Is a Handwritten Will Legally Valid?

February 21, 2013 by

Is a Handwritten Will Legally Valid?

will_and_testament Are handwritten wills, also known as holographic wills, legally valid?

Usually, when people think about creating a will or a trust, they envision a formal event involving witnesses, a lawyer, and maybe a notary. A handwritten will seems almost too easy. What’s to stop someone from creating a fake will and signing your name?

Actually, the idea is that because the will is in the will maker’s own handwriting, it is inherently more trustworthy in some ways. So, how is a holographic or handwritten will different from a typed-out will? Is writing a will by hand easier than having a lawyer draft one for you?

General Requirements for Handwritten Wills

In general, a typed-out will usually requires the signature of two witnesses to make it a legally valid document. By comparison, in some states, handwritten wills require no witnesses for the will to be valid.

Of course, laws vary from state to state, so looking up your state’s statutes on wills is essential to ensure that your will is valid.

For example, in some states, a holographic will must be entirely in the will maker’s own handwriting for it to be valid, and must include certain things like a dated signature; a printed form with blanks that you fill in may not automatically be valid unless there are witnesses, like with a regular will. However, other states will allow a partially handwritten will to be valid without witnesses, under certain conditions.

Potential Complications

Creating a completely handwritten will can also add some complications into the mix. Some probate judges may be hesitant to recognize handwritten wills because they are difficult to verify, as they do not have any witnesses who can attest to the will.

And while creating a handwritten will may seem to simplify the process, it can actually make things more difficult when you are dealing with a large number of assets. Trying to make changes to a handwritten will by crossing things out, for example, can also create confusion and lead to drawn-out court battles, long after the will maker has passed.

How to Avoid Problems with a Handwritten Will

When putting together a will on your own, handwritten or not, there are some ways to make sure it will hold up in court. It’s often wise to consult an experienced wills lawyer who can look it over, but many are uncomfortable with just reviewing and “signing off” on wills that they didn’t personally draft. And if you need to make changes, or have more questions later on, you’ll be paying for those additional services.

Another option is to sign up for a personal legal plan, some of which offer basic will-drafting and reviewing services. These plans can be affordable too: LegalStreet, for example, works out to just $12.50 a month and includes an annual will review and updates, along with unlimited access to on-call local attorneys who can help with many other legal issues.

Bottom line: A handwritten will can raise many legal questions, but they can be valid, depending on the circumstances. To learn more about wills, check out FindLaw’s free Guide to Writing a Will .

For more information, visit www.findlaw.com

 

John Marcotte

www.boulderhomes4u.com

720-771-9401

Filed Under: Local news Tagged With: , ,

More Americans Believe Economy Headed in Right Direction

February 19, 2013 by

More Americans Believe Economy Headed in Right Direction

Despite continued uncertainty surrounding the fiscal cliff, Americans are showing increased confidence in the housing market and the direction of the economy. According to results from Fannie Mae’s November 2012 National Housing Survey, such improvement bodes especially well for continued strengthening in the housing sector, which in turn is likely to support overall economic growth.

“Consumer attitudes toward both the economy and the housing market continue to gather momentum, with many of our 11 key National Housing Survey indicators at or near their two-and-a-half-year highs,” says Doug Duncan, senior vice president and chief economist of Fannie Mae. “On the housing front, attitudes about the current selling environment continue to improve, with a significant increase in those saying it would be a good time to sell. This growing confidence in a housing recovery, in addition to other factors, may reinforce growing consumer optimism regarding the improving direction of the general economy. Those indicating that the economy is on the right track has risen to 44 percent while those saying it’s on the wrong track has fallen to 50 percent, the smallest gap since the survey’s inception.”

The November survey results show significant movement across many of the indicators. The share of respondents who say now is a good time to sell a home jumped 5 percentage points in November to 23 percent – the highest level since the survey began in June 2010 – narrowing the gap with those who say it is a good time to buy. The percentage of respondents who expect mortgage rates to go up increased by 4 percentage points to 41 percent. Those expecting home prices to go down within the next year also rose by 4 percentage points to 14 percent over last month, a rebound from the survey’s record low in the prior month, while the share who believe home prices will go up in the next 12 months edged up to 37 percent, tying the survey high. Of note, 51 percent of respondents now say it would be easy to get a mortgage, marking the highest rate since the survey’s inception (this survey finding is in addition to the 11 National Housing Survey indictors).

