Event Information
NAPFA Webinar - Using Housing Wealth to Facilitate Asset Division in “Silver Divorce”
Online Webinar
Thursday, July 12, 2018
3:00 PM - 4:15 PM
iCalendar
Central Standard Time
Thursday, July 12, 2018 at 3:00 p.m - 4:15 p.m. ET, 2:00 p.m. - 3:15 p.m., CT, 12:00 p.m. - 1:15 p.m. PT)
Presented by: Dr. Barry H. Sacks and Mary Jo LaFaye
Earn: 1.5 CFP CE and 1.5 NAPFA CE in F - Estate Planning
Members: Free / Non-Members: $39.00
Dr. Sacks and Mary Jo LaFaye will discuss salient features of reverse mortgage as well as correction of some widely held misconceptions. Included in the discussion will be
A. Reverse Mortgage is a loan, not a sale
B. Applies only to principal residence of borrower
C. Loan to Value ratios depend upon age of borrower
D. Limits of home value considered
E. Interest accrues
F. Loan proceeds can be taken as lump sum, line of credit, or combination
G. Can be used for existing home or for purchase of new home
They will also cover retirement considerations and provide examples showing the economic benefits.
Barry H. Sacks is a Practicing Tax Attorney for 45 years, Certified Specialist in Taxation Law (subspecialty in Retirement Plan Law), author of several major articles on use of reverse mortgages in retirement income planning, in asset division in divorce, and other related subjects, including article in NAPFA Advisor, November 2017. Speaker at numerous meetings of Financial Planning Association, NAPFA, NRMLA (National Association of Reverse Mortgage Lenders), California Bar Association, AAML (American Academy of Matrimonial Lawyers).
Mary Jo Lafaye has Fifteen years of experience as loan officer for reverse mortgages, both for government regulated and insured reverse mortgages (known as “HECMs”) and for proprietary reverse mortgages. Frequent speaker, individually, and along and with Dr. Sacks, to meetings of Financial Planning Association, Marin County Bar Association Family Law Section, Estate Planning Section, NAPFA, AAML, CalCPA, and other organizations