Pennsylvania residents who are looking to purchase a home may be interested to learn that the FBI reported that there was $150 million lost due to real estate fraud in 2018, with 11,000 people in the United States becoming victims of scams. The majority of the loss occurred because an email was infiltrated or too much data was publicly available, giving scammers the opportunity to take advantage of their victims during a stressful and expensive situation in their lives.
Prior to closing on a new home in Pennsylvania, it's a good idea to have the property inspected by a professional. This provides an opportunity to spot any problems before a buyer becomes the official owner. While there may be a warranty on a new home, many items could be excluded from it. Therefore, it's important to make sure that those items are in good condition before closing.
Trusts are often viewed as a tax planning tool and, if there is a family business, they can protect family assets from creditors. Those are two good reasons to establish trusts, but they can accomplish many things, including managing and preserving wealth for generations.