When asked about the economy, those who say it is on the wrong track dipped 6 percentage points since October and a total of 25 percentage points in the past year. Respondents expressed some improvement in the status of their current finances; however, due potentially to the looming fiscal cliff, the share who expect their personal financial situation to get worse over the next 12 months rose 5 percentage points to 18 percent – the highest level since December 2011.

Survey Highlights

Homeownership and Renting

• Average home price change expectation held steady at 1.7 percent.
• Fourteen percent of those surveyed say that home prices will go down in the next 12 months, a 4 percentage point increase over last month.
• The percentage who think mortgage rates will go up continued to rise, increasing 4 percentage points in November to 41 percent.
• Twenty-three percent of respondents say it is a good time to sell, a 5 percentage point increase over last month, and the highest level since the survey’s inception.
• The average rental price expectation hit 4 percent in November, a 0.9 percent rise over the past two months.
• Forty-eight percent of those surveyed say home rental prices will go up in the next 12 months, a slight decrease from last month.
• The share of respondents who said they would buy if they were going to move held relatively steady at 67 percent.
• Fifty-one percent of respondents now say it would be easy to get a mortgage, marking the highest rate since the survey’s inception.

The Economy and Household Finances

• Hitting 50 percent for the first time since the survey’s inception, the percentage who think the economy is on the wrong track has declined by 25 percentage points over the past year, and by 6 percentage points from last month.
• The percentage who expect their personal financial situation to get worse over the next 12 months rose 5 percentage points to 18 percent, the highest level since December 2011.
• Meanwhile, 21 percent of respondents say their household income is significantly higher than it was 12 months ago.
• Household expenses remained stable over the past month, with 56 percent responding that their household expenses stayed the same compared to 12 months ago.

For more information, visit www.fanniemae.com

 

John Marcotte

www.boulderhomes4u.com

720-771-9401

Filed Under: Local news, Mortgage, Real Estate Topics Tagged With: , , , ,

10 Fraud Blind Spots to Watch Out for in 2013

February 15, 2013 by

10 Fraud Blind Spots to Watch Out for in 2013

fraud_magnifying_class When you’re driving, you want to be sure you’re covering all your blind spots in order to stay safe on the road. Well the same goes for fraud.

“Just like legitimate businesses, fraudsters are planning ahead for 2013,” says James Gifas, head of RBS Citizens Treasury Solutions.

“During and just after the holidays is when many fraud schemes pick up, as more people feel stretched with greater year-end expenses,” he says. “And as we look ahead into 2013, companies may have blind spots they may not be considering when trying to protect themselves, particularly when it comes to employee fraud.”

RBS Citizens Treasury Solutions experts are currently conducting a fraud education campaign for commercial customers to make sure clients are aware of the areas of vulnerability at their firms, including new online threats that will pose the greatest risk in 2013.

Gifas and his team have identified ten common security gaps that companies need to address to protect themselves when planning for 2013:

10 Fraud Blind Spots

1. Are you using weak passwords? “Hackers have more processing power to crack passwords than ever before, and can relatively quickly test all words in the dictionary to see if the right one comes up. Use instead a more complicated combination of letters, numbers, and symbols that aren’t easily searchable.”

2. Do employees keep passwords “hidden” in their top desk drawer? “The strongest password in the world won’t protect your account if a perpetrator can read it from a slip of paper in your office. Keep passwords behind lock and key, just as you would cash.”

3. Are you training your employees against social engineering? “Many fraudsters find it easier to trick a person into revealing account credentials than to hack into a computer. Training your employees to not provide any user name or password information over the phone or email – even if the source seems legitimate and unless and until the source is independently verified – is a vital measure of protection.

4. Do you lock your computer when you step away from your desk? “As we all know, a minute away from our desk can sometimes turn into much longer, as meetings pop up and we get stuck taking care of a crisis. Again, just as you wouldn’t leave cash lying around on your desk, always lock your computer as well. Also, software such as Trusteer Rapport provides additional high-tech protection against infiltrators who try to break into your computer electronically.”

5. How well do you know your vendors and business partners? “While you may somewhat confidently share wire instructions with long-time vendors or business partners, it is wise to conduct some due diligence around new vendors or other payees. Using the Positive Pay services for checks and ACH and Payee Positive Pay for check disbursement accounts adds in an extra layer of protection.”

