of business to make it…
Read MoreESTATE PLANNING, TRUST AND PROBATE LAW OFFICE IN THE ST. LOUIS, MISSOURI AREA
Estate Planning: With Len Komen, you receive individual counsel regarding estates, trusts, and asset protection. There is no fee for an initial conference to analyze your needs. We cover the St. Louis and surrounding county areas and will meet at your home or private conference area at your place of business to make it…
Read MoreFAMILY AND MEDICAL LEAVE ACT OF 1993 (AFMLA@)
AS AMENDED From the U.S. Department of Labor: The FMLA entitles eligible employees of covered employers to take unpaid, job-protected leave for specified family and medical reasons with continuation of group health insurance coverage under the same terms and conditions as if the employee had not taken leave. Covered Employers. – any employer engaged in…
Read MoreCOBRA AND CONTINUING MEDICAL COVERAGE
Terminated/terminating employees are entitled to notice that they may continue medical insurance coverage previously offered, under the Federal COBRA and Missouri state laws. And your dependents (i.e., spouse, former spouse or children) are also eligible for COBRA coverage, even if you do not sign up for COBRA coverage. FEDERAL LAW – COBRA (Consolidated Omnibus…
Read MoreCONTRACTS – ESCROW – WHO GETS THE INTEREST?
In the absence of statute or case law to the contrary, parties are held to have read and understood the language of the contract they sign, and all terms of the contract govern the relationship of the parties. (One of the secrets of the practice of law is merely reading the contract). But what if…
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