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Be Careful About Putting Only One Spouse’s Name on a Reverse Mortgage While reverse mortgages may look like no-lose propositions on the surface, they also have some significant downsides. First, the closing costs for these loans are about double those for conventional mortgages. For example, closing costs on a $110,000 reverse mortgage for a $200,000 home would be more than $10,000.
The Trustee shall have no right to invade principal of the Trust Estate for the benefit of the Grantor. The Grantor directs that the provisions of section 7-1.6 of the Estates, Powers and Trusts Law of the State of New York shall not be available to require any invasion of principal by the Trustee or any Court.
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Law Office in Fort Myers focusing on Wills, Trusts and Estate Planning, Elder & Medicaid, Trust and Probate. Asset protection or dynasty trust planning options
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