6. Do you conduct surprise audits? “The American Bankers Association reports that 60 percent of all fraud incidents within a business involve employees. Surprise audits are a good way to detect and deter occupational fraud schemes so that funds can’t be manipulated ahead of the audit.”

7. Does your company enforce vacation policies? “Similarly, making sure that there are periods of time in which employees are away from their desks and have their records available for oversight has been supported by financial regulators like the SEC for years, but all companies can benefit from this policy. A one- or two-week window can provide the additional transparency needed to expose internal fraud.”

8. Are dual approvals required for your payments? “Implementing banking processes that require dual approvals for activities such as payments and wire transfers is an easy way to minimize certain fraud risks. Companies can also require additional approvals before a new vendor is added to a payment system, as well as use debit blocks and alerts to reduce the risk of unauthorized payments.” With customers increasingly wanting to make cashless payments, owning a portable card machine has never been more important. You can visit feecheckers.com to get the cheapest card payment machine.

9. Is there open access to company checkbooks? “In 2012, 85 percent of organizations experienced actual or attempted check fraud, according to the Association for Financial Professionals’ latest fraud survey. Having company checkbooks out in the open leaves your bank account information visible and increases the risk of check theft. Always lock up any checkbooks.”

10. Does your company have on-site collections? “Outsourcing collections mitigates the risks that emerge when receivables checks are lying around the office.”

“Whether it’s our personal banking information or the company accounts we are responsible for, the most basic advice we can give is to use common sense – and make sure your employees do, too,” says Gifas. “Walking employees through scenarios and conducting training around fraud threats can help to minimize the headaches and real financial losses that happen when fraud occurs.”

Source: RBS Citizens Financial Group, Inc.

 

John Marcotte

www.boulderhomes4u.com

720-771-9401

Search all of Boulder County Listings for free here: www.boulderhomes4u.com

 

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January 2013 Real Estate Market Update

February 12, 2013 by

January – 2013 Real Estate Market Update

January Residential Stats

Entire MLS (All Areas)

Residential Highlights:

  • 17.6% increase in the number of closed sales year-over-year (350)
  • 22.3% decrease in average days on market
  • 30.2% decrease in number of active listings
  • 10.8% increase in average price – sold ($301,827)

Condo Highlights:

  • 27.9% increase in number of closes sales year-over-year (133)
  • 35.2% decrease in average days on market
  • 39.6% decrease in number of active listings
  • 16.5% increase in average price – sold ($170,769)

Click here for Full report of entire MLS

Courtesy of Land Title Guarantee Company

 

John Marcotte

720-771-9401

Search all Boulder County homes for sale

 

 

Filed Under: Local news Tagged With: ,

Pending Home Sales Down in December but Remain on Uptrend

January 30, 2013 by

Pending Home Sales Down in December but Remain on Uptrend

house_for_sale_sign_foreground Pending home sales declined in December but have stayed above year-ago levels for 20 consecutive months, according to the National Association of REALTORS®.

The Pending Home Sales Index,*a forward-looking indicator based on contract signings, fell 4.3 percent to 101.7 in December from 106.3 in November but is 6.9 percent higher than December 2011 when it was 95.1. The data reflect contracts but not closings.

Lawrence Yun, NAR chief economist, says there is an uneven uptrend. “The supply limitation appears to be the main factor holding back contract signings in the past month. Still, contract activity has risen for 20 straight months on a year-over-year basis,” he says. “Buyer interest remains solid, as evidenced by a separate Realtor® survey which shows that buyer foot traffic is easily outpacing seller traffic.”

Yun notes that shortages of available inventory are limiting sales in some areas. “Supplies of homes costing less than $100,000 are tight in much of the country, especially in the West, so first-time buyers have fewer options,” he says. “We expect a seasonal rise of inventory in the spring to help, but a seller’s market may be developing. Much of the West is already a seller’s market for homes priced under a million dollars, but conditions are much more balanced in the Northeast.”

Even with tighter inventory, a pent-up demand and favorable affordability conditions bode well for the market. Yun expects existing-home sales to increase another 9 percent in 2013, following a 9 percent rise in 2012.

The PHSI in the Northeast fell 5.4 percent to 78.8 in December but is 8.4 percent higher than December 2011. In the Midwest the index rose 0.9 percent to 104.8 in December and is 14.4 percent above a year ago. Pending home sales in the South declined 4.5 percent to an index of 111.5 in December but are 10.1 percent higher December 2011. In the West the index fell 8.2 percent in December to 101.0 and is 5.3 percent below a year ago.

For more information, visit www.realtor.org

 

John Marcotte

www.boulderhomes4u.com

720-771-9401

Filed Under: Local news

Broomfield Area Information

January 29, 2013 by

Broomfield Area Information

 

I

t might be too early to say that Broomfield is booming, but the city clearly is back in business. New luxury apartments, new Class A office buildings and new corporate headquarters are sprouting up in Broomfield.

Broomfield is a major player in Boulder Valley’s economy. It is the third largest city in the area and has the distinction of being its own county. It houses some of the area’s largest private-sector companies, with the majority of the region’s Class A office space. It has its own small area, the 1st Bank Center, and its population continues to climb with a mix of high-end and affordable living options.

Broomfield’s midway location along Highway 36 allows it to easily attract a labor force from both Boulder and Denver. The city also stretches east to access Interstate 25, and Northwest Park Way to Denver International Airport.

During the past decade, developers have built up Broomfield’s western side and along Hwy 36 into a mix of first-class office parks, hotels, apartments, shopping and entertainment.

The Interlocked Advanced Technology Environment is the area’s premier office park with a variety of real estate on 900 acres. It included the soon to be completed Eos at Interlocken, a Class A building with 186,000 rentable square feet and LEED Gold pre-certification.

Originally developed in the 1980’s, Interlocken hit its stride during the late 1900’s tech boom. The park is home to the headquarters of Level 3 Communications Inc, Vail Resorts, Webroot Software Inc, Oracle, and Staple Inc.

The business park also includes two four star hotels – the Omni Interlocken Resort and the Renaissance Boulder Suites and Flatirons, and the Omni, a 27 hole championship golf course.

Flatirons Crossing, Flatiron Marketplace and Main Street and Flatiron along Hwy 36 provide Broomfield with more than 2 million square feet of mall shopping, big box stores including Nordstrom, Dillard’s, Macy’s, Dick’s Sporting Goods, Best Buy, and Wal-Mart Super Center, and dining opportunities. Also nearby is the modern 150,000 square food Lakeshore Flatiron Athletic Club.

The Arista Mixed-use and entertainment neighborhoods is the latest development along Hwy 36. It features the 1st Bank Center, which has a scalable capacity from 3,500 to 6,500 attendees. The surrounding neighborhood is envisioned to include 1,500 residential units, 150,000 square feet of office space, 55,000 square feet of larger bix-box retail space, a 1,500 stall parking facility, a Regional Transportation District bus rapid-transit station and numerous parks and pedestrian walkways.

The area already includes a 140-room 5,658 square foot boutique hotel, the Alof Hotel, that opens mid 2009.

On the northern edge of  Broomfield, along I-25, Northern Colorado based developer McWhinney is in the process of developing its 932 acres of land within the Anthem neighborhood. The developer envisions a 20-40 year build out of commercial projects, including an applied research center. The residential portion of Anthem is slated to include up to 3100 homes.

Broomfield has next-door access to Rocky Mountain Metropolitan Airport in Jefferson County with corporate jet services. The city is served by RTD bus routes and is slated to have a FasTracks commuter rail station in the future.

With the ConocoPhillips Co constructing a 2.5 million square foot campus in nearby Louisville, other developments are in the works to help accommodate the growth.

 

Broomfield Profile

Square Miles: 33.6

Population: 55,889

Households: 21,414

Median household income: $75,590

Median home sales price: $276,750

Median age: 37

School districts: Adams 12, Boulder Valley, Brighton, Jefferson County, Weld county school districts

City, county, sales taxes: Varies by location – 8.25 percent to 8.45 percent

Top private employment: Oracle Corp

Top public employer:  City and County of Broomfield

Electricity: Xcel Energy and United Power

 

Online resources

City and County of Broomfield: www.broomfield.org

Broomfield Chamber of Commerce: www.broomfieldchmaber.com

Boulder Economic Development Corp: www.broomfieldedc.com

 

Economic Development Contact/Incentives

Stephanie Salazar, Broomfield Economic Development Corp, President/CEO

303-469-7645 stephanie@broomfieldedc.com

 

Bob Martinez, Director of Economic Development, City and County of Broomfield

303-464-5579 bmartinez@broomfield.org

 

Broomfield evaluated economic incentives for businesses on a case-by-case basis. Incentives include use and personal property tax rebates and assistance in expediting projects thorough the city’s and county’s approval process. Officials will consider jobs, salaries and quality of developments in their decision making process.

 

Presented by

Boulder Area Realtor Association

 

John Marcotte

www.boulderhomes4u.com

720-771-9401

Filed Under: Area recreation, Local news, Real Estate Topics, Things to Do Tagged With: , , ,

Boulder Area Information

January 17, 2013 by

Boulder Area Information

Boulder offers the perfect mix: A laid-back college town with big-city business smarts.

The city’s approximately 100,000 residents work and play against a mountain backdrop that includes the iconic Flatirons, and the “back range” Indian Peaks Wilderness Area with its snowy Arapaho Glacier. More than 30,000 of those residents attend the University of Colorado- Boulder with its picturesque campus.

Boulder’s unique setting and its high percentage of residents who wear Spandex belies the high concentration of companies in the aerospace, bioscience, data-storage and software industries. National corporations such as IBM Corp., Ball Aerospace & Technologies Inc., Lockheed Martin Corp., Covidien Inc., Corden Pharma International Inc. and Google Inc. are there. They city also has many professional and technical service companies and considers itself a center for alternative and renewable-energy research and natural and organic businesses, among other things.

Boulder’s natural attributes and support from peer companies draw many entrepreneurs to the city. Here, they start and grow new businesses, attracting a good amount of startup and venture-capital funds. In fact, the companies in Boulder drew more venture-capital, per capita, than companies in any other nation, based on industry statistics.

These innovative companies reflect the intellectual energy found in Boulder, which is supported by the University of Colorado, several major federally funded science laboratories and one of the nation’s percentage of residents with college degrees as well as a high quality of life.

CU-Boulder is the Rocky Mountain regions largest and most-comprehensive campus. It offers 3,400 courses, boasts four Nobel laureates and works extensively with private businesses through it Technology Transfer Office.

Boulder’s quality of life largely helps attract and keep the city’s educated work force. After work, residents can frequent local shops and restaurants or head straight into the mountains for hiking in the summer and skiing in the winter.

Boulder’s vibrant historic downtown features the Pearl Street Mall, an award-winning pedestrian shopping, dining and entertainment destination. More retail and restaurants can be found in the city’s central corridor surrounding the Twenty-Ninth Street retail district. The city has more than 400 restaurants, including several that have received national acclaim.

With a resident symphony, four museums, 32 movies and stage theaters, numerous festivals and more than 30 art galleries. The city is a haven for culture. Boulder also offers highly ranked public and private schools, three city recreation centers and one of the regions four hospitals, which has two main campuses.

At the edge of these urban attributes, Boulder prominently features the natural outdoors. The city owns more than 45,000 acres of mountain and plains open space, with more than 200 hiking and biking trails.

Boulder Profile

Square miles: 25.5

Population: 103,606

Households: 43,878

Median household income: $57,231

Median homes sales prices: $567,500

Median age: 29

School district: Boulder Valley

Sales tax: 8.16 %

Top Private Employer: IBM (3,400)

Top Public Employer: University of Colorado- Boulder

Electricity: Xcel Energy Inc.

Online Resources

City of Boulder: www.bouldercolorado.gov

Boulder Chamber: www.boulderchamber.com

Boulder Economic Council: www.boulderbusiness.org

Economic Development Contact/Incentives

Clif Harald, Executive Director, Boulder Economic Council

303-786-7567 clif.harald@coulderchamber.com

Liz Hanson, Business Liaison, City of Boulder

303-441-3287 hansonl@bouldercolorado.gov

The city of Boulder’s Economic Vitality Program supports efforts through public and private sources to help businesses grow and remain in Boulder.  Incentives include flexible tax and fee rebates for primary employers, a microloan assistance program, and parks and recreation discounts for all employees in Boulder. The program provides business assistance services and business retention and outreach efforts.

 

Presented by

Boulder Area Realtor Association

John Marcotte

www.boulderhomes4u.com

720-771-9401

Filed Under: Local news, Real Estate Topics, Things to Do Tagged With: , , ,